Retail in Asia

In Markets

Convenience-store wave keeps rolling in Asia-Pacific

Visit any major Asian city and you can’t walk more than a couple of hundred metres without seeing a modern, branded convenience store. These outlets, with their increasingly innovative product offerings aimed at time-short city dwellers, are growing at a pace that exceeds that of the retail industry as a whole.

The sales growth of convenience stores across Asia-Pacific from 2014-19 is estimated at 14 percent annually in constant terms, according to Euromonitor International, a London-based market research company. For entire grocery channel, the figure is slightly lower at 12 percent.

"[Convenience store sales] growth is expected to be healthy but slightly below the global average due to the maturity in the Asian market," said Timothy Barrett, a retailing analyst at Euromonitor. "Much of this will be derived from outlet growth, which is expected to outpace sales growth."

(Source: Bangkok Post)