The COVID-19 lockdown in spring 2020 had an especially strong impact on convenience stores, as they rely heavily on on-the-go and impulse purchasing. Even as strict stay-at-home orders were lifted, the ability to work from home and a general fear of contagion kept foot traffic and impulse shopping to a minimum.
Deals with entertainment and video gaming companies are making convenience stores more attractive to young consumers, helping to boost foot traffic. 7-Eleven’s deal with video game franchise Pokémon is the most high-profile example of this.
Mexico’s top four convenience store retailers continued to account for more than 90% of retail value sales in this channel, with OXXO by far the most important banner, accounting for just over four-fifths of convenience store retail value sales in 2021. Furthermore, over the review period these chains expanded their presence into nearly every region of Mexico, squeezing smaller competitors and some independent operators out of the market.
In constant value terms, the value sales of convenience stores will begin to recover in 2022, but this rebound will initially be fairly weak, as inflationary pressure is set to intensify. This will make many local consumers more price sensitive and lead them to trade down to less expensive products and brands.
Convenience stores and forecourt retailers have been expanding their offerings of prepared foods and are expected to continue doing so during the forecast period. While prepared foods was a rapidly expanding area pre-COVID-19, it was also one of the spots hardest hit by the pandemic.
Mexico’s oil market was privatised in 2013 and private oil companies began operating in the country in 2018. Earlier in the review period, companies from around the world have dashed into Mexico to attempt to claim part of the market.
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Understand the latest market trends and future growth opportunities for the Convenience Stores industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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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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