Dairy Farm's Giant, 7-Eleven stores face fierce local competition

Is there a bleak future for these stores?

According to CIMB, in Singapore, Dairy Farm‟s Cold Storage supermarkets, which target the middle-to high-income consumer segments, continue to do well.

However, its Giant (mass-market segment) and 7-Eleven convenience stores experienced similar fierce competition from local players.

Here's more from CIMB:

Modern grocery retail accounted for 71% of the S$7.3bn total grocery spending in 2012. Modern grocery retailers posted 4.5% sales CAGR in 2007-12 to reach S$5.2bn. Modern grocery retail sales are expected to rise by 2.6% CAGR in 2012-17 to S$5.9bn.

Supermarkets are the biggest sales channel in Singapore, accounting for 73% of the modern grocery retail trade (S$3.8bn of S$5.2bn) in 2012. Supermarkets are expected to achieve 3.3% sales CAGR in 2012-17 to reach S$4.4bn.

Meanwhile, hypermarkets are expected to grow at 2.5% sales CAGR in 2012-17 to reach S$0.8bn. After aggressive expansion in the past five years, convenience stores have reached saturation point and are expected to be the slowest-growing channel, with sales rising by 0.8% CAGR in 2012-17 to S$0.6bn.

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