Convenience stores are outpacing supermarkets in Philippine growth, as sari-sari stores and market stalls shrunk, Nielsen research showed.
Convenience stores grew 20 percent in 2017, compared to 15 percent in the previous year. Sari-sari stores declined by 1 percent from 1 percent growth while market stalls fell by 3 percent, from zero growth in 2016, Nielsen said.
Small stores, including convenience stores and smaller versions of supermarkets, nearly doubled in number to 410 in the first quarter of 2018 from 220 in 2013, according to Nielsen’s Retail Establishment survey.
“Propelling the growth of small format stores is the increasing influence of four global megatrends which are supporting the growing consumer demand for faster and more convenient shopping experiences – urbanization, women joining the workforce, shrinking household size, and the rise of eating out,” Nielsen said.
The business process outsourcing industry also “stimulates” growth in these retail channels, it said. Nielsen polled 1,991 respondents aged 15 to 65 last December for the study, a summary of which was released on its website this week.