Over 2018, ongoing exchange rate value depreciation of the Turkish lira against foreign currencies continued to push the prices of grocery items upwards and increased the operational costs of outlets. This trend led to rising inflation and increasing price sensitivity among consumers.
In 2018, convenience stores continued to benefit from an increasing consumer preference for convenience. Rather than preferring grocery shopping in large outlets with extensive product portfolios, a growing number of consumers prefer shopping a couple of days per week with smaller basket sizes.
Macroeconomic deterioration over 2018 and into the forecast period will continue to have a negative impact on traditional grocery retailers, which are expected to register ever-decreasing outlet numbers. This will continue to offer good potential for convenience stores, as they increase in number and raise their penetration of smaller streets.
In 2018, Migros Tic continued to hold its leading position in terms of value sales within convenience stores, while in outlet numbers Anadolu Group (brand Ekomini) continued to lead. The difference between the two was due to the fact that Migros features relatively higher prices compared to Ekomini, which appeals to low-end consumers and markets itself as an economy brand.
In 2018, chained retailers continued to hold their full domination of the category. Nevertheless, a significant acquisition further consolidated the competitive landscape within convenience stores.
Over the forecast period, the main competition between leading companies is set to remain based on pricing and outlet penetration; nevertheless, digitalisation will be key for leading retailers. To increase their competitive advantage over the dynamically growing online retailing and traditional grocery retailers that offer packaged deliveries, convenience stores are set to launch new omnichannel services such as click-and-collect, which will significantly benefit their operations.
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Discover the latest market trends and uncover sources of future market growth for the Convenience Stores industry in Turkey 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.