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Summary
- A new budget supermarket Mere is set to open 300 stores across the UK.
- The supermarket chain will be 30% cheaper than the existing budget retailers of the UK.
A new supermarket chain Mere is planning a grand launch in the UK. Since 2018, Mere has been operating in Europe and now has plans to set up 300 branches in the UK. The chain will be 30% cheaper than the existing budget retailers of the UK. This new supermarket chain will compete with the UK’s existing supermarket such as Aldi, ASDA, Tesco, Morrisons, Sainsbury and Lidl.
In 2009, Mere was founded as Svetofor in Siberia and has already opened four stores in Preston, Castleford, Mold and Caldicot and further has plans for expansion.
Each UK store will be about 10,000 square feet, compared to a Tesco superstore it is approximately one third in terms of area. The Mere stores will have only eight workers, as reported. The supermarket chain works on the model of ‘No service and No marketing’. Mere also buys stock from suppliers on a "sale or return basis", which means any unsold goods will be returned to the seller.
The shops will also have a walk-in chiller room and freezer and items will be sold directly from the pallets they are delivered on. According to Birmingham Live, the Russian Chain Mere is already having 3200 stores around the world.
As per Mere’s Head of Retail, Pavels Antonovas, the chain does not have competitors due to the cheap prices. However, Mere compared itself with Costco, but they offer no in-store service and have no membership fee.
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Let us see how the major supermarkets of UK, like Tesco, Morrison, Sainsbury were trading today:
Tesco Plc (LON: TSCO)
Tesco is the biggest supermarket chain in the UK. It owns more than 6,800 shops across the globe and owns shops in the five countries across Europe.
Tesco’s shares were trading at GBX 231.15, up by 0.07% on 16 June at 08:04 GMT+1. The company’s market capitalisation stood at £17,860.25 million.
Morrison (WM) Supermarkets Plc (LON: MRW)
An FTSE100 constituent Morrison is the fourth largest supermarkets chain in the UK. The company is headquartered in Bradford, England and has operations in North England, South England, Wales, Scotland, and Gibraltar.
Morrison’s shares were trading at GBX 176.80, up by 0.09% on 16 June at 08:05 GMT+1. The company’s market capitalisation stood at £4,256.82 million.
J Sainsbury Plc (LON: SBRY)
J Sainsbury Plc is a holding company that contains three divisions: Sainsbury's Supermarkets Ltd, Sainsbury's Bank and Sainsbury's Argos.
Sainsbury is the second largest supermarkets chain in the UK and has more than 800 convenience stores and 600 supermarkets.
Also Read: UK supermarket stocks to explore after online grocery market share touches 17%
J Sainsbury’s shares were trading at GBX 254.60, up by 0.32% on 16 June at 08:06 GMT+1. The company’s market capitalisation stood at £5,684.01 million.
