Convenience stores sell a limited range of high priced goods while their supermarket competitors sell a huge range of low priced goods. How can both survive?
In Honolulu a chain of convenience stores called ABC (All Blocks Covered) can be found on most city corners and operate from 6am to 11pm. In Mexico, the OXO chain opens three small stores every day – yes, every day. In China they calculate that mini grocery stores positioned in apartment areas will attract regular shoppers within a 500 metre radius for all their basic needs.So how do these overpriced minis survive? It is in their name – convenience. Convenience stores don’t provide price value, they provide time value. Convenience stores don’t satisfy shopper’s wants, they provide shopper’s needs. There are many examples of convenience stores in Australia and the city of Melbourne has seen a surge in corner stores as the number of city dwellers continues to rise.
In Australia we are lucky enough to experience high employment and our busy lives need the convenience these stores provide. Corner Milk Bars didn’t die after all.