Coles Launches First C-Store Format
Called Coles Local, the smaller footprint store is stocked with prepared meals and premium products.
Nov 14, 2018
MELBOURNE, Australia – Coles, an Australian supermarket chain, has debuted its first Coles Local, a convenience store concept store, the Sydney Morning Herald reports. Coles Local features prepared meals and high-end products in a smaller footprint. The company said it would be opening more Coles Locals in the coming months.
“This is a high-growth channel whenever you look in the developed world,” said Coles CEO Steven Cain. “Consumers in Coles 10 years ago were buying groceries once or twice a week. They’re now buying fresh food three or four times a week and they’re very focused on what’s for dinner tonight. There’s a high appetite in Australia to eat out and for takeaways, and there’s a high demand for good quality food. It is quite a significant change.”
Coles, along with competitor Woolworths, has shifted focus from price to products, convenience and service, as newcomers Kaufland and Aldi horn in on their territories. Woolworths has been opening Metro stores, a downsized version, for the past two years.
Retail Oasis consultant Steve Kulmar pointed to higher-density urban areas with residents who wish to stop by a store regularly to purchase an evening meal. “I think it’s pretty much going to be their growth driver for the next 10 years,” Kulmar said. “Shopping centers have been failing in footfall for the last two or three years, and they’ll only continue to fail, so big-format supermarkets are limited in their growth potential. The corner-store on transit, on train lines and on bus lines, is absolutely the way of the future.”
Global
