Case Study Read the following case and answer all the questions that follow. Game changers of the convenience store industry New bcsi and fornign convenience stores continuo to mushroom across the nation, reflecting dynamic shifts in consumption trends, notwithstanding the economic impact of the Covid-19 pandemic. The rapid expansion of conwenience stores such as 7. Eleven, MyNews, FamilyMart and CU over the last decade, and most recersly emart24 - Sough Korea's third lacgest player which debuted in Bangsar, Kuala Lumpur, last June during the pandemic - may well be attributed to their novelty offerings and ease of accessibility. Convenience stores, along with mini-markats. provision shops and wet markets are, atter all. among the essential trades which have been allowed to operate theoughout the pandemic. A glance at the latest chain to jump on the convenience store bandwagon, South Korea's swanky emart24, is telling of what appeals to consumers of today. The outlets are technoiogy-enabled and feature striking interior design as well as an array of imported goods from is country of origin. Street food such as bulgogi chicken cupbap. K-spice cupdak (finger food), clsypot ramyun and snow bingsu make for a quick and attractive pick-up, which Malaysians are famillar with thanks to the popularily of South Korean entertainment. There are currently 17 emart24 outlots in Peninsular Malaysia, with its operators planning for up to 50 -otdlets by year end, and a total of 300 outhets in five years. Shinsegae camies brands such as private label No Brand, which is sold at local emart24 outlets. Karin Associates and UFH believe their association with the group will lend credence to branding and provide accessibity to launch Shinsegae's other brands in Malaysia. Retail analysts and consultants observe that ready-to-eat selections at convenience stores have created a new avenue of growth. contributing signilicantly to store sales. In the past, outiots had typically relled heavily on the sales of tobacco and other dry ilems. -Overseas, it's common to grab a box of lunch from a convenience store to eat at the desk on a busy day. The grab-and-go trend has taken oft here, thanks to FamilyMarts example when it debuted in Maleysia in 2016 and shook up the industry. Local consumers have s nce been receptwe to buying fresh meals from comvenience stores as opposed to waiting in line for takeaways from restaurants in the city or highly populated areas," says an analyst with a bankbacked research house. Chris Eny Pooh Yoon. chief strategy officer of Etiqa. Maybank's insurance and takaful arm. notes that the growth of corvenience stores is happening amid a downsizing of retail formats. With hypermarkets declining in attractiveness globally over the last decade, retallars have progressively downsized shopping formats to smaller stores and marts to appeal to patrons Who value convenience and time saving. In the 1990 s to mid-2000s, large-format stores were. popular as they offered the comvenience of shopping for numerous household itams at discounted prices. Howover, the attruction has waned with the rise of niche otlerings at smallor outlets, available in commerclal centres and residential areas, and at competitive grices. In addition, Eng notes that affluent patrons favour shopping at upmarket stores. While the offerings of grocers and convenience stores vary vastly, their popularity refiects the sustained. dowmward shift to small-format stores, a trend which he bellewes is here to stay. High-end grocery and convenience franchise chains debuted in the Klang Valley, followed by secondtier cities such as Penang and Johor Baru, he adds. - Most convenience store operators intended to open in shopping malls but atter Covid-19 hit. many mallbased convenience stails were shuttered, leaving players to focus on standalone units instead for better flexbility. Eng recalls. "The success of every small-format stores' business model hinges on their focus and product mix. One playsr entered the market with a smorgasbord of everyday goods, but it has not taken off, observes a bank-backed research house analyst who does not want to be named. In spite of the increasing competition from new foreign arrivals with exciting value propositions, cxisting pleyers continue to be optimistic about the growth of their brands. Adapted Sources: Poo. C. (2022). Game changers of the canwenionce storo industry. The Edge. Question 2: Differentiate the operations management of a convenient store from a hyper market