Jaime O.
Matigas
April Carino
Johnlit Canonce
Jeff madulara Sanchez
CBMC2_ 31688
SWOT analysis for a daily convenience store business
Strengths
Convenience: Daily
convenience stores are
typically located in areas
where people
live, work, or
travel, making them a
convenient option for
customers to purchase
everyday items.
Competitive prices:
Customers can afford daily
convenience stores
because they frequently
provide competitive prices
for their goods.
Long hours of
operation: Customers can
easily access products
even outside of regular
business hours thanks to
the 24-hour operation of
many daily convenience
stores.
Weaknesses Opportunities
Limited product Expanding product
selection: Daily selection: Daily
convenience stores may convenience stores should
not have the same increase the amount of
fresh produce, prepared
assortment of products
foods, and other high-
as larger supermarkets
demand items they carry in
or hypermarkets, despite their product line-up.
their wide range of
offerings. Offering additional
services: Convenience
Higher prices: Daily stores can provide extra
convenience stores services like money
typically have higher transfers, check cashing,
overhead costs and and bill payment. This
charge higher prices than could boost their
traditional grocery stores profitability and provide
customers with even more
because of their smaller
convenience.
footprint.
Expanding into new
Limited space: Compared markets: Convenience
to grocery stores, daily stores on a daily basis have
convenience stores are the potential to grow into
usually smaller, which new markets, like
may restrict the variety underserved urban areas
of products they can or rural areas. Their
offer and the number of customer base can expand
patrons they can serve. and their sales can rise as a
result.
Threats
Competition from other
convenience stores: In the
convenience store industry,
there is fierce competition.
Along with supermarkets,
hypermarkets, and other
retailers, daily convenience
stores also have to contend
with other convenience
stores.
Economic
downturn: Consumer
spending may decline
during a recession, which
would be detrimental to the
convenience store sector.
Rising costs: The increasing
expenses of labor, food, and
energy can negatively
impact daily convenience
store profitability.
All things considered, there are opportunities, threats, and strengths and weaknesses in the
everyday convenience store industry. Owners of regular convenience stores can create plans to
maximize their advantages, reduce their disadvantages, seize opportunities, and neutralize
threats by carefully weighing these variables.