The convenience stores channel saw positive growth in current value terms in 2021, with this mainly being driven by stores located in the outskirts of towns and cities, and in residential and remote areas. Due to the lockdown at the start of the year and the fear of contracting COVID-19, many customers preferred shopping in small stores close to their homes during 2021.
The modernisation of stores in rural areas continued to support growth in 2021. Many players introduced digitisation to their convenience stores to keep up with the competition.
A growing number of people have moved outside of cities and into smaller towns and rural areas since the start of COVID-19 pandemic, with this creating a growing demand for fresh grocery and bakery products in these areas. Some grocery retailers have looked to respond to this demographic trend by expanding their offer in these areas.
The convenience stores channel is becoming increasingly competitive and there are no signs of this changing over the forecast period. Having a large variety of products and services on offer will likely play an important role, with consumers generally appreciating a wide variety of choice even when shopping in smaller stores.
More players are expected to introduce online services over the forecast period, using partnerships with third party delivery providers to improve delivery services as much as possible. With more consumers shifting to working from home this should provide significant sales opportunities, with workers, for example, being able to order their lunch to be delivered without having to leave their desk.
Leading players in the supermarkets, hypermarkets and discounters channels are expected to enter the convenience stores channel over the forecast period as the look to respond to changing consumer behaviour. Demand for convenience, quick purchases but also a preference for shopping in small format stores will likely drive this trend.
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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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