Smaller stores cutting into supermarket sales

PANAMANIAN shoppers are increasingly turning to corner stores or mini-supermarkets for food and drinks, according to a recent study of consumer spending.

The smaller outfits offer advantages like being closer to home, and sometimes extending credit up to 15 days. Large chain retailers claim that these stores engage in unfair practices, such as not complying with price controls and failing to follow tax regulations.

Some $6 billion was spent in chain supermarkets, mini-supermarkets and drugstores on food and beverage in 2015, according to the survey.

The market barometer shows that last year there were approximately 266 supermarkets and 862 drugstores in the country while there were 11,770 mini-supermarkets.

Consumers spent $3.4 billion at the smaller stories, which represents 56.2 percent of the total market.