Convenience shopping has seen a notable increase in recent years, with this growing demand has led to the emergence of new convenience stores. The latest study by The Association of Convenience Stores, revealed that the average customer now visits their local store nearly three times per week.
The value of the convenience sector is set to grow from £47.1 billion to £50.6 billion between now and 2026. We have recently seen Asda has inaugurated its 100th express store, acquiring multiple locations from Co-op and EG Group. Simultaneously, Tesco has breached the 2000-store milestone for its Express stores this year.
Convenience stores play a central role in local communities, serving as more than just places to grab last-minute items. Many of these stores provide additional services such as postal/courier services and ATMs. Additionally, numerous convenience stores are situated at petrol forecourts.
In June 2023, Statista disclosed that although the consumer base is diverse, Millennials and Gen Z demonstrated a higher inclination than Baby Boomers to purchase everyday products from convenience stores.
These trends are linked to the increasing prevalence of hybrid, flexible, and home-based work arrangements. Recent research from CIPD indicates that 60% of employees currently enjoy flexible working arrangements, and 83% of organisations have implemented hybrid working practices.
It is logical to conclude that more time spent at home corresponds to a heightened preference for straightforward and convenient shopping.
But what does this mean for brands and advertisers?
Advertising in convenience stores presents a unique opportunity for brands to connect with consumers in a convenient, localised, and impactful manner, and here are some compelling reasons:
- High Footfall and Visibility: Convenience stores often experience high foot traffic due to their strategic locations in residential and urban areas. Advertising in these stores provides brands with increased visibility and exposure to a local audience.
- Impulse Buying Behaviour: 62% of in-store decisions are driven by impulse and convenience stores are known for catering to impulse purchases. Shoppers often make quick and unplanned buying decisions in these stores.
- Targeted Local Marketing: Convenience stores are embedded within local communities, making them ideal for targeted local marketing. Brands can tailor their advertising messages to suit the preferences and needs of the specific community in which the store is located.
- Convenient Access to Daily Essentials: People visit convenience stores for quick and easy access to daily essentials. Advertising in these stores allows brands to position themselves as convenient solutions for consumers’ immediate needs, creating a strong association between the brand and convenience.
- Enhanced In-Store Experience: In-store advertising can contribute to an enhanced shopping experience. Engaging and relevant ads can capture the attention of customers, making their shopping experience more enjoyable and memorable.
- Strategic Point of Purchase (POP) Placement: Placing ads strategically at points of purchase within convenience stores can influence buying decisions. Shoppers may be more likely to make additional purchases or try new products when prompted by well-placed ads near the entrance or checkout area.
- Complementing Digital Strategies: In-store advertising can complement a brand’s digital marketing strategies. Integrating online and offline advertising efforts enhances brand visibility and creates a cohesive marketing approach.
- Supporting Local Business Partnerships: Brands can build strong partnerships with local businesses. Collaborative efforts can benefit both the brand and the local community.
The synergy of substantial foot traffic, spontaneous purchasing tendencies, and focused local marketing renders convenience stores a compelling advertising avenue for brands aiming to enhance their presence and boost sales.
To learn more, visit our website or email us at sales@retailmediagroup.com
Sources: Retail Week, The Grocer, ACS, Statista, ScienceDirect
