Market research firm RNCOS has released a report showing the Asian c-store market is the No. 1 region for convenience store development worldwide.
The report, titled "Opportunities in Asian C-store Market," says the rapid economic development in that area, along with the booming retail industry, has been propelling growth for the c-store industry across various Asian countries.
The increasing share of modern retail outlets and emerging trends in organized retailing are anticipated to drive the growth of c-stores in Asia in the near future, the report said.
7-Eleven is one U.S.-based retailer operating in that market, while other international c-store giants there include Tesco, Taiwan FamilyMart Co. and Lawson Inc., a Japanese retailer that actually started as a convenience store in Ohio but is now located only in Japan.
The RNCOS report examines the various technologies being integrated into c-stores at a fast pace in Asia, while also offering a brief overview of consumer behavior in that market.
The report looks at c-store markets in Hong Kong, South Korea, Taiwan, China, Malaysia, The Philippines, Singapore, Thailand, Vietnam, India, Japan and Indonesia.
Canada-based Couche-Tard, which operates Circle K in the U.S., recently announced plans to build convenience stores in Vietnam.
Some of the detailed findings in the RNCOS report: