Convenience stores were enjoying strong dynamism before the pandemic, driven by Tambo+’s aggressive store opening plans and by Oxxo's entry into the Peruvian market in 2018, with this player also investing in a significant number of store openings in Lima. This dynamism was reflected in spectacular sales growth in the years prior to the pandemic.
Players in convenience store have established similar strategies both to face the challenges of the pandemic in 2020 and at the reactivation stage of their activities in 2021. The main variables of the strategy are the proper management of the product assortment and attractive promotions.
The development of e-commerce in convenience stores is still in its infancy. Before the pandemic, none of the brands had their own web platforms for online sales, but aware of its importance, had been working with delivery apps such as Rappi and PedidoYa (formerly Glovo) in order to be present in the digital world and reach a wider audience.
Recovery of sales of convenience stores will depend on several factors, mainly linked to adequate control of the pandemic that will enable a return of pedestrian traffic to normal levels. This will happen if mandatory immobilisation of people ends or if these restrictions are reduced.
The convenience stores channel is expected to register strong growth once the pandemic has been overcome and the future political scenario clarified, resuming store expansion plans, and continuing with its value proposition of offering products to satisfy impulse purchases and social gatherings all at attractive prices and close to consumers’ homes.
E-commerce accounted for a low level of sales of convenience stores at the end of the review period. However, industry commentators believe that it will be essential for convenience stores to promote its development because this is not only a global trend but will also become an important sales channel in the future as consumers will become more familiar with online shopping due to convenience, comfort, ease of use and time savings.
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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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