BUSINESS INTELLIGENCE
GLOBAL CONVENIENCE MARKET IGD
Global convenience to add $43.1bn in sales in five years
T
IGD report reveals new global trends in convenience retailing.
he top 10 global convenience grow in Russia, fuelled by migration to meals, and CU also had a 3+2 deal in July, players will add $43.1bn in sales big cities, a decline in traditional trade, covering 1,500 products. These are shortby 2026, a new report forecasts. increased price sensitivity and consum- term promotions designed to re-engage The report by IGD, says that the US, ers seeking easier shopping experiences.” shoppers and generate excitement. China and Russia are the key markets In South Korea, convenience operaThe report also highlights that seven driving the growth. It forecasts of the top 10 convenience retailthat 7-Eleven, which operates, “Globally, 7-Eleven continues to drive the ers for sales per square metre are franchises and/or licenses more market, followed by FamilyMart, but we will based in Europe, with the top see the strongest growth from Magnit.” than 77,000 stores in 16 counthree from the UK – Sainsbury’s, tries, will maintain a significant Charles Chan Tesco and Co-op. lead globally. In the UK convenience sales Charles Chan, Senior Retail Analyst tors are coming up with new multi-buy are forecast to grow by 12.5% (+£5.5bn) and author of the report, said: “Globally, deals, which sit alongside the usual by 2026, driven by a continued focus on 7-Eleven continues to drive the market, “buy-one-get-one-free” or “buy-two- neighbourhood locations, underpinned followed by FamilyMart, but we will see get-one-free” deals. Emart24 launched a by higher levels of working from home the strongest growth from Magnit. This 1+4 deal for facial masks in July, 7-Eleven and suburban living. will mainly be driven by store expansion has a 1+2 deal for 77 selected products, The report reveals that the top-up as demand for convenience continues to including beverages and ready-to-eat shop plays a significant role in European shopper habits – with larger basket sizes and stores that carry a wider range of goods – unlike other regions. Chan added: “The global convenience landscape varies considerably; retailers will need to focus on investing in the right markets. “Building flexibility into stores to Seven meet different shopper missions for of the top different times and days of the week 10 convenience will be a priority and technology and retailers for sales per square metre omnichannel retail will play a significant are based in role in delivering fresher, faster and simEurope pler shopper experiences.”
18 I SLRMAG.CO.UK / ISSUE 69 / WEDNESDAY 18TH AUGUST 2021
