Opinion | Is India ready for 24/7 convenience store format?
Changes in consumer behaviour and lifestyle will drive growth of 24-hour stores
Last fortnight a subsidiary of Kishore Biyani’s Future Retail Ltd announced its plans to set up 7-Eleven brand of convenience stores in India. Biyani, founder and group CEO, Future Group, said the company was targeting a revenue of $1 billion in the next seven-eight years. 7-Eleven has over 60,000 outlets worldwide, which function as small-format convenience stores that stock both fresh and packaged foods, beverages as well as items of daily use. In India, Biyani emphasized, 7-Eleven will be urban-centric. “We will be open 24 hours wherever we can...I think the urban markets are ready for a format where customers can get their lunch, breakfast, dinner, a lot of food and convenience items," he said.