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In the last decade or so, there has been a dramatic expansion of small retail convenience stores (such as 7-Eleven, Kwik Shop, and Circle K), although their prices are generally much higher than prices in large supermarkets. The success of these convenience stores can be partially explained by
1. cost savings due to their smaller size.
2. the time consumers save when purchasing goods there.
3. diseconomies of scale.
4. the high prices they charge.

Respuesta :

jepessoa

Answer:

2) the time consumers save when purchasing goods there.

Explanation:

Their name explains everything. A convenience store is a store where someone can go and purchase goods easily and without any type of difficulty.

Of course a Walmart is cheaper, but will you travel 20 minutes just to get there, and spend 20 more minutes choosing and paying for a cheap good like a Coke, and then 20 more minutes back home. Whatever you save on buying the Coke, you will spend 50 times more in gas and personal time.

So even if a Coke costs $1 more in a 7-Eleven, it is worth it. You will save a lot of money by purchasing your Coke there.

Parrain

The reason why these convenience stores have been successful is as a result of 2. the time consumers save when purchasing goods there.

Why have these small retail stores become successful?

As a result of them being small retail stores, they are available in several locations and are very accessible to people.

As a result of this accessibility, people save time when they go to these stores and they are willing to pay a higher price for this.

Find out more on the successful business principles at https://brainly.com/question/2892259.

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