Do you know…
that health food retailers numbered only 11 in 1987 but mushroomed to 155 ten years later?
This reflected increasing consumer concern about health and higher demand for health related products. Total sales jumped from $2.1 million to $68.8 million during the decade, representing an impressive growth of 42 per cent per annum (see chart). The rise in health food expenditure was also evidenced by the higher sales receipts per establishment. It rose at an average annual rate of 8.8 per cent between 1987 and 1997.
The geographical distribution showed a sizeable number of health food retailers in the city area – with 62 (or 40 per cent) being concentrated in the central business area in 1997. Compared with their suburban counterparts, city retailers performed better on average – their turnover was 25 per cent higher.