Convenience store

A convenience store is a small store that stocks a range of everyday items. These include groceries, snack foods, candy, toiletries, soft drinks, tobacco products, and newspapers. They may also offer money order and wire transfer services. In some places, corner stores are licensed to sell alcohol, typically beer and wine. 

They differ from general stores and village shops in that they are not usually in rural areas. A convenience store may be part of a gas/petrol station chain. It may be located alongside a busy road, in an urban area, or near a railway or railroad station or other transport hub. In some countries, convenience stores have long shopping hours, some being open 24 hours.

Convenience stores usually charge higher prices than conventional grocery stores or supermarkets.Getting Prices Right: The Debate Over the Consumer Price Index, ed. Dean Baker; Economic Policy Institute (Armonk, NY: M.E. Sharpe, 1998), p. 32 But convenience stores have gained market share. This shows consumers are willing to pay more for convenience. Convenience stores order smaller quantities of inventory at higher per-unit prices from wholesalers. However convenience stores make up for this with the convenience by having longer opening hours, serving more locations, and having shorter checkout lines.

 References 

Category:Retail markets