In-store technology has been a key driver for leading store brands to expand with the 30 largest grocers in the US having opened more than 500 new stores since 2020, totaling almost 26.3 million sq. ft.
Early estimates for 2024 from retail analytics firm RetailStat anticipate at least 80 new store openings totaling 4.3 million square feet.
"The growth in store footprints is occurring at a time of markedly increased funding for grocery-focused tech companies relative to pre-pandemic levels," according to a report from CBRE.
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