The Future of Convenience Stores in an Evolving Beverage Industry

Published By : 21 Dec 2015 | Published By : QYRESEARCH

With stiff competition from online sales and distribution channels in today’s rapidly growing food and beverages industry, convenience stores seem to have taken a hit, at least in some parts of the world. More often than not, the macrotrends that drive the overall food and beverages sector are valid for all forms of sales and distribution channels. Let’s take a look at some of the key trends that drive beverage sales in convenience stores. 

Function over Taste: With growing concerns driving a change in consumer habits, the beverage industry has also been influenced to a great extent. Consumers today want that their beverages meet a number of functional needs such as including fitness, relaxation, hydration, and energy. The impact of cable television and the internet has driven the demand for energy drinks, protein beverages, and bottled water. Convenience stores may not be able to compete with stores such as Walmart, where there is a wide variety of options for the consumer. However, easier access, time saving, and shorter lines serve as major advantages for convenience stores. Improved marketing can help such stores keep up with the rising competition. 

Changing Preferences: Multicultural influences impact the sales and marketing tactics of the entire beverage industry. The growing population has been evolving in tastes and preferences and international products have entered the market to cater to these changing palates. Convenience stores need to take into consideration this evolution and stock up on greater variety of product styles and flavors.

Recommendations Go a Long Way: Product value is no longer the only thing that matters to a consumer while making a choice or purchase. At a time where social media plays such as huge role in governing decisions and buying preferences, recommendation has become imperative. Whether it is a celebrity or just a friend – if the product is trending, it is sure to boost sales.

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