We already know that over the years, consumer trends have evolved. Today and possibly during the next few years, convenience stores will be the main protagonists of the Retail landscape.
Recently, the study “Channel of convenience” of the AECOC reveals how this format is booming. 38% of respondents confess to making purchases at convenience stores. These stores are found in the city centers, and places of convenience such as transport stations, gas stations, etc. From large supermarket chains to the Swedish decoration giant, they have taken advantage of the trend and opened small stores in the centers of some cities. Do you want to know which retailers have adapted to this need? Take a look here.
What reasons push shoppers to make purchases at convenience stores?
- Lack of time
Today, the pace of life is vertiginous. We waste a lot of time commuting since distances are getting bigger. This happens because the price of housing in cities is becoming very expensive. That’s why many people choose to move abroad. In addition, the working hours are often extended. All this contributes to choosing the stores that are closest to our home or work, regardless of the size or variety of products.
According to Nielsen’s study, customers only spend 1 minute on each product they put in the basket. When paying, 54% ask to pay in less than 3 minutes. There are even customers who request to take less than 10 seconds to pay. Hence, supermarkets like Amazon Go have appeared.
- Catalog
Convenience stores are adapting to the particular needs of each store. A store located in an office area will not have the same customer profile as if it is located in a tourist area. Hence, the flexibility of these convenience stores allows them to adapt to the needs of their customers.
- Price vs time
54% know that convenience stores are more than other establishments. However, they are willing to pay more if this saves them time.
- Small homes
The high price of housing forces many to share an apartment or live in small studios with little storage space. This makes purchases more assiduous but much smaller, so convenience stores fit this reality perfectly.
- Opening hours
Long working hours often prevent us from arriving on time at the conventional supermarkets. However, convenience stores are usually open more hours. They open sooner and close later.
Opportunities for convenience stores
Since the clients of these establishments come out of necessity or urgency, surely their consumption is more impulsive, so there is more opportunity to increase cross-selling. To do this, you have to use very simple but effective techniques.
- Foster the urgency with promotions like “ONLY TODAY”
- Use large and striking signage
- Having 3×2 promotions and similar
Conventional Store Data
64% of consumers say they go to conventional stores to buy fresh produce (meat, fish, fruit, and vegetables). This also happens if the consumer plans to buy more than five items.
Proximity store data
Consumers attend an average of 2.5 times a week. However, this type of store does not encourage customer loyalty. 33% of consumers say they go to these establishments if they are in their way.
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