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Global Convenience Store Market Analysis
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Publish Date : Jun, 2010| No. of Pages : 115
Rapid economic development, along with booming retail industry, has been propelling the growth of convenience store (c-store) industry across the world. The global c-store industry has shown tremendous growth over the past few years, particularly in the emerging economies of Asia. Although the global financial crisis has hampered the overall economic growth, the Asian convenience store industry has shown remarkable resilience against the crisis. Increasing consumer appetite for convenient shopping and rising sales of low-price non-traditional products has given strong impetus to the development of the industry.
According to our report “Global Convenience Store Market Analysis”, the growth of c-stores in the mature markets is slow due to the global slowdown. The countries like US, UK and Japan are forecasted to show positive growth in the c-store sales. In fact, in the US, the sales are expected to grow at a CAGR of over 7% in the post-recession period (during 2010-2012).
Talking of the European region, here the growth has largely been driven by the growth in the UK c-store industry which continued to post positive results despite the slowdown. In coming times, with the growth in the number of vehicle owners due to the economic recovery, the number of people visiting service stations is also expected to increase. As a result, the probability of people visiting the c-stores situated at the service stations will also increase, which, in turn, will drive the c-store sales.
On the other hand, although there is immense potential for growth in the emerging economies (The Asian countries), the industry is still at a nascent stage. Some countries such as China, Indonesia, Taiwan and Japan have witnessed rapid growth in the opening of c-stores as well as in revenue generation. In China, the growth in retail sales at c-stores is expected to register over 21% during 2010-2012. The penetration of the convenience stores in Asia is quite low with respect to other western and European countries. 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 extensive analysis on the booming c-store market. It provides an insight into the c-store industry across Asia, Europe and North America, and gives a brief overview of the consumer behavior in these regions. The report helps the clients analyze the trends prevailing in c-store retailing across the world and identify the key emerging markets. Future growth areas and challenges for the industry mentioned in the research help the clients to align their business strategies as per the changing market dynamics.