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TNS survey: Supermarkets losing shares to convenience stores
By Ding Yining |
July 4, 2012, Wednesday
|
Online Edition
Online Edition
Convenience stores will see their Shanghai market share rise faster than big supermarkets, an industry research shows.
FamilyMart, the Japanese retailer, will almost double its market share to 7.9 percent, while Hong Kong-based Watson may also expand 2.6 percent, according to a research report released by TNS Global today.
Bigger retailers like Carrefour and Tesco may find their profits eroded as shoppers develop brand loyalty to convenience stores, it says.
"Shanghai's young and cosmopolitan shoppers are moving away from the old hole-in-the-wall shops in favor of more modern retailers that suits their lifestyle," said Sandy Chen, senior research director at TNS China.
The report shows that FamilyMart's growing network and modern 24-hour format are luring young urbanites away from traditional hypermarkets.
Among other retailers mentioned in the study, Metro has the potential of adding market share by 2.5 percent while Bailian New Era Mall is likely to expand by 1.3 percentage points.
Many of the big names in the retail sector fail to notice that some shoppers are happily switching their allegiance if possible, which can bring extra market share for rivals, commented Jan Hofmeyr, chief researcher at TNS's Behavior Change project.
TNS's survey, conducted in the first quarter of this year, polled more than 3,600 consumers in China.
FamilyMart, the Japanese retailer, will almost double its market share to 7.9 percent, while Hong Kong-based Watson may also expand 2.6 percent, according to a research report released by TNS Global today.
Bigger retailers like Carrefour and Tesco may find their profits eroded as shoppers develop brand loyalty to convenience stores, it says.
"Shanghai's young and cosmopolitan shoppers are moving away from the old hole-in-the-wall shops in favor of more modern retailers that suits their lifestyle," said Sandy Chen, senior research director at TNS China.
The report shows that FamilyMart's growing network and modern 24-hour format are luring young urbanites away from traditional hypermarkets.
Among other retailers mentioned in the study, Metro has the potential of adding market share by 2.5 percent while Bailian New Era Mall is likely to expand by 1.3 percentage points.
Many of the big names in the retail sector fail to notice that some shoppers are happily switching their allegiance if possible, which can bring extra market share for rivals, commented Jan Hofmeyr, chief researcher at TNS's Behavior Change project.
TNS's survey, conducted in the first quarter of this year, polled more than 3,600 consumers in China.
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