Convenience Stores in Singapore

PROSPECTS

Growing competition from other retail formats

Despite expanding the variety of food options and lowering price points, convenience stores are still losing out to other retail formats such as supermarkets in Singapore. The trend of underwhelming growth for convenience stores is expected to continue.

Efforts to differentiate channel from supermarkets

With massive competition from supermarkets, convenience stores can no longer simply increase their product offering to remain relevant. Convenience stores have been increasing the variety of services that they provide in their outlets.

Bringing in new technology to attract younger demographic

Besides the wider variety of food offered, convenience stores are also embracing new technologies to attract a younger crowd who considers innovative dining experiences to be appealing. In 2019, both leading convenience stores, 7-Eleven and Cheers, have brought self-cook ramen stations to Singapore.

COMPETITIVE LANDSCAPE

7-Eleven remains on top with new product offering

Ready-to-eat meals remain the key interesting factor for convenience stores. 7-Eleven continues to introduce new and localised meals such as chili crab onigiri and the expansion of its own private label 7-Select.

Cheers trails behind

Following the popularity of ready-to-eat meals in convenience stores, Cheers has made considerable efforts to keep up by offering different types of ready-to-eat meals. It has developed its own brand, Treats, and also engaged with local eateries such as Soup Spoon and Pastamania to provide more luxurious ranges of meals.

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