To decide where a new store will open, location is the most important factor, followed by area or available space. Convenience stores are mainly located in areas of high pedestrian traffic, such as near universities, bus stops or business centres.
Each opened store has a sales goal, which depends on its area of ??influence. Total penetration is approximately achieved two years after opening, after this, the only way to generate growth is through promotions, raising the value of each ticket (sales per customer per visit).
Development of this channel has seen the appearance of new packaging sizes, usually smaller and therefore with a lower price. Thus, in 2018 the launch of carbonated drinks in 300ml was seen, which are sold at PEN1.
Attracted by large growth and excellent profit potential, Mexico-based FEMSA Comercio opened OXXO in the Peruvian market in October 2018. By the end of the year, the company opened its second outlet in Lima, and is projecting 50% growth in its whole number of stores over the continent (17,478 outlets).
Tambo+ continued increasing its number of stores in 2018. This contributed to a significant increase in company sales which is now looking for expansion outside Lima, in cities with more than 300,000 people.
Convenience stores in Peru have recently launched private brands, thus far offering bakery products only. It is expected that this penetration will grow during 2019 through the expansion of the product portfolio, entering into snacks.
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Discover the latest market trends and uncover sources of future market growth for the Convenience Stores industry in Peru 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.