China's insistence on evolution backed by the growing economy, rising purchasing power, and strong consumer confidence has shaped the convenience store industry in the country. Active participation by the regional sector and growing interest of international players have driven the convenience store industry to emerge as one of the largest industries holding huge potential for future growth. Backed by regional domination, the number of convenience store in the country is expected to grow at a CAGR of 6% during 2014-2020.
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Further by our new analysis in the latest research report, "China Convenience Store Outlook 2020", the China convenience store industry has been witnessing strong growth in the sales for the past few years and is expected to grow in the coming years as well. Increased demand for convenience and time saving options has led to the opening of additional stores, while expansion of the players in the country. Thus, the report delivers on the developments in both retail and convenience store sectors of country.
As per our research, the industry is expected to continue its growth impetus, as smaller retail format is gaining popularity in China's retail market recently As small-scale retailers, convenience stores have the benefit of closer access to customers, while providing quicker services.
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Our report also provides retail market forecasts till 2020 for China. According to our research, the retail industry of China is expected to grow as the players are taking initiatives like offering pick-up services in-store, accepting mobile payment, selling through social networks etc. Additionally some convenience store chains have also opened specialist theme stores for wooing more potential consumers. Further, the share of convenience store sales in total retail sales has also been incorporated for the country.
The report provides a complete overview of the convenience store industry in China. All the current trends of the industry have been evaluated in the report. Further, it provides profiles of the major players including Sinopec Group, PetroChina Co.,Ltd, FamilyMart Co.,Ltd, which will help clients to gain insights on their overall business and recent activities of these companies. Overall, the report presents optimum information and balanced research outlook on the potentials of the convenience store sector in China.