Latest data from Barbour ABI shows there were 556 planning applications submitted for the construction of new stores by Tesco, Sainsburys, Asda and Morrisons since January 2010,.
But only 179 schemes have been successfully completed or are currently under construction.
Tesco put forward the most planning applications with 206 and also has the lowest planning to construction ratio at just 21%, compared to Morrisons who have a ratio of planned completed construction of 56%.
Michael Dall, lead economist at Barbour ABI, said: “With the ‘big four’ already having a fairly solid foundation of stores across the UK, some may suggest that there isn’t a glaring need for them to build new stores at a significant rate.
“However, it is interesting to note that a planning approval does not necessarily indicate future development.
“Perhaps many of the supermarkets were competing for ‘development options’ rather than actually building new stores. Defending market share was a key strategy of the ‘big four’ as the data suggests.
“However given the changing nature of the supermarket sector in the UK and the concentration on price competition from the ‘big four’ this may allow others to challenge their traditional dominance by increasing construction rates.”