The Asian Convenience Store (C-store) Industry has grown rapidly over the past few years with consumers’ lifestyle heading towards modernity and large participation from market players. Despite economic slowdown and financial crisis over the past few years, the Asian region has showed a splendid performance and the number of c-stores increased rapidly. Also the developed markets of the US and UK have become saturated with high C-store density posing a question mark over the industry’s growth potential. As a result, players have now started to look outside these markets and Asia represented the most lucrative C-store market with increasing consumers’ appetite for convenient shopping and surging sales of low priced non-traditional products providing a strong impetus to the development of industry.
According to our new research report, “Asian Convenience Store Market Forecast to 2012”, the Asian c-store industry is heading fast towards the development phase. South Korea, for example, is one of the fast growing markets for c-store as the country’s total retail sales reached to the mark of KRW 268.1 Trillion (US$ 227 Billion) during 2010. Growing retail sales and large consumer base following western life style have boosted the development of c-store sector and so the sales from this retail segment grew by around 7% to reach around KRW 7.5 Trillion (US$ 6.4 Billion) during 2010.
Even in countries like China, Indonesia, and Vietnam, the share of c-stores in total grocery outlets is less than 1%. Thus, an almost untapped market coupled with vast consumer base provides a highly lucrative opportunity for existing as well as new market players to gain early advantages.
The report covers all the necessary aspects of the Asian c-store industry. Further, our team of analysts has also placed all the necessary information prudently on the basis of reliable data. The report also facilitates comprehension of current trends prevailing in industry and their impact on future growth. A brief overview of consumer behavior in these countries has also been presented. Future growth areas, evaluated in the research report, will help intending clients to align their business strategies as per the changing market dynamics in the region.