Change in outlook and convenient shopping drive growth of convenience store market

MUMBAI, India - Dec. 11, 2014 - PRLog -- Though convenience store market in India is in a nascent stage, yet it is headed towards expansive growth in near future. Convenience stores in India have qualified to be the preferred shopping destination for the Indian urban consumers whose demand for convenience, quality, and service has sharply increased in the past couple of years. Certain determining factors work towards shaping the growth of such stores by translating the challenges into opportunities.

This report, Convenience Store Market in India 2014, gives an overview of the Indian retail sector between 2013 and 2018. The overview is accompanied by market size data. The report also gives a detailed analysis of the convenience market sector in India and its prospects. It focuses on the factors that are driving the growth of the industry while pointing out the factors that are having a negative impact on the growth impetus. There are sections on the major players in the market and the ways in which they are adapting to the changing market scenario. Government participation and regulations are also covered in this report.

Key players

Convenience store market in India is a fast growing one, with the result that it is drawing investments from a lot of big companies. The major companies in this sector range from public sector companies to private ones. Two of the biggest companies in the public sector are Bharat Petroleum Corporation Ltd., and REI Six Ten Retail Ltd. Some of the major players in the private sector are Bharti Retail Ltd., Mother Dairy Fruit and Vegetable Pvt. Ltd., Reliance Retail Ltd. and Twenty Four Seven Retail Stores Pvt. Ltd.

Trends dominating the convenience store market

Varying shopping trends noticed among Indian consumers have primarily determined the course of growth story for convenience stores. Drivers such as rising income levels, ease of payment through cards, changing demographics and lifestyle along with FDI in retail have steered the sector towards growth. The sector has witnessed government participation through FDI, single and multi-brand retailing and Goods and Services Tax. Though there are not many players dotting the sector, yet good prospect is noticed in their gradual dominance and increasing revenue structure. The sector still has a long distance to travel, especially when impediments like human resource constraints, customer migration, lack of logistics support and regulatory challenges continue to baffle. However, the general outlook of the industry looks bright and set for a period of a steady growth.