Table of Contents
Executive Summary
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- Issues and Insights
- A relaxing space to drop by and stay for a while
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- Figure 1: Good Spot convenience store in Zhangzhou, Fujian, 2023
- A reliable and easily-accessible community hub
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- Figure 2: Taiwan FamilyMart ‘0800 telling stories’, 2022
- An inspiring place to explore with curiosity
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- Figure 3: LAWSON IP Buy WeChat Mini Program Screenshot, 2023
- The Market Summary
- Convenience store sales continue to outpace overall retail
- Convenience store leaders expand nationwide at a rapid pace
- Online-merge-offline retailing is reshaping the landscape of convenience stores
- Product and service differentiation in the spotlight
- What we think
Market Size and Forecast
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- Convenience store sales continue to outpace overall retail
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- Figure 4: Convenience stores sales revenue (excluding petrol station convenience stores) and forecast, 2017-27
- Both demand and policy drive continued growth in the number of convenience stores
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- Figure 5: Convenience store number (excluding petrol station convenience stores) and forecast, 2017-27
Market Factors
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- Convenience store leaders expand nationwide at a rapid pace
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- Figure 6: Store count and growth rate of MEIYIJIA and LAWSON, 2020 vs 2022
- Online-merge-offline retailing is reshaping the landscape of convenience stores
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- Figure 7: JD Convenience Store, 2023
- Product and service differentiation in the spotlight
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- Figure 8: Purchased freshly-made coffee channels, 2022
- In-store relaxation as an important feature of convenience stores
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- Figure 9: 7-Eleven Shanghai Xuhui Binjiang store, 2023
- Social media boosts fun in convenience stores
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- Figure 10: DIY food and drink tutorial for convenience stores on Xiaohongshu, 2023
- Unmanned convenience stores fading out, 'human touch' is irreplaceable
Who’s Innovating?
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- New service helps convenience stores easily achieve 24-hour operation
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- Figure 11: Bangke cloud-based watching service introduction and user interface screenshots, 2023
- Drug purchases in convenience store
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- Figure 12: Convenient medicine cabinet in MEIYIJIA convenience store, 2022
- Self-service laundry model
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- Figure 13: Changsha 7-Eleven x ifunwash store, 2022
- Simplified membership system of an annual fee and fixed discount
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- Figure 14: Membership policy of FamilyMart, 2023
- Attracting gaming groups through IP collaboration
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- Figure 15: LAWSON x Game for Peace, 2023
- Strengthening local identity by introducing local brand partnerships
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- Figure 16: EGO x Guangmingcun Restaurant, 2023
Shopping Frequency
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- Convenience store visiting frequency has returned to a pre-pandemic level
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- Figure 17: Convenience store shopping frequency, 2019 vs 2023
- Lower tier cities see more frequent shoppers
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- Figure 18: Convenience store shopping frequency – shop once a day or more, by city tier, 2023
- Increase of alternative channels might have impacted high-income visitation frequency in higher tier cities
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- Figure 19: Convenience store shopping frequency – shop once a day or more, by city tier and monthly personal income, 2023
Reasons and Interests
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- Opportunities for ready-to-eat food and private label products
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- Figure 20: Reasons and interests, 2023
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- Figure 21: Reasons and interests – ‘yes’, selected items, by gender and city tier, 2023
- Shopping environment and engagement more important for higher income consumers
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- Figure 22: Reasons and interests – ‘yes’, selected items, by monthly personal income, 2023
- Membership system can efficiently encourage frequent visitors’ loyalty
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- Figure 23: Reasons and interests – ‘yes’, selected items, by shopping frequency, 2023
Purchase Categories and Timing
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- Morning is the busiest times of day for convenience stores
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- Figure 24: In-store products bought, by time period, 2023
- Higher income groups’ shopping list is more diverse
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- Figure 25: In-store products bought, by monthly personal income, 2023
- Online deliver on-demand from convenience stores has become commonplace in all city tiers
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- Figure 26: Order online and deliver on-demand products, by city tier, 2023
Brand Image and Perception of Importance
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- Gaps between major domestic and Japanese brands narrow down
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- Figure 27: Brand image and perception of importance, by brand, 2023
- Smoker consumers expect more attractive, unique and high-end products from convenience stores
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- Figure 28: Brand image and perception of importance, by smoker and non-smoker, 2023
- Long business hours prioritised by frequent shoppers
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- Figure 29: Brand image and perception of importance, by shopping frequency, 2023
Attitudes towards Membership
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- Concerns about membership systems are still prevalent
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- Figure 30: Attitudes towards membership, by shopping frequency, 2023
- Privacy protection and precise recommendation are more import for men regardless of shopping frequency
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- Figure 31: Attitudes towards membership – selected items, by gender and shipping frequency, 2023
- Reminders of membership usage can improve young consumers’ shopping experience
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- Figure 32: Attitudes towards membership – selected items, by age, 2023
Preferable Additional Service
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- Both the expansion of product categories and services are expected
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- Figure 33: Product/service expansion preference, by shopping frequency, 2023
- Women's skincare/cosmetic needs and men's fitness needs are worth considering
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- Figure 34: Product/service expansion preference, by gender, 2023
- Pet-friendly space and products could create new opportunities
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- Figure 35: Product/service expansion preference, by living with pet or not, 2023
Appendix – Methodology and Abbreviations
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- Methodology
- Abbreviations
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