Thailand's convenience store market to grow at 12% a year
Thailand's convenience store market is expected to grow at an annual rate of 12% between 2014 and 2020, according to the “Thailand Convenience Store Market Outlook.”
The report finds that the Thai population has embraced modern retail, which has created ample demand and promising possibilities for the retailers to boost their growth – at a CARG of 12% over the next four years.
The expected growth is set to be driven by rapid expansion of retailers and the growing demand for convenience stores due to an increase in purchasing power of consumers.
According to researchers, the convenience store industry is noticing fast developments, and presents huge potential for industry players.
It has been found that though 7-Eleven is the most popular convenience store player, Tesco and Family Mart are giving tough competition to them in the Thailand market.
Global retailer 7-Eleven has 8,469 stores in Thailand, signifying the country with the most stores of the iconic brand after Japan.
The “Thailand Convenience Store Market Outlook” report can be found here.
