Consumers Beginning To Warm To Modern Convenience Retailing

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According to a survey conducted by convenience retailer SouqExtra!, 40% of UAE consumers would rather buy their supplies from convenience outlets than from traditionally favoured hypermarkets. A joint venture with premium supermarket operator Spinneys, SouqExtra! is set to launch up to 10 new community-based neighbourhood stores in the country over the next two years. BMI sees considerable promise in the underdeveloped modern convenience store segment. Through to 2013, we have forecast store sales to increase by 87% and reach AED0.43bn, though the segment is growing from a particularly low base. We estimate that convenience store sales accounted for just