While current value sales registered a double-digit increase in 2021, this growth was mainly due to soaring inflation and in fact in constant value terms, value sales actually fell. In 2020, convenience stores benefitted from the pandemic, as consumers’ movements were restricted and they therefore opted to shop in neighbourhood stores.
Carrefour has led the way in the development of convenience stores since 2012, opening many new stores every year and revolutionising the channel. The player dominates sales due to the popularity of the Carrefour Express format, which has the largest network in the country, although some branches had to be closed as a result of the current economic crisis.
While Coto and Libertad also have convenience store outlets, both chains are focusing more on developing their other grocery channels. as they deem the competition within convenience stores to be too tight.
Convenience stores will continue to be valued by Argentine households, thanks to their ability to offer a wide range of products without the requirement to travel great distances. In addition, ongoing, regular price promotions will continue to appeal to Argentinians who have limited disposable income.
In order to mitigate soaring inflation, in 2021, the government launched the Super Close programme, a basket of 70 goods that will remain at a fixed price for six months and has been agreed with several leading food companies. The programme is aimed at traditional grocery retailers and complements the already established Care Prices programme, which guarantees fixed prices for over 5,000 goods in 360 supermarkets nationwide.
As soaring inflation is expected to continue to eat away at consumers’ purchasing power over the forecast period, convenience stores’ private label will be increasingly important, as convenience stores look to compete with other grocery channels such as discounters. Private label brands, due to their good price to quality ratio, will remain an attractive feature for consumers across the forecast period.
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Chained grocery retail outlets selling a wide range of groceries and fitting several of the following characteristics: Extended opening hours Selling area of less than 400 sq metres Located in residential neighbourhoods Handling two or more of the following product categories: audio-visual goods (for sale or rent), foodservice (prepared take-away, made-to-order, and hot foods), newspapers or magazines, cut flowers or pot plants, greetings cards, automotive accessories. Sales data excludes foodservice sales. Example brands include 7-Eleven, Spar. Note: The number of branches required to be termed chained varies from country to country but is usually ten or more. If a multinational is operating in the country, then this is included, even if there are fewer than ten outlets under the brand.See All of Our Definitions
This report originates from Passport, our Convenience Stores research and analysis database.
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