Unmanned stores and self-service technologies are set to see an increase in their pace of adoption over the forecast period, as retailers in the channel look to expand to more rural areas, where finding workers for the 24-hour format comes with added difficulties. Introducing such technologies allows stores to offer a variety of products at convenient locations, and reduces costs to make the model work for smaller population groups.
The on-the-go style of shopping in convenience retailers seems to align well with the increased used of innovative payment methods. The use of QR codes and digital wallets is set to be well-received by consumers, as often locations are close to office buildings or housing developments, meaning consumers are looking to make a fast purchase and move on – a reality that aligns well with modern app-based payment methods.
Convenience retailers is expected to continue to post high current value growth over the forecast period, outperforming other grocery retail channels, showing the success of the intense expansion process that players in the category have undertaken, opening new stores and reaching new geographies. As players such as OXXO, OK Market, Punto, Spacio 1, and others continue to scope new locations for standalone stores, it is expected that the competition with small local grocers will also ramp up, adding increased dynamism to both channels, especially as no new player has announced their entry in the market; a reality that is expected to continue over the forecast period.
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Understand the latest market trends and future growth opportunities for the Convenience Retailers industry in Chile with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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The aggregation of convenience stores and forecourt retailers.See All of Our Definitions
This report originates from Passport, our Convenience Retailers research and analysis database.
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