Convenience Store Market in India 2012
The Convenience Store Market in India is part of Netscribes’ Consumer Goods Industry Series reports. The market will be boosted by the rising income levels coupled with changing lifestyle, resulting in increased demand for convenience shopping.
The report begins with an introduction section, comprising of the description of convenience stores along with the significant focus areas for the development of the domestic convenience store market. The next section provides the global outlook of the convenience store market, mentioning the growth of convenience stores in Japan and the United States. The market overview section begins with the retail industry overview in India, including the market size and growth of the retail sector with distinct share of organized and traditional retail. It also provides a brief idea about the retail supply chain and mentions the ways in which modern retail supply chain is leading to cost reduction. This section also includes the various organized retail formats, providing a brief description and few examples of each format. This is followed by the Convenience store market in India, providing details on the domestic organized convenience store market size in terms of market value and its growth. It also mentions the necessary factors for the success of the convenience stores. Another detailed illustration about the changing shopping trend has been included. Further, the report provides a description of the major segments which attracts consumer spending and their share in the overall retail sector. Food and groceries has always been the most frequently purchased and largest selling segment in the Indian retail sector.
Factors driving the growth of convenience store market in India are also explained in detail. Rising income levels coupled with growing consumerism is providing impetus to the growth in convenience store market. India is one of the most lucrative consumer markets in the world with about one sixth of the global population. Increasing purchases due to ease of payments via plastic cards, stimulates the demand for more convenience stores across the country. Evolving demographics and consumer behavior in India strongly supports the concept of modern retailing, which enables the players to increase their domestic customer base. Growing acceptance towards foreign direct investment in retail creates a favorable impact on the growth of the convenience stores market.
The players operating in the market also face challenges which are impeding their development and growth. Large geographic spread and lack of logistics support have been identified as major challenges. Regulatory challenges are slowing down the pace of growth of the convenience store market. Human resource constraints hamper the management and service facilities in a convenience store. Further, customer migration from convenience stores to hypermarkets is leading to a loss in the existing customer base of a convenience store.
The report also highlights the real estate issues faced by the convenience store players. It mentions the difficulties in finding a suitable property in any central location.
The competition section begins with the Porter’s Five Forces Analysis, illustrating the competitive rivalry, bargaining power of suppliers and buyers and threat of new entrants and substitutes. It outlays the competitive landscape of the convenience store market in India briefing about the domestic players existing in the market. This section provides a three dimensional analysis of domestic key players’ revenues, profits and market capitalization. The report also features brief profiles of major domestic players in the market and a snapshot of their corporation, financial performance along with the key financial ratios, business highlights and their product portfolio providing an insight into the existing competitive scenario.
Some of the key statistics or factors impacting the convenience store market in India covered in the report include global market size and growth, growth of convenience stores in Japan, US and UK, retail market size and growth in India, retail supply chain, organized retail formats, organized convenience store market size and growth, convenience store success factors, changing shopping trend in India, consumer spending- major segments, consumer demands in today’s shopping trend, growing aggregate consumption, growing aggregate disposable income, growing volume of cards, amount of transactions, demographic pattern, changing consumer behaviour, FDI timeline, insufficient cold storage, fragmented regulatory framework, complex tax policies, real estate issues.
The report concludes with a section on strategic recommendations which comprises an analysis of the growth strategies of the convenience store market in India.
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