Convenience Retailers

Historically high inflation rates created huge challenges for convenience retailers in Sweden towards the end of the review period. As consumers started to plan their purchases more carefully and show a preference for discounters and large format…

Convenience retailers in Germany recorded a resilient performance in 2023, despite a slowdown compared to the rapid growth witnessed in 2022 when cultural, leisure and professional events, including major trade, resumed at full capacity following…

Convenience retailers maintained dynamic growth in current value terms and in terms of outlet numbers in South Korea in 2023. The number of convenience retailers surpassed 50,000 in 2021, and this figure increased to nearly 60,000 in 2023. The…

Due in part to Saudi Arabia’s Vision 2030 strategy the Kingdom is experiencing accelerated population growth and internal migration toward concentrated metropolitan areas. This has presented opportunities for quality-focused convenience stores to…

Inflationary pressures, notably in food, drove value growth in convenience retailers in 2023. Here we note the cost of everyday essentials, such as butter, milk, flour, and eggs. While this supports value sales due to the higher prices, retailers in…

Despite price increases as a result of inflation that continued to drive the local population to adopt more conscious spending patterns in 2023, convenience retailers in the UK maintained a positive trajectory during the year as proximity and…

As it did for many industries, the pandemic distorted the growth curve for convenience retailers. Following historically high current value growth rates in 2021 and 2022, sales slowed for convenience retailers (which encompasses convenience stores…

Convenience retailers saw double-digit current value growth in Mexico in 2023, and was the most dynamic channel within grocery retailers. This performance was primarily driven by the strong outlet expansion seen over the course of the review period,…

Convenience retailers returned to current value growth in India in 2023. This is a relatively small channel with low penetration in the country, with outlets predominantly located in tier 1 and tier 2 cities. There are just a few major players in the…

Convenience retailers in Ukraine continued to prove more successful than other grocery formats in weathering the challenges brought about by the Russian invasion in 2023. Offering a relatively limited range of day-to-day essentials, they were well…

Big grocery retailers continued to expand their reach by opening convenience stores in Israel in 2023, targeting urban customers in a highly competitive environment to enhance accessibility and cater to the evolving needs of city-dwellers. This move…

Although seeing a slowing of its growth rate compared with the previous year, convenience retailers maintained solid current value growth in Hong Kong in 2023. Convenience stores remained overwhelmingly dominant within convenience retailers in 2023,…

Convenience retailers in Chile continued to perform well in 2023, recording another year of double-digit value growth, primarily driven by convenience stores. The latter channel has become increasingly popular among Chileans in local neighbourhoods,…

In 2023, convenience retailers in Brazil maintained retail current value growth, and also returned to growth in outlet numbers, as consumers looked to shop for essentials close to home. OXXO was one retailer which opened more stores at the end of the…

Convenience retailers saw current value growth in Indonesia in 2023. Urbanisation is a key factor influencing the growth of convenience stores in the country. Many people move to big cities in search of work or education, and they need places to shop…

Convenience stores recorded slower value dynamics than overall retail in 2023. Higher prices in this channel stimulated a consumer shift towards discounters and supermarkets. The situation in the market favoured retail chains that can afford to offer…

Convenience retailers in New Zealand continued to see retail current value sales growth in 2023; however, this was supported by inflationary pressures driving up unit prices of grocery products. While fuel costs stabilised following an initial shock…

The geopolitical developments of 2022 and 2023 have had a big impact on retail in Italy. Russia's war in Ukraine continued in 2023 with no sign of resolution at the time of writing, while the emergence of further instability in other parts of the…

In 2023, convenience retailers in Finland witnessed only marginal current value growth, with much of this fuelled by high levels of inflation. Sales have suffered from lower purchasing power caused by the rising cost of living, with consumers…

Even after seeing strong performances throughout the pandemic years, convenience retailers maintained its growth momentum in current value terms in China in 2023, with growth in outlet numbers also continuing. Even as the pandemic eased, consumers…

In early May 2023, the local operator of 7-Eleven (7-Eleven Stores Pty Ltd), the leading brand of convenience retailers in Australia, released a statement saying that the chain will be up for sale, including over 700 outlets across the country. The…

Convenience retailers witnessed growth in Greece in 2023 as more and more people visited their stores for their daily purchases. This trend started during the COVID-19 crisis, when consumers procured essential goods from nearby stores, and now it has…

In 2023, convenience stores registered significant value growth in Turkey, driven in part by a significant number of new outlets opening. The compact size of these stores made it easier to find suitable locations and their widespread presence in…

Convenience stores in city centre locations saw steady growth in current value terms in 2023 with this being driven by various factors. First, with the pandemic over consumers spent less time working from home than during the height of the health…

Convenience retailers in Switzerland remained popular in 2023, partly due to their extended opening hours, since many stay open 24/7 or at least operate late hours. In addition, wide store networks across easily accessible locations with high…

The high growth for convenience retailers in 2023 in Romania, was driven by rising interest in proximity shopping. Price growth over the level of inflation limited consumers' purchases to basic food items. Reduction of purchasing power due to…

Following a strong performance during COVID-19, in 2023, sales for convenience retailers in Portugal continued to rise, driven by high inflation levels and nationwide outlet expansion. Sales and outlet growth in convenience stores has been at the…

Convenience retailers in Peru saw a further improvement in outlet development during 2023, with forecourt retailers and convenience stores both expanding. After the strong rebound in value growth witnessed in 2022, current value sales contracted…

Convenience retailers in Egypt was affected by direct government efforts to support convenience stores. As the success of convenience stores is high, the government aims to stimulate new initiatives and facilitate bank loans to help local…

As life returned to normal in Denmark in 2023 consumers also continued to shop more in convenience stores, with the channel benefiting from the increased level of activity from commuters and other consumers needing snacks and other items on the go.…

In 2023, value growth of convenience retailers in Colombia was supported by increasingly busy lifestyles, forcing consumers to shop little and often and increasingly buy breakfast and lunch to-go. Convenience retailers have shown agility and…

Convenience stores represented the most dynamic category within grocery retailing in Belgium in 2023. While not known for being the cheapest channel, the return of consumers to their busy, pre-pandemic lifestyles provided a boost to sales. As such,…

2023 saw convenience stores in Vietnam continue to expand rapidly in terms of number of outlets, especially into urban areas, as local lifestyles became increasingly busy. Convenience stores resonate with Gen Z consumers and students, gaining…

Convenience stores in Thailand continued to recover and rise in 2023, with expansion in terms of outlet numbers a major driver. Rapid urbanisation, longer working hours, and declines in average household size boosted demand for smaller-format stores…

In 2023, convenience stores in Taiwan experienced expansion driven by various factors such as summer travels, festive seasons, typhoons, and back-to-school/work periods, all of which boosted demand for fresh food, coffee, packaged snacks, and…

Convenience retailers benefited from the lifting of the remaining COVID-19 restrictions and the opening of new outlets across Spain. There was also increased foot traffic in urban areas driven by the rise in tourism which supported the growth of…

2023 was not a good year for convenience retailers in Slovakia. With inflation still being high, consumers cut back on spending in convenience retailers, as prices tend to be higher than in other grocery retailers. As such both constant and current…

The full recovery of convenience stores in Singapore, which dominates value sales and outlet numbers within convenience retailers, has been driven by the resumption of pre-pandemic lifestyles. Consumers have returned to schools and offices, as the…

The twin challenges of high inflation and heightened competition continue to impact the performance of convenience retailers in Norway, only prolonging its recovery from the effects of the COVID-19 pandemic. Convenience stores and forecourt retailers…

Convenience stores continued to be affected by price hikes in Hungary in 2023. Whilst inflationary pressures have had effects across retail, we see some specific spikes and falls.

Convenience retailers in in the Philippines recorded a dynamic performance in current value terms in 2023, continuing the trend of the previous year. This was largely attributable to the aggressive activities of incumbent players, such as Philippine…

Convenience retailers in the Czech Republic are suffering amid retail price increases as locals are searching for the best value and price when shopping. When it comes to price, convenience retailers are unable to compete with larger retailers and so…

In 2023, convenience stores in South Africa continued to benefit from proximity to local households, with this format often used for daily or weekly top-ups. However, in suburban areas, the channel is increasingly being threatened by the emergence of…

The currency redesign initiated by the Central Bank of Nigeria in early 2023 created significant challenges for convenience retailers. The scarcity of the local currency, coupled with Nigeria's predominantly cash-driven economy and a large segment of…

In 2023, Moroccan retailers faced heightened competition, compelling them to diversify their strategies to maintain market relevance and sustain growth. Convenience stores, in particular, encountered stiff competition not only from traditional…

Social distancing measures remained in effect in Malaysia in 2021, with consumers forced to avoid spending time outside of the home wherever possible, and huge numbers of white-collar professionals, office workers and service industry personnel were…

Convenience retailers in Canada faced a challenging environment in 2023. The COVID-19 crisis and subsequent high rates of inflation have made consumers more conscious of their spending and more likely to shop around for the best deals. In this…

2023 was not a good year for convenience retailers in Bulgaria. With inflation still being high, consumers cut back on spending in convenience retailers, as prices tend to be higher than in other grocery retailers. In addition, there is a degree of…

Just like grocery retailers as a whole, convenience retailers saw strong growth in value sales in 2023, although this was almost entirely price driven as inflation remained at unusually high levels for a second consecutive year. Demand itself only…

Convenience retailers in Argentina were affected by the annual inflation rate, which reached a triple-digit figure in 2023. Consequently, consumers experienced a significant weakening of their purchasing power. This had some benefits for convenience…