Would you like to ask about the development prospect of convenience stores in China?

There are few major listed companies in the convenience store industry, and there are two main types of unlisted companies. Traditional stores: Convenience Bee, Fu Jian, Shizu, 7-ELEVEN, Family, Rosen, Tianfu, Kunlun Hospitality, Meiyijia, Yi Jie, Family Fun, Suning Store and other inconvenient modes mainly include: colorful fruits; Xiaohui convenience warehouse; Hi cabinet; Downstairs; Lightning; Wheat is convenient; Scarlet convenience; Ginger is convenient; Daily freshness and so on.

The core data of this paper: the online rate of convenience stores; Urbanization rate; Night economy; Night consumption ratio of convenience stores

In the past two years, a series of policies issued by the Ministry of Commerce have pointed out the development direction and laid the foundation for the development of convenience stores in China. Chain enterprises are more aware of this and have tried digital transformation and upgrading. Relevant policies issued by the state have directly and indirectly promoted the development of convenience store industry.

The digital transformation of convenience stores has accelerated, and the logistics distribution has the highest degree of digitalization.

In the digital construction of convenience stores, the proportion of online business opened by 20 16-20 19 convenience stores showed a gradual and stable upward trend, and the growth rate in 2020 was more obvious in 20 19. By 2020, the online business opening rate of convenience store enterprises in China is as high as 73%, which further catalyzes the development of online business.

Note: online rate = online business/heavy business * 100%.

Judging from the different application scenarios of convenience stores, the key point of its digitalization mainly lies in the intelligence of logistics distribution. In 20 19, the online business of logistics distribution and intelligent optimization and upgrading accounted for 73%, followed by the online business of intelligent monitoring system accounting for 33%, and the online business carried out by unmanned stores accounted for the least.

Three factors promote the digital transformation of convenience stores

-Policy-driven: the state has continuously introduced favorable policies for convenience stores to promote the digital development of convenience stores.

The two vertical industry policies are more instructive and targeted to the development direction of convenience store industry. "Strengthening the policy guarantee of network layout planning" will improve the phenomenon of seizing "hot spots" at no cost in the industry; Simplifying the licensing process, optimizing the licensing conditions for food business, simplifying the examination and approval procedures for drug business, and launching a pilot program for simplifying the examination and approval procedures for tobacco business will all help chain convenience store enterprises improve the licensing efficiency and accelerate the expansion of stores.

The release of corresponding macro policies indirectly promotes the external macro environment conducive to the development of convenience stores, such as the development of urbanization, the increase of target consumers, and the development support of the underlying technical framework.

-technology-driven: the underlying technological innovation empowers the digital development of convenience store formats.

In the development of the underlying technologies and applications related to digitalization, China has developed rapidly, and many technologies have enabled the digital format of convenience stores to develop. For example, modern information technologies such as Internet of Things, big data, cloud computing, mobile payment and visualization technology can empower stores and improve the level of intelligent management. Big data-driven commodity procurement, inventory management, and sales forecasting will provide early warning for abnormal situations such as out-of-stock and expired commodities, promote efficient coordination of the entire supply chain, and improve operational efficiency.

The expansion of urban population and the development of night economy have accelerated the digitalization of convenience stores.

Because the convenience store economy has serious urban economic attributes. The improvement of urbanization level promotes the increase of urban population and urban area, and the areas suitable for convenience store operation are increasing, which lays the foundation for the development of chain convenience store industry. In addition, the convenience store is a near-field format, which has certain requirements for the surrounding passenger flow and the number of times of entering the store. In 2020, the urbanization rate of China will reach 63.89%, and the increase of urban population will be beneficial to the development of convenience stores.

In terms of changing consumption habits, influenced by the changes of consumer groups and the fast-paced living habits of urban young people, the development of night economy puts forward higher requirements for the functionality and emergency of convenience stores, and digitalization is imperative.

Since 20 16, China's nighttime economy has grown rapidly. By the end of 2020, China's nighttime economy has exceeded 30 trillion yuan, an increase of 5.0% over the same period of 20 19. Moreover, in order to stimulate consumption under normal epidemic situation, governments all over China have increased their support for the night economy. At the same time, the service market of night consumption places has increased, and people's demand for night consumption has increased, so the development scale of China's night economy will continue to grow.

In terms of functional attributes, convenience stores in the new retail scene account for 85% of the night economy because of their greater convenience and emergency. Moreover, it is a challenge for convenience stores to provide customers with more value while standardizing chain operation, such as hot meal supply and suitable product selection to meet the consumption habits of a new generation of consumers. Therefore, digital transformation is imminent.

The above data refer to the Analysis Report on Market Foresight and Investment Strategic Planning of Convenience Store Industry in China by Forward-looking Industry Research Institute.