Japanese-themed Hong Kong department store and supermarket chain Yata is set to unveil its first-ever convenience store format in Hong Kong.
Dubbed the ‘Konbin by Yata’’ (also Japanese for convenience store), the new format will be smaller than its usual department store standing at 3777sqft.
Located within Sha Tin’s Hotel Sav, the store will be styled on a ‘quick’ shop, a cook-and-eat concept with an array of Japanese merchandise, self-checkouts, and instant dining spaces for the time-pressed Hongkongers.
Yata has also formed an exclusive arrangement with Hokkaido convenience store Seicomart to stock more than 70 SKUs of its private-label range.
Yata’s parent group (historically known as Seiyu Department Store until 2008), is known to have invested US$774,000 into the new concept.
Yata has reported strong performance in recent times with its sales up 16 percent year on year. Its grocery arm has experienced a 39-per-cent surge during the Covid-19 crisis.
With restaurant bans and the third wave of coronavirus infection keeping consumers at home, there has been a natural surge and uplift in grocery sales from cooking at home.
Yata CEO Susanna Wong believes the convenience store will break new even in three years and is predicting an average basket spend of between $6-10.