Food-to-go specialists are stealing market share from convenience stores, driven by younger consumers, HIM and MCA’s Convenience Report reveals.
Younger consumers are being lured towards fast food outlets, coffee shops and sandwich retailers, such as McDonald’s, Costa Coffee and Greggs, which are outperforming retailers with higher quality products, while maintaining speed of service.
The report found foodservice operators’ market share was up 2.9 percentage points (pp) while convenience stores fell by 0.3pp, as the latter’s core consumer becomes older.
The report highlighted 28% of shoppers in the convenience channel are under the age of 34, compared with 30% last year.
Meanwhile standalone restaurants and shops are set to become a thing of the past, with the blurring of channels, as foodservice brands enter retail and retailers develop food concessions and eating out propositions.
Blonnie Walsh, senior insight manager at HIM and MCA Insight said: “Food to go has been a talking point for some time, however strong competition from FTG specialists is eating away at convenience’s share of the market.”
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