Small format expansion
The growth of smaller format stores has been a key theme over the past five years. While China leads this growth in terms of store numbers, the fastest rate of growth in minimarket store openings was seen in markets like Malaysia, while Thailand continued to witness rapid convenience store expansion.
This has resulted in increased purchases of everyday groceries from convenience stories, but has also met with an increase in smaller shopping trips and fewer trips for major pantry re-stocking efforts. With lifestyle changes, growth in middle-class populations and an increase in single person and small households, this trend will only increase over the coming years.