The Asian convenience store industry has witnessed tremendous growth over the past few years with soaring customers’ expectations of enjoying convenient shopping and integrating western concept in their lifestyle. The region has emerged as a lucrative market for new store developments and product diversification of existing convenience stores. Although the global financial crisis has hampered the overall economic growth, the Asian convenience store industry has shown remarkable resilience against the crisis. In addition, increasing consumer appetite for convenient shopping and surging sales of low price non-traditional products have given strong impetus to the development of industry.
According to our new research report “Asian Convenience Store Market Forecast to 2012”, the Asian convenience store industry is in the nascent stage of development since some leading countries such as China, Indonesia, Taiwan and Japan have witnessed rapid growth in the opening of convenience stores openings and revenue generation in recent years. In fact, China convenience stores sales is expected to register a CAGR of over 21% during 2010-2012 buoyed by rising working population coupled with aggressive promotional and investment plans of market players. The growth is significantly higher than its regional counterparts as well as developed markets like the US and UK.
The convenience stores penetration in Asia is quite low in comparison to the rest of the world. In countries like China, Indonesia, Philippines and Vietnam, the share of convenience stores in total grocery outlets is less than 1%. Thus, an almost untapped market coupled with vast consumer base provides a highly lucrative marketplace for existing as well as new market players to gain early advantages.
The report provides conceptual analysis and extensive research on the convenience store industry in Asia. It facilitates quantitative and qualitative trend analysis of past and current industry scenarios, and provides a clear cut direction in which the industry is likely to proceed in coming years. The report gives an insight into the convenience store industry in different Asian countries and a brief overview of consumer behavior in those countries. Future growth areas and roadblocks evaluated in the research report will help clients to align their business strategies as per the changing market dynamics in the region.
For the purpose of this report, Asia includes - Hong Kong, South Korea, Taiwan, China, Malaysia, Philippines, Singapore, Thailand, Vietnam, India, Japan and Indonesia.
