The convenience store industry, which has focused on store efficiency, is now launching new stores centered on high-quality locations. After defending profitability through the cleanup of underperforming stores, the plan is to expand the number of stores again by focusing on large and specialized stores at key hubs.
According to the retail industry on the 13th, GS25, CU, Seven-Eleven, and E-Mart24 are strengthening their strategy to open stores in major commercial districts. According to the Ministry of Trade, Industry and Energy, the total number of stores for the four convenience store companies decreased for the first time since the introduction of convenience stores, reaching 53,266 at the end of last year, but as of July this year, it recorded 53,458 stores, returning to an upward trend.
Compared to the past when convenience store stores increased explosively, the rate of increase has slowed, but there is an assessment that after undergoing store efficiency improvements, new store openings are accelerating again. According to the industry, CU, which has the largest number of stores, added about 100 stores compared to the end of last year, and GS25, which saw a decrease in store numbers last year, has also returned to a net increase trend. Seven-Eleven also shifted its store count to an upward trend based on a strategy to maintain and strengthen existing stores. In the case of E-Mart24, it reduced 17 stores, but the scale of store reduction was smaller than before.
New store openings are focused on excellent locations and commercial districts with high growth potential. This is to secure not only nearby shopping demand but also purpose-driven customers looking for specific products and services. The background is to strengthen commercial district analysis by analyzing resident population and foot traffic, focusing on new residential developments and major commercial areas. In addition, while expanding the product lineup centered on large stores of 25 pyeong or more, they are also fiercely competing to attract high-quality stores from other brands whose contracts are nearing renewal.
The pace of opening specialized stores is also accelerating. CU plans to expand its health food specialty stores to over 2,000 locations and its shopping specialty stores to around 500 locations within the year. GS25 aims to increase its Fresh-Enhanced Stores (FCS), currently at 1,041, to 1,100 by the end of this year, while Seven-Eleven is seeking a gradual expansion of its next-generation franchise model, 'New Wave.' E-Mart24 also plans to increase its next-generation model, 'Standard Store,' to around 600 locations within the year.
An industry official said, "We should consider that store efficiency improvements by brand have entered the final stage," and added, "As consumer needs diversify, there will be more openings focused on high-quality stores and specialized stores rather than simply increasing the number of stores."
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