The COVID-19 crisis forced convenience stores operators to shift the focus of their offer. Prior to the COVID-19 outbreak, convenience stores players primarily focused on targeting last minute demand for food such as snacks, drinks and prepared food amongst consumers in transit around their outlets.
During the COVID-19 pandemic, convenience stores adapted their offer to meet consumer needs for everyday grocery items, such as edible oils, pasta, rice and soap, in addition to hand sanitisers and face masks. Most also changed their window displays for such essential pantry items to be more visible to people passing by.
In 2021, Cadena Comercial OXXO Colombia SA’s OXXO remained the leading convenience store in the country. It is the only brand in the channel with significant plans for store expansion.
Before the COVID-19 pandemic, the convenience stores format had experienced significant development over a decade. However, the rise of rival formats such as discounters and the high rental costs in the areas in which stores are located are now acting as a constraint on the channel’s development and suggesting that convenience stores is entering a maintenance phase.
The latest renovations and initiatives introduced by Éxito Express formats suggest ways in which the convenience stores channel may be able to differentiate its offer from expanding rival modern grocery retailing formats during the forecast period. These include offering co-working zones, mobile phone recharging devices, free Wi-Fi, interactive whiteboards and some co-branded alliances such as that with coffee brand, Juan Valdez, to provide a self-service model.
The entry of Peruvian company, Grupo Romero’s Primax represented a major development in forecourt retailers. Although the pandemic has been a difficult period for Primax’s store network expansion because of the travel restrictions imposed in order to contain COVID-19, the company anticipates continued growth, as it also expects to acquire the petrol stations of the Brazilian state-owned company, Petrobras, in Colombia.
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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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