Ever had a craving for snacks at 3 in the morning? How about an ice-cold drink when the nearest supermarket is just too far of a walk away? Or caught in the rain without an umbrella? Or need shampoo urgently? Never fear, the convenience store is here for you!
In every nook and cranny of pretty much every metropolis in the world, you will be able to find a convenience store. These stores are characterised by their small size, limited inventory, and higher prices. However, they make up for these shortcomings by having late opening hours (or even running 24-hours), serving more locations, and having shorter cashier lines.
Convenience stores typically sell snack foods (sweets, crisps, soft drinks), newspapers and magazines, toiletries, tobacco products, and frozen foods. Some newer convenience stores may also offer ready-to-eat food, such as sandwiches or other prepacked foods. Depending on the locale, some convenience stores may also sell items like automobile-related items at petrol stations. Although convenience stores may carry quite a broad range of merchandise, their selection is limited compared to supermarkets, and in many stores only one or two choices are available.
In the ASEAN market, convenience stores are projected to see positive growth. For example, in Malaysia’s urban areas, there is approximately 656 convenience store outlets per million urban households, indicating a low penetration rate. With growing urban communities and resulting lifestyle changes, more and more consumers are expected to shift away from traditional grocery retailers like independent small grocers and other grocery retailers towards retail channels that facilitate quicker and more convenient purchases.
In this issue of SME, we take a look at four convenience store retail franchises worth looking at.
MINISTOP
Ministop is originally a Japanese convenience store chain. Through a subsidiary of Robinsons Retail Holdings Inc, it entered the Filipino market and quickly established itself as one of the Philippines’ leading convenience store franchises.
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Denne historien er fra September 2018-utgaven av SME Magazine Singapore.
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