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Floor Space Restricts US-Convenience Stores’ Expansion
Mar 16, 2006
Soaring real estate prices and lack of sufficient funding are the major concerns amongst the large & small storeowners across U.S. They find it virtually impossible to expand their store areas, which can help them in boosting sales.
Rationalization appears to be the right solution for the entire problem. The convenience stores can augment their earnings with the additional facilities such as video rental facility, ATMs, utility bill payment services, Collect Call Booth, Courier and Parcel dispatch services and so on. It’s possible that a customer might turn to the store to get some simple tasks such as Internet surfing done, which will earn supplementary income to the store. Most probably, the customer might decide to go for some shopping from the same store.
A recent market research report “State of the U.S. Convenience Store Industry — A Market Analysis (2005)” published by RNCOS finds “Strong consumer demand for convenience shopping has made the C-store sector the most dynamic part of the entire retail industry. Essentially, serving top-up shopping requirements to supplement the supermarket, C-stores have established an important niche in the grocery supply chain.”
As per the report the reasons behind the comparatively lesser ratio of the C-store expansion, in spite of the ever-increasing demand for modernized convenience stores, include the unavailability of sufficient funds and lesser floor area. Insufficient funds prevent the small traders from better management of their businesses and also make it impossible to renovate their C-stores, whereas the range of sellable goods is limited as the selling area is restricted to below 3000 Sq Ft.
The report also talks about the various market prospects for the manufacturers and retailers. Technical and strategic information provided in this report can help the supply chain managers, product suppliers, retail store equipment vendors and financial analysts & investors in developing better business plans.
While discussing the business opportunities for the manufacturers and retailers, the report also talks about the consumer behavior as they use convenience stores. The experts have conducted an exhaustive SWOT analysis, which concluded that finances and floor space play the major hindrance in the growth of the convenience store industry in the States.
For more information visit: http://www.rncos.com/Report/CP07.htm
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