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RNCOS Research: New Delhi Gets Its First Convenience Store
It was the last week of January 2006, when Delhi got its first 24x7 convenience store. Changing lifestyle and increased purchasing power of Indians is encouraging the rapid growth of shopping malls and new retail chains in the country.
/Franchise PR News/ - NEW DELHI, INDIA, March 19, 2006 - It was the last week of January 2006, when Delhi got its first 24x7 convenience store. Changing lifestyle and increased purchasing power of Indians is encouraging the rapid growth of shopping malls and new retail chains in the country. The Indian customers now prefer international shopping experience to the traditional retail shopping.
Indians are welcoming this 24x7 retail culture because traditional shopping culture doesn't fit the needs of the consumers of today. They find it nearly impossible to spare some time to go to the market. Convenience stores, on the other hand, offer them the flexibility to go for shopping the moment they get some free time out of their daily hectic schedules.
As per market experts, the range of products and services offered under the same roof is the biggest force why these convenience stores are becoming popular amongst the consumers. Besides processed fresh meat or other edibles, cut veggies or fruits for instant cooking, these convenience stores offer certain other facilities such as courier services, utility bill payment services and so on.
People in developed countries are highly dependent on these convenience stores for their day-to-day needs. Convenience stores have been making waves in U.S. for years. In America and Canada, hundreds of convenience stores cater to the requirements of more than six million customers at present.
As per a recent research report titled "Asian Convenience Store Industry Analysis (2005-2009)" published by RNCOS, the C-store market has recorded a 14% extra growth as compared to that of the global market growth in 2004. China exhibited an outstanding growth in C-store market as it crossed a figure of 20,000 in 2004.
Though southeast isn't a good option to go for while choosing the right location. East -Asia seems to be a better location for the growth of the industry, whereas retail opportunities are tremendous in the South. As per the report, China is the instant opportunity provider for this industry whereas India offers stable market for it.
Countries like India and Pakistan seem to be decent locations for the C-stores, as there's less or in fact no competition at present in this parts of the world. On the other hand, the beauty and charm of convenience stores has been completely ruined by severe competition in U.S.A and other countries.
Convenience stores are believed to drastically makeover the lifestyle of Indian consumers, as their buying habits are going to see a revolutionary change in the near future. The Indian collaboration with foreign retail and consumer goods companies will help in uplifting the life-style of the people of the country. As the Indian retail industry is altering tremendously, prominent business groups plan to open a series of C-stores in India.
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