// Waitrose is hoping for a major revamp of its store estate to win back shoppers
// A complete refresh would cost up to £250m
Waitrose is to press the button on a major revamp of its store estate in a bid to attract customers to the upmarket grocer.
The supermarket is cutting costs to free up cash for the overhaul of its 332 stores.
Waitrose is working with American consultants Bain to spearhead its turnaround.
A complete refresh would cost up to £250m, although the amount of money currently available is less than this, The Telegraph reported.
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The revamp comes as Waitrose looks to win back shoppers amid a decline in market share.
The grocer’s market share has fallen from 5% to 4.7% over the last 12 months, according to Kantar.
It has focused on reducing its product range in an effort to reduce “duplication” and boost sales.
The newspaper claims the supermarket has cut the range of yoghurts it stocks by 10%, however sales in the category have since jumped 10%.
Waitrose commercial director Charlotte Di Cello said: “We continue to have the widest breadth of range in the market in the areas that matter to our customers most such as Cook’s ingredients; wines and counters.”
The supermarket has also started stocking more exclusive products, such as plant-based foods made in partnership with Deliciously Ella founder Ella Mills.
