Grocery Retailers in Pakistan

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GROCERY RETAILERS IN

PAKISTAN

Euromonitor International

April 2013


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G R O C E R Y R E T A I L E R S I N P A K I S T A N P a s s p o r t I

E u r o m o n i t o r I n t e r n a t i o n a l

LIST OF CONTENTS AND TABLES

Headlines ..................................................................................................................................... 1

Trends ......................................................... ................................................................. ................ 1Traditional Vs Modern ....................................................................................... ........................... 3Competitive Landscape ..................................................... ........................................................... 3Prospects ..................................................................................................................... ................ 4Channel Formats ............................................................... ........................................................... 5

Chart 1 Modern Grocery Retailers: Shell Select in Islamabad .................................. 5Chart 2 Modern Grocery Retailers: A Tuk Shop Attock Petroleum in

Islamabad .................................................................................................... 6Chart 3 Modern Grocery Retailers: Esajee in Islamabad .......................................... 7Chart 4 Traditional Grocery Retailers: Shams in Islamabad ................................ ..... 8Chart 5 Traditional Grocery Retailers: Gourmet in Lahore ........................................ 9Chart 6 Traditional Grocery Retailers: United Bakery in Islamabad ........................ 10

Chart 7 Traditional Grocery Retailers: Fruit and vegetable stall in Islamabad......... 11Channel Data ............................................................................................................................. 12

Table 1 Sales in Grocery Retailers by Channel: Value 2007-2012 ......................... 12Table 2 Grocery Retailers Outlets by Channel: Units 2007-2012 ............................ 13Table 3 Sales in Grocery Retailers by Channel: % Value Growth 2007-2012 ......... 13Table 4 Grocery Retailers Outlets by Channel: % Unit Growth 2007-2012 ............. 13Table 5 Grocery Retailers Company Shares: % Value 2008-2012 ......................... 14Table 6 Grocery Retailers Brand Shares: % Value 2009-2012 ............................... 14Table 7 Grocery Retailers Brand Shares: Outlets 2009-2012 ................................. 14Table 8 Grocery Retailers Brand Shares: Selling Space 2009-2012 ....................... 15Table 9 Forecast Sales in Grocery Retailers by Channel: Value 2012-2017 .......... 15Table 10 Forecast Grocery Retailers Outlets by Channel: Units 2012-2017 ............. 16Table 11 Forecast Sales in Grocery Retailers by Channel: % Value Growth

2012-2017 ............................................................... ................................... 16Table 12 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2012-

2017 ............................................................. .............................................. 16


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G R O C E R Y R E T A I L E R S I N P A K I S T A N P a s s p o r t 1


GROCERY RETAILERS IN PAKISTAN

HEADLINES Grocery retailers current value sales grow by 11% in 2012 to reach PKR1.9 trillion

Traditional grocery retailers experiences lower value sales growth compared to the modern

grocery channel

The total number of grocery retailers outlets grow by 1% in 2012 to reach 469,320

Utility Store Corp of Pakistan was the market leader among grocery retailers with 4% market

share in terms of value.

Grocery retailers is set to decline by a constant value CAGR of 1% over the forecast period

TRENDS

Trends and changed in grocery retailers in 2012 were in line with the ongoing changes inretailing over the review period with no significant new changes introduced to alter dynamics.

Traditional grocery retailers experienced slower growth of 10% compared to modern grocery

retailers which increased by 18%. Modern grocery retailers is growing from a comparatively

small base in terms of value sales but is at the forefront in terms of visibility and popularity

amongst consumers.

In line with changing l ifestyles and demands of an urbanising population, consumers are

going for one-stop solutions, lured by better prices, wider range of products, better, more

professional service and shopping convenience at modern grocery retailers making them less

dependent on neighbourhood grocery retailers. This also means that instead of shopping for

necessary items on a daily/weekly basis, consumers are shifting towards buying their grocery

needs on a monthly basis.

Other grocery retailers was the biggest channel in current value sales terms in 2012, with

76% share. Led by the wide network of government-owned Utility Store Corps Utility Store,

these retailers serve the local population through discount pricing and easy access to a large

variety of products. Present in large cities, small towns and villages, these retailers cover a

wide range of the population and are attractive places to shop from for a large segment of the

population. As the face of the government in retailing, expansion in the number of outlets and

use as a tool to provide relief from high inflation were the major activities occurring in this

channel in 2012.

Hypermarkets was the fastest growing channel in 2012 due to its small base. Current value

sales grew by 75% in 2012, mainly due to the opening of a new (second) outlet in a high

street mall (Dolmen Mall) in Karachi. Karachi is the largest city in Pakistan and also its

business hub tapping into this area is an important step forward for hypermarkets. Hyperstaris the currently the only player in hypermarkets and is planning on opening a third outlet in

Karachi in the latter half of 2012.

Supermarkets was also one of the top performing channels amongst grocery retailers in 2012.

Current value sales grew by 14% in 2012 which is above the average for grocery retailers and

outlets grew by 3% which is much higher than 1% for grocery retailers as a whole. Rising

popularity of this channel amongst consumers in urban centres led to more of them

frequenting supermarkets for their regular grocery needs. More outlets provided greater

coverage of urban centres, making it easier for consumers to opt to shop at supermarkets

instead of their neighbourhood small grocery stores.


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The share of groceries in supermarkets declined steadily over the review period, falling from

76% in 2005 to 73% in 2012. In the case of hypermarkets, the share of groceries fell from

68% to 67% from 2009 to 2012. This indicates that these modern grocery retailers are paying

more attention to non-grocery items by giving them more shelf-space this is caused by the

higher margins often associated with these items and the strategy of these retailers to providegreater product variety to consumers. Another reason for this trend can be the profile of the

consumers visiting supermarkets and hypermarkets urban middle to upper class shoppers

are increasingly spending more on non-essential grocery items as incomes and lifestyles

improve.

Discounters was not present in Pakistan in 2012.

There was a growing trend towards convenience in grocery retailing in Pakistan in 2012 as

convenience retailing is an upcoming modern retailing channel. There is little consumer

awareness or demand for more convenience stores as consumers are attuned to the

traditional form of grocery retailing, but current sales are growing at a substantial pace and

the trend is likely to catch on as urban consumers will appreciate the services that

convenience stores has to offer.

The unique selling point of forecourt retailers is that its operating hours and the association

with petrol pumps and CNG stations. Consumers are spending more and more time waiting in

lines at CNG stations and petrol pumps due to the frequent load shedding of CNG, especially

in the winter season. Forecourt retailers witnessed an increase of 14% in current value sales

in 2012.

Domestic retailers completely dominated grocery retailers with only a few exceptions such as

Hyperstar in hypermarkets. With the uncertain investment climate, not many foreign retailers

have entered or are operating in Pakistani grocery retailers and growth and sales are almost

completely driven by domestic retailers.

Convenience stores grew by 18% in current value terms, which is much slower than the

rapidly growing hypermarkets but marginally faster than the growth rate of supermarkets at

14%. This can be attributed to the more widespread coverage of convenience stores and thevalue consumers place on extended store timings.

Independent small grocers also competes through location and relationship with customers

proving to be its anchoring force. Its key strength is its longstanding presence and the

convenience of location which is a major factor in a time of fuel shortages and high fuel

prices, which make transportation an expensive commodity. Independent small grocers grew

by 13% in current value terms in 2012.

In 2012, the largest part of food/drink/tobacco specialists was accounted for food specialist

retailers. This is because food is a daily necessity while consumption of drink and tobacco is

limited to smaller population segments. Additionally, drink/tobacco specialists are decreasing

in popularity, as these products are stocked by general grocery retailers with a much wider

presence and even current specialists are moving towards expanding their product range to

stay in business. Food/drink/tobacco specialists grew at a strong pace of 16% in current value

terms in 2012 in response to growing population and demand for better quality food among

Pakistans urban population. New outlets of successful chains such as Rahat Bakers,

Gourmet Foods and Shezan indicated the consumers demand for quality and standardised

products.

Other grocery retailers include kiosks, market stalls and street vendors with a primary focus

on selling food, drink and tobacco. In addition to this, other grocery retailers also includes

Utility Store operated by Utility Store Corp of Pakistan, a government-run entity. This channel

also includes health food stores, confectioners, newsagents, food and drink souvenir stores

and regional speciality stores. Other grocery retailers increased by 9% in 2012 in current


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value terms, slower growth than posted in 2011 due to tough economic conditions for the

lower strata of the society which form the main consumers in this channel. Other grocery

retailers also faced strong competition from modern retailing channels.

Internet retailing of grocery products was negligible in Pakistan in 2012, with most emerging

internet retailing websites focusing on non-grocery items such as electronics and apparel.

TRADITIONAL VS MODERN

Traditional grocery retailers continued to dominate grocery retailing in Pakistan. This is

because Pakistan is still a developing country and a large proportion of its population lives in

rural areas where the reach of modern grocery retailing has not yet extended. Even in urban

areas, traditional grocery retailing has strong roots and deep linkages with society. However,

the value share of modern grocery retailers is on the rise due to gradual acceptance of

modern retailing among Pakistani consumers, mainly in the middle and upper class of urban

populations. In particular, hypermarkets and convenience stores are rapidly gaining

acceptance and value share in urban and suburban areas.

Traditional grocery retailers remains an important channel in Pakistan because it is deeply

rooted in the social and economic systems of society. From the credit lines extended by

independent small grocers to local neighbourhood communities to the omnipresence of Utility

Store outlets across the country, the traditional channels are very much alive and dominant in

the system. Modern retailing appeals to a particular segment of society due to their lifestyle

and income groups, and it is rapidly gaining acceptability.

The value share of traditional grocery retailers declined over the review period. This is

because many Pakistani consumers switched to modern grocery retailers in search of greater

convenience such as longer opening hours, better service, including clearly labelled prices, as

well as a wider range of products and higher product quality, specifically food which was kept

fresh through the use of refrigeration and imported premium brands. Realising the potential of

modern grocery retailing, many supermarkets and hypermarkets are expanding or have plansto expand into Pakistans suburban areas.

There are no specific government measures in Pakistan aimed at promoting either type of

grocery retailing channel over the other.

Traditional grocery retailers continued to compete on low prices and personal relationships

with customers. This channel usually chooses strategic locations such as neighbourhood

centres and busy markets in order to capture local customers. There is also some level of

support seen in the form of trade unions that attempt to protect the businesses from any

aggressive new entrants. Given that many traditional grocery retailers are small family-run

businesses, they may not have specific strategies in place to compete with modern grocery

retailers. For many traditional grocery retailers in Pakistan, it is very much business as usual

with no thought-out strategies in the face of the threat of modern grocery retailing formats.

COMPETITIVE LANDSCAPE

Utility Store Corp of Pakistan led grocery retailers during 2012 with a value share of 4%. Utility

Store Corp operated 6,012 outlets in Pakistan during 2012, an increase of 312 outlets from

the previous year. The wide spread of its outlets across Pakistan makes it convenient for

consumers to easily access the companys outlets.

Utility Store Corp witnessed the highest increase in value share in grocery retailing in 2012.

This was due to the sharp increase (6%) in the number of outlets and the strategy to open

mega stores in select places which has also helped boost sales. In t ough economic times


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with high inflation, the widespread network and the discount pricing that these retailers offer is

a welcome sight for consumers.

There were no mergers and acquisitions in 2012.

Different grocery retailers leverage on different strengths in order to attract customers. Many

traditional independent small grocers have established good relationships and a high level of

trust with their customers, especially those operating in rural areas and small towns. On the

other hand, modern grocery retailers focus more on product variety and the high quality of

their goods as well as more efficient customer service such as transparent pricing with clear

price label displays, electronic cash registers and the choice of either cash or credit card

payment. Moreover, large grocery retailers are able to offer their products at lower prices and

frequent discount promotions as they operate on a much larger scale.

Both modern grocery retailers and traditional grocery retailers in Pakistan have different

strengths in terms of regional coverage. Supermarkets and hypermarkets focus on major

cities, where the population concentration is high and the population is relatively affluent in

order to maximise sales and profits. However, these large retailers have yet to expand into

Pakistans less affluent areas. Convenience stores are mainly located in cities, suburbs and

town centres, where they provide extended opening hours and modern retailing facilities in

order to meet the growing demand for convenience shopping. Traditional small grocers

benefit from the widespread presence of these types of outlets throughout the country.

Domestic retailers increased in value sales more than international retailers during 2012 due

to better knowledge of consumer tastes and the cultural and the business environment in

Pakistan. Additionally, they have a widespread network of outlets and strong personal

relationships with consumers.

Modern and traditional grocery channels in Pakistan appeal to different target audiences.

Modern grocery retailers offer a greater variety of products but at above-average prices, while

also offering convenience, transparent transactions using electronic cash registers and a

better quality customer service, all of which are important to middle and upper-middle income

consumers. Traditional grocery retailers, on the other hand, appeal to lower middle-incomeconsumers, who account for 15% of the total population, and for whom price, convenience

and location are the most important factors.

There were no key new entrants in grocery retailers in 2012.

PROSPECTS

Grocery retailers in Pakistan is expected to decline by a constant value CAGR of 1% over the

forecast period. The main reason for the negative growth is the high level of inflation that

leaves the otherwise impressive current value growth to be insignificant in comparison.

Modern grocery retailers is predicted to grow by a constant value CAGR of 4%, while

traditional grocery retailers is estimated to shrink by a constant value CAGR of 1% over the

forecast period. As urbanisation in Pakistan is likely to continue, modern grocery retailers will

continue to enjoy high growth.

Other grocery retailers will continue to grow and will remain dominant in retail ing in Pakistan,

particularly in small towns and rural areas. However, due to the rise of modern retailing and

increasing urbanisation, this channel is expected to decline by a constant value CAGR of 2%.

Hypermarkets is projected to be the fastest growing retailing channel in constant value terms,

with a CAGR of 14%. This is due to several factors. Hypermarkets attracts consumers by

offering a wide range of products including non-grocery merchandise. Product variety and

convenience are important draws for customers. Secondly, the rapid pace of urbanisation in

Pakistan is driving the expansion of hypermarkets such as Carrefour and the Metro Groups


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Real chain. Many of these new outlets are located in out-of-town sites or as the anchor stores

in new shopping centres.

Convenience is expected to gain currency in grocery retailers in Pakistan as modern retailing

outlets become more prevalent. Some customers may switch from independent small grocers

to modern retailing channels for the various benefits on offer such as higher quality products,transparent pricing, and reliable customer service and extended opening hours.

Riding on the wave of the growing popularity of modern grocery retailers, both convenience

stores and forecourt retailers will enjoy steady growth. Furthermore, this growth is expected to

be faster than the growth expected in independent small grocers.

The growth of small grocery retailers formats is expected to be slower than that of

hypermarkets and supermarkets.

Food/drink/tobacco specialists is expected to post strong growth, increasing by a constant

value CAGR of 4%. In particular, chained food specialists such as Gourmet Foods and

Shezan Confectionaries are likely to open more outlets in Pakistans cities in order to cater to

the growing demand coming from the increasing population. As consumers in Pakistans cities

acquire more sophisticated tastes and become more affluent, demand for fresh bread andconfectionery is also expected to grow.

Other grocery retailers is expected to experience a fall in sales, declining at a constant value

CAGR of 2%. This is despite the stellar performance of Utility Store, as kiosks, market stalls

and street vendors, which comprise the bulk of other grocery retailers, are likely to lose sales

to modern grocery retailers, which offers a larger variety of fresher products.

Internet retailing will continue to remain negligible through to 2017.

CHANNEL FORMATS

Chart 1 Modern Grocery Retailers: Shell Select in Islamabad


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Source: Euromonitor International

Chart 2 Modern Grocery Retailers: A Tuk Shop Attock Petroleum in Islamabad


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Chart 3 Modern Grocery Retailers: Esajee in Islamabad


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Chart 4 Traditional Grocery Retailers: Shams in Islamabad


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Chart 5 Traditional Grocery Retailers: Gourmet in Lahore


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Chart 6 Traditional Grocery Retailers: United Bakery in Islamabad


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Chart 7 Traditional Grocery Retailers: Fruit and vegetable stall in Islamabad


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CHANNEL DATA

Table 1 Sales in Grocery Retailers by Channel: Value 2007-2012

PKR billion, retail value rsp excl sales tax

2007 2008 2009 2010 2011 2012

Modern Grocery Retailers 54.1 68.0 86.0 103.8 124.0 146.5- Convenience Stores 24.4 32.3 42.3 52.8 64.4 76.1- Discounters - - - - - -- Forecourt Retailers 6.8 7.8 8.7 9.4 10.8 12.4-- Chained Forecourt 6.8 7.8 8.7 9.4 10.8 12.4

Retailers-- Independent - - - - - -

Forecourt Retailers

- Hypermarkets - - 2.0 3.0 4.0 7.0- Supermarkets 22.9 27.9 32.9 38.5 44.8 51.0Traditional Grocery 1,256.4 1,328.8 1,388.5 1,443.2 1,634.1 1,797.3

Retailers- Food/Drink/Tobacco 14.5 18.6 25.4 31.7 38.0 43.9

Specialists- Independent Small 139.8 165.3 191.1 210.3 238.6 269.4

Grocers- Other Grocery Retailers 1,102.1 1,145.0 1,172.0 1,201.3 1,357.4 1,484.0Grocery Retailers 1,310.5 1,396.8 1,474.4 1,547.1 1,758.1 1,943.8

Source: Euromonitor International from official statistics, trade associations, trade press, company research,trade interviews, trade sources


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Table 2 Grocery Retailers Outlets by Channel: Units 2007-2012

outlets2007 2008 2009 2010 2011 2012

Modern Grocery Retailers 4,012 4,316 4,558 4,766 4,883 5,003- Convenience Stores 3,568 3,865 4,102 4,302 4,410 4,520- Discounters - - - - - -- Forecourt Retailers 309 313 316 321 325 330-- Chained Forecourt 309 313 316 321 325 330


Forecourt Retailers- Hypermarkets - - 1 1 2 2- Supermarkets 135 138 139 142 146 151Traditional Grocery 435,227 442,684 450,613 456,940 462,232 464,317

Retailers

- Food/Drink/Tobacco 20,586 20,896 20,954 21,064 21,169 21,264Specialists

- Independent Small 370,214 375,142 380,214 383,214 384,714 386,014Grocers

- Other Grocery Retailers 44,427 46,646 49,445 52,662 56,349 57,039Grocery Retailers 439,239 447,000 455,171 461,706 467,115 469,320


Table 3 Sales in Grocery Retailers by Channel: % Value Growth 2007-2012

% current value growth, retail value rsp excl sales tax

2011/12 2007-12 CAGR 2007/12 Total

Modern Grocery Retailers 18.1 22.0 170.7- Convenience Stores 18.3 25.5 211.6- Discounters - - -- Forecourt Retailers 14.3 12.7 82.0-- Chained Forecourt Retailers 14.3 12.7 82.0-- Independent Forecourt Retailers - - -- Hypermarkets 75.0 - -- Supermarkets 13.8 17.4 122.7Traditional Grocery Retailers 10.0 7.4 43.1- Food/Drink/Tobacco Specialists 15.5 24.8 203.0- Independent Small Grocers 12.9 14.0 92.7- Other Grocery Retailers 9.3 6.1 34.7

Grocery Retailers 10.6 8.2 48.3


Table 4 Grocery Retailers Outlets by Channel: % Unit Growth 2007-2012

% unit growth2011/12 2007-12 CAGR 2007/12 Total

Modern Grocery Retailers 2.5 4.5 24.7


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- Convenience Stores 2.5 4.8 26.7- Discounters - - -- Forecourt Retailers 1.5 1.3 6.8-- Chained Forecourt Retailers 1.5 1.3 6.8-- Independent Forecourt Retailers - - -

- Hypermarkets 0.0 - -- Supermarkets 3.4 2.3 11.9Traditional Grocery Retailers 0.5 1.3 6.7- Food/Drink/Tobacco Specialists 0.4 0.7 3.3- Independent Small Grocers 0.3 0.8 4.3- Other Grocery Retailers 1.2 5.1 28.4Grocery Retailers 0.5 1.3 6.8


Table 5 Grocery Retailers Company Shares: % Value 2008-2012

% retail value rsp excl sales taxCompany 2008 2009 2010 2011 2012

Utility Store Corp of 3.4 3.5 3.6 3.4 3.5Pakistan

Carrefour MAF - 0.1 0.2 0.2 0.4Hypermarkets Pakistan(Pvt) Ltd

PSO Outlets Ltd 0.3 0.3 0.3 0.3 0.3Shell Pakistan Ltd 0.2 0.2 0.2 0.2 0.2Chevron Pakistan Ltd 0.1 0.1 0.1 0.1 0.1Others 96.1 95.8 95.7 95.8 95.5Total 100.0 100.0 100.0 100.0 100.0


Table 6 Grocery Retailers Brand Shares: % Value 2009-2012

% retail value rsp excl sales taxBrand Company 2009 2010 2011 2012

Utility Store Utility Store Corp of 3.5 3.6 3.4 3.5Pakistan

Hyperstar Carrefour MAF 0.1 0.2 0.2 0.4Hypermarkets Pakistan(Pvt) Ltd

PSO Outlets PSO Outlets Ltd 0.3 0.3 0.3 0.3Shell Shell Pakistan Ltd 0.2 0.2 0.2 0.2Caltex Chevron Pakistan Ltd 0.1 0.1 0.1 0.1Others 95.8 95.7 95.8 95.5Total 100.0 100.0 100.0 100.0


Table 7 Grocery Retailers Brand Shares: Outlets 2009-2012

sites/outletsBrand Company 2009 2010 2011 2012


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Utility Store Utility Store Corp of 5,550 5,650 5,700 6,012Pakistan

PSO Outlets PSO Outlets Ltd 177 179 182 185Shell Shell Pakistan Ltd 67 68 68 70

Caltex Chevron Pakistan Ltd 33 32 31 32Hyperstar Carrefour MAF 1 1 2 2

Hypermarkets Pakistan(Pvt) Ltd

Others 449,343 455,776 461,132 463,019Total 455,171 461,706 467,115 469,320


Table 8 Grocery Retailers Brand Shares: Selling Space 2009-2012

surface area '000 sq mBrand Company 2009 2010 2011 2012

Utility Store Utility Store Corp of 2,100.0 2,140.0 2,160.0 2,268.0Pakistan

PSO Outlets PSO Outlets Ltd 30.3 30.5 31.0 31.5Hyperstar Carrefour MAF 9.0 9.0 18.0 18.0

Hypermarkets Pakistan(Pvt) Ltd

Shell Shell Pakistan Ltd 13.5 13.8 13.8 14.0Caltex Chevron Pakistan Ltd 4.7 4.5 4.4 4.5Others 40,027.6 41,986.9 44,110.0 44,964.5Total 42,185.1 44,184.7 46,337.2 47,300.5


Table 9 Forecast Sales in Grocery Retailers by Channel: Value 2012-2017

PKR billion, retail value rsp excl sales tax

2012 2013 2014 2015 2016 2017

Modern Grocery Retailers 146.5 147.2 153.3 160.6 168.9 175.9- Convenience Stores 76.1 77.6 79.7 82.0 84.8 87.3- Discounters - - - - - -- Forecourt Retailers 12.4 12.8 13.3 13.9 14.4 13.9-- Chained Forecourt 12.4 12.8 13.3 13.9 14.4 13.9


Forecourt Retailers- Hypermarkets 7.0 4.9 6.8 9.1 11.6 13.6- Supermarkets 51.0 51.8 53.4 55.5 58.1 61.0Traditional Grocery 1,797.3 1,750.2 1,721.8 1,701.5 1,695.7 1,691.1

Retailers- Food/Drink/Tobacco 43.9 44.9 46.3 48.0 50.3 52.7

Specialists- Independent Small 269.4 267.7 268.3 267.7 270.3 273.5

Grocers- Other Grocery Retailers 1,484.0 1,437.6 1,407.2 1,385.7 1,375.2 1,364.9Grocery Retailers 1,943.8 1,897.4 1,875.1 1,862.0 1,864.6 1,867.0


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Source: Euromonitor International from trade associations, trade press, company research, trade interviews,trade sources

Table 10 Forecast Grocery Retailers Outlets by Channel: Units 2012-2017

outlets2012 2013 2014 2015 2016 2017

Modern Grocery Retailers 5,003 5,109 5,205 5,293 5,356 5,394- Convenience Stores 4,520 4,610 4,691 4,761 4,809 4,833- Discounters - - - - - -- Forecourt Retailers 330 339 346 355 361 365-- Chained Forecourt 330 339 346 355 361 365


Forecourt Retailers- Hypermarkets 2 3 4 5 6 7- Supermarkets 151 157 164 172 180 189

Traditional Grocery 464,317 465,933 467,602 469,315 470,856 472,133Retailers

- Food/Drink/Tobacco 21,264 21,349 21,445 21,531 21,639 21,736Specialists

- Independent Small 386,014 387,014 387,964 388,864 389,642 390,226Grocers

- Other Grocery Retailers 57,039 57,570 58,193 58,920 59,575 60,171Grocery Retailers 469,320 471,042 472,807 474,608 476,212 477,527


Table 11 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2012-2017

% current value growth, retail value rsp excl sales tax

2012-17 CAGR 2012/17 TOTAL

Modern Grocery Retailers 3.7 20.1- Convenience Stores 2.8 14.7- Discounters - -- Forecourt Retailers 2.4 12.5-- Chained Forecourt Retailers 2.4 12.5-- Independent Forecourt Retailers - -- Hypermarkets 14.3 94.9- Supermarkets 3.7 19.8Traditional Grocery Retailers -1.2 -5.9- Food/Drink/Tobacco Specialists 3.7 19.8

- Independent Small Grocers 0.3 1.5- Other Grocery Retailers -1.7 -8.0Grocery Retailers -0.8 -3.9


Table 12 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2012-2017

% unit growth2016/17 2012-17 CAGR 2012/17 Total


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Modern Grocery Retailers 0.7 1.5 7.8- Convenience Stores 0.5 1.3 6.9- Discounters - - -- Forecourt Retailers 1.1 2.0 10.6-- Chained Forecourt Retailers 1.1 2.0 10.6

-- Independent Forecourt Retailers - - -- Hypermarkets 16.7 28.5 250.0- Supermarkets 5.0 4.6 25.2Traditional Grocery Retailers 0.3 0.3 1.7- Food/Drink/Tobacco Specialists 0.4 0.4 2.2- Independent Small Grocers 0.1 0.2 1.1- Other Grocery Retailers 1.0 1.1 5.5Grocery Retailers 0.3 0.3 1.7


Grocery Retailers in Pakistan

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