Convenience Store Consumers by tsv85232

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Convenience Consumers

Description:    Past expectations about convenience stores have not been lived up to, but there are strong reasons
                why marketers should remain optimistic. Indeed the need for convenience is stronger than ever - it
                is a lack of understanding of consumer needs that is holding the market back. Convenience
                Consumers addresses this issue by providing unique insight and data on the development of
                consumer needs, shopping behavior and channel development in the future.Provides a
                comprehensive view of the state of convenience retailing across Europe, including petrol forecourt
                and vending machine analysisUnique data on consumer behavior, including frequency of
                convenience store visits and average spend per visitInsight into consumer needs when using the
                convenience channel and on how manufacturers and retailers can better exploit the
                opportunitiesThere is still significant growth potential in the convenience channel, with European
                convenience store sales expected to increase from €92bn in 2001 to €108.2bn in 2006. In order to
                benefit from this growth manufacturers and retailers will need to reassess their strategies.The key
                to exploiting the opportunity will be developing a greater understanding of consumer needs - and
                using this to refine product attributes and retail propositions. The future will see more convenience
                retailers offering not only "top-up" shopping but also "top-up solutions" that maximize the
                convenience value offered to consumers.There are several areas of potential expansion, such as the
                "on-the-move" market, emerging channels and new store formats. Success will depend upon
                reacting to consumer trends and behavior, which are often misunderstood. For example, did you
                know that in 2001 consumers in the C2DE social grade group accounted for 61% of convenience
                store sales?Accurately assess the most important consumer groups in the convenience channel and
                how to target themBetter understand the issues affecting your convenience store clients Redefine
                your retail strategy with actionable recommendations and insightsMeasure the impact of the latest
                trends on future market development with our forecasts and scenario-based modeling techniques



Contents:       OverviewIntroductionPast expectations about convenience stores have not been lived up to, but
                there are strong reasons why marketers should remain optimistic. Indeed the need for convenience
                is stronger than ever - it is a lack of understanding of consumer needs that is holding the market
                back. Convenience Consumers addresses this issue by providing unique insight and data on the
                development of consumer needs, shopping behavior and channel development in the
                future.ScopeProvides a comprehensive view of the state of convenience retailing across Europe,
                including petrol forecourt and vending machine analysisUnique data on consumer behavior,
                including frequency of convenience store visits and average spend per visitInsight into consumer
                needs when using the convenience channel and on how manufacturers and retailers can better
                exploit the opportunitiesReport HighlightsThere is still significant growth potential in the
                convenience channel, with European convenience store sales expected to increase from €92bn in
                2001 to €108.2bn in 2006. In order to benefit from this growth manufacturers and retailers will
                need to reassess their strategies.They key to exploiting the opportunity will be developing a greater
                understanding of consumer needs - and using this to refine product attributes and retail
                propositions. The future will see more convenience retailers offering not only "top-up" shopping but
                also "top-up solutions" that maximize the convenience value offered to consumers.There are
                several areas of potential expansion, such as the "on-the-move" market, emerging channels and
                new store formats. Success will depend upon reacting to consumer trends and behavior, which are
                often misunderstood. For example, did you know that in 2001 consumers in the C2DE social grade
                group accounted for 61% of convenience store sales?Reasons to PurchaseAccurately assess the
                most important consumer groups in the convenience channel and how to target themBetter
                understand the issues affecting your convenience store clients Redefine your retail strategy with
                actionable recommendations and insightsMeasure the impact of the latest trends on future market
                development with our forecasts and scenario-based modeling techniquesMARKET CONTEXTKey
                Findings: a €92bn market for convenienceTotal c-store sales in 2001 were €92bn, with Germany,
                France and the UK being the largest markets.Despite the hype consumers of lower social grade are
                the biggest c-store spenders, accounting for 61% of convenience store sales in 2001.In 2001, the
                average European made 1.1 visits to a convenience store per week, with there being a total of
                18.6bn c-store visits that year.Research MethodologyExtensive use is made of Datamonitor’s own
                food, drinks, personal care and retail sector databases. In addition, scenario forecasting techniques
            allow the effects of different trend development to be seen on consumer behavior.Market
            RegionsDespite being the largest convenience market in terms of sales, the UK has only
            approximately average c-store penetration and number of shopping trips per week.Italy is the only
            country to have above average c-store penetration and an above average number of shopping trips
            per week.The level of c-store penetration in the Netherlands is surprisingly low, despite the Dutch
            shopping frequently. This highlights that the Dutch use supermarket formats for small, regular
            purchases rather than using c-stores for these smaller shops.Drivers and TrendsSeveral factors
            have combined and resulted in the modern shopper making more “top-up” grocery purchases. The
            breakdown of family structures, greater demands on leisure time, more time spent traveling and
            commuting and daily routines becoming less well planned with the pace of modern life are all
            having a major effect on the way consumers shop.Singletons – average household sizes in western
            Europe have consistently fallen over the past decade and, in particular, more people under the age
            of 30 are no longer co-habiting. Importantly, these “singletons” tend to go out (and eat out) in the
            evening more frequently, eat at more irregular mealtimes in general and make fewer planned
            grocery purchases.Travel times – commuting and traveling times are also increasing and many
            consumers are seeking to minimize the effect of this on their leisure time by multi-tasking whilst
            traveling. Convenience stores have benefited as a result because consumers seek to shop, eat and
            drink whilst on the way to another location.FUTURE DECODEDThe future development of consumer
            behavior will have a major impact on the development of the convenience channel. Currently there
            is a shift towards consumers making greater amounts of “top-up” purchases as well as a major
            trend towards a rationalization of store numbers.The most probable future direction of the market
            will see a significant increase in the level of top-up shopping combining with a slight decrease in the
            number of c-stores. The result of these two trends will be an increase of 1.5bn c-store shops by
            2006 and an extra $16.2bn of spending in c-stores.If top-up shopping increases faster than
            expected there will not be a proportional increase in c-store sales. Instead the increased levels of
            top-up shopping will lead to decreased average basket sizes and average spend per shop.In the
            case that there is a greatly increased level of rationalization of c-stores then they way in which
            consumers use c-stores will change significantly. C-stores will increasingly become an alternative to
            supermarkets for medium-sized shopping trips.ACTION POINTSFour key action points for those
            interested in targeting the convenience channel are:Action Point 1 - more accurately identify
            consumers’ needsAction Point 2 - target on-the-move consumptionAction Point 3 - update NPD and
            marketing to exploit emerging retail trendsAction point 4 - target C2DEs with split stocking
            policies.APPENDIXThe appendix provides further information on the research methods used and
            specific sources referred to



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