Driven by demands of major consumer groups, capital investment and participation of retailers, convenience stores show great market potential, especially in first- and second-tier cities in China. As new generations of consumers become the major workforce, they focus on convenient and high-quality shopping experience to mitigate modern life challenges.
Products and services are a major medium to link convenience stores with consumers. As there is ongoing urbanisation and a rising pursuit of high-quality lifestyle, consumers especially in first- and second-tier cities are less sensitive about price and more demanding of healthy foods.
The unique retailing environment in China contributes to the flourishing of new technologies such as digitalisation and AI in convenience stores. With more connected consumers, participation of e-commerce giants and in-depth transformation of traditional convenience stores, more players have adopted digitalisation.
Due to regional economic development, vast territory and cultural differences in China, most convenience stores show obviously unbalanced development in different geographic areas. According to a report by the non-profit China Chain Store and Franchise Association (CCFA), it accounts for over 50% of total outlet numbers for leading convenience retail chains in several major regions.
Due to the advantage of location and product assortment, convenience stores are gaining popularity. However, the rising of New Retail blurs the line between convenience stores and other formats such as supermarkets.
Ready-to-eat food contributes sales growth for convenience stores, especially those located in CBD and near the subway. With the fast pace of modern life, a growing number of office workers are used to grabbing fresh prepared food for breakfast or lunch in nearby convenience stores, which offer various choices from lunch boxes, hot pots and steamed foods.
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Discover the latest market trends and uncover sources of future market growth for the Convenience Stores industry in China with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Retailing market research database.