Convenience stores continued its strong growth in 2021 due to interest in the channel from both large retailers and consumers. Convenience stores saw stronger year-on-year growth than any other grocery category in both value terms and in terms of outlet expansion.
Outlet expansion is driven by the high level of interest in convenience stores on the part of large grocery retailers. As convenience stores outlets are smaller in terms of floorspace than formats such as supermarkets and hypermarkets, and are located densely in residential neighbourhoods, the conversion of independent small grocers to chained convenience stores continued unabated in 2021.
Although losing market share to Yildiz Holding, Migros Tic AS retained the lead in convenience stores in 2021 in value terms. A player that also has a presence in hypermarkets and supermarkets, Migros is the most recognisable grocery brand in the Turkish market and can leverage this to its advantage.
Convenience stores is expected to see the strongest value growth amongst modern grocery retailing formats over the forecast period. Consumers will continue to prefer smaller format markets like convenience stores within urban areas close to their homes over larger formats that they need to drive to.
The competitive landscape in convenience stores will continue to be dominated by the larger grocery brands, thus making it difficult for smaller players to compete. It is expected that the main players will remain Migros Tic AS, Anadolu Group, and Yildiz Holding AS.
Due to the challenging economic conditions resulting from measures introduced to limit the spread of COVID-19, consumer budget-consciousness has increased significantly, and price-sensitivity is set to play a key role in purchasing decisions for much of the forecast period. In this context, retailers are pushing private label products to maintain interest from price-conscious consumers.
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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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