The country will see the first convenient store by the New Year 2069.
"Arun Intercontinental Traders — that deal with automobiles — under Chaudhary Group (CG) is opening CG Mart from Nepali New year to provide distinct products and services that meet the needs in both retailing and distributing of consumer goods," said managing director of the CG Arun Chaudhary.
Though, three years down the line, the country will have around 300 to 400 CG Mart — a 7/11 concept store — in the first phase Minbhawan, Babarmahal and Thamel will have such stores, he said, adding that the stores will sell a wide range of imported goods, where as minimarts and provision shops sell local products with a limited range of products.
Catching up with a new trend, the expansion of CG Mart outlets will have characteristics like promotion of franchising model, selling a wider range of food and services through trained employees, and promoting the brand, Chaudhary added. "The stores will be located on the main road leading to one of two public areas and other transportation hubs."
CG Mart will be a start-up convenience food and non food shop operation. "CG Mart caters to the shopping needs of consumers, who work irregular working hours," he said. "In addition, convenience stores, to some extent will replace the old-fashioned general store with long hour opening policy that allows convenience stores to reach out to larger group consumers due to the relatively small size store."
The potential of convenience store market in Kathmandu is great due to rapidly growing population. "We believe warm growth of the market as a result of the sustained growth in remittance and per capita income will possibly recover in economy of Nepal," he said.