What is the development prospect of convenience stores in China?

Convenience store industry development status in China

1, China's convenience store store stores

In the past few years, the convenience store is a rare entity in the retail industry still maintain growth, its market size and density are in the rising trend. In addition to the scale of expansion in the first tier, the convenience store opening wave at the same time also rapid influx of second and third tier cities, especially chain brand convenience stores. According to CCFA data, China's convenience stores showed an accelerated growth trend from 2015 to 2021, especially in 2020, a year-on-year growth of 46.2%. By the end of 2021, the number of convenience store outlets in China reached 253,000, totaling 31.1% growth.

2. China's convenience store sales revenue

According to data released by CCFA, China's convenience store industry sales rose from 118.1 billion yuan in 2015 to 349.2 billion yuan in 2021, with a compound annual growth rate of nearly 20%. In recent years, the size of the convenience store industry growth rate performance is significantly higher than the overall level of the offline retail market. According to data from the National Bureau of Statistics, the sales growth rate of the convenience store industry has been higher than the industry growth rate of department stores and hypermarkets for many consecutive years, becoming the fastest-growing segment of the offline retail industry.

3, China's convenience store store scale

From the point of view of the store scale, in 2021, the national convenience store store store scale reached 253,000, of which the branded convenience store chain 163,000, a growth rate of about 13%, China's convenience store store store scale to continue the growth trend.

From the comparison of the number of convenience store stores of each brand, the number of convenience store stores in 2021 reached 28,249 for the country's largest, nearly 2,000 higher than the second-place Meijijia; the number of stores of the top ten convenience store number of the sum of about 103,000, accounting for about 40% of the total number of convenience store stores in the country.

4, China's convenience store market penetration

Combined with the population released by the National Bureau of Statistics and the number of convenience store stores released by CCFA calculated that, in 2020, the market penetration rate of China's convenience store industry to reach 7,317 people/store; in 2021, this figure fell to 5,583 people/store, indicating that China's Convenience store single store to meet the number of people in the region narrowed, people can reach more and more convenience stores.

For more research and analysis of this industry, please refer to the "China Convenience Store Industry Development Outlook and Investment Strategy Planning Analysis Report" by Prospect Industry Research Institute

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