H Mart is the newest Asian food market to open their doors in Edmonton, Alberta. They reportedly had grocery lines of customers waiting outside before opening time and well after opening time there were still many customers lining up.
Many shoppers enjoy an authentic and unique shopping experience. It brings value to the product offer and motivates consumers to go out and shop.
H Mart opening day reveals the demand in the niche. Consumers enjoy the authentic and unique shopping experience. The chance to purchase spices and foods that is unique to Asian cuisine close to home was the driver of the demand. This is good news for retailers who see opportunities in the niche. Lets explore what H Mart did right.
The location: South Edmonton
South Edmonton has a growing Asian population who prefer to shop close to home. H Mart fulfilled this need by opening their doors close to the homes of their target market.
H Mart food and product offering is considered a great addition to the commercial area of the South Park Centre on Calgary Trail. On opening day, H Mart had 100’s of customers still waiting outside and they even wrapped around the building, well after opening time. There is strong demand in authentic Asian cuisine.
The niche: Korean grocery food
Many of us have heard there is money in the niches, and opening an Asian grocery store in Canada is no exception. Market trends are important for retailers and retail investors to understand. Having the right product offer for a growing niche market is the retailers’ dream. Get it right and the future can be bright.
H Mart took a retail space where Whole Foods was scheduled to occupy. Whole Foods have about 13 Canadian locations while having about 400 in the US. Since opening in 1982, H Mart now operates 42 stores in North America with roughly 14 locations throughout Canada.
The niche H Mart is serving will continue to help them grow, as long as their customers continue to see their food products as authentic.
The solution: Fresh food
Canadians are experiencing a price rise not only in fresh food, but also in rent, auto insurance and borrowing costs. When it comes to fresh food options, H Mart may offer the solution for those who enjoy exotic fresh fruits and spices.
H Mart shoppers reportedly jokes about their supersized, tropical fruit offerings they can find at their stores. H Mart selection of fresh food options is a bit more exotic then a traditional Canadian grocery store. There you can find tropical fruit, such as jackfruit, papaya, dragon fruit, melons, Asian pears and Korean Concord grapes. Thus for a broader selection of fresh fruits, spices and authentic Asian food many chose to wait in line to have a chance to enjoy the experience.
H Mart opening demonstrates that consumers enjoy a cultural shopping experience from retailers they trust. H Mart customers see value and authenticity in their products, and they’re willing to wait in line just like consumers that wait for an electronic product release or for tickets to an event.
There is money in the niches. For those who are seeking to invest contact ReDev today.