Sales of consumer goods in convenience stores are rising rapidly, registering almost double growth this year based on a study conducted by Kantar Worldpanel, the world leader in consumer knowledge and insights.
Kantar Worldpanel, which tracked the shopping behavior of 3,000 Filipino homes in urban and rural areas across the country, said their findings showed a 45 percent increase in convenience store purchases from January 2014 to January 2015.
From 16.1 percent in 2014, 18.5 percent Filipino homes now buy in convenience stores, it said.
A typical convenience store has one to two checkout counters and is operational 24 hours a day like 7-Eleven, Mini Stop and Family Mart. This increase in number of customers translates to an additional 566,991 families buying goods from convenience stores.
The convenience store channel is the fastest growing retail channel in the Philippines. It has 31 percent direct sales compared with 11 percent for drug stores.
Food comprises 59.3 percent of sales followed by beverages at 23.8 percent and personal
care products at 13.5 percent.
Filipinos’ top four food purchases include ice cream, total milk, snacks, and alcoholic beverages. New items have emerged in the list such as diapers, water, and fabric cleaners.
Kantar Worldpanel said majority of convenience store buyers are in the NCR, South Luzon, and Mindanao, and they represent Class ABC and E urban households that are typically comprised of older homes with residents aged 13 and above.