The success of convenience stores indicates that consumers are willing to pay higher prices for location, ease of shopping, and convenient store hours.

Question

Quizplus · Accepted Answer

Convenience stores have become popular among consumers because they offer the convenience of being located close to their homes, offices, or other frequented places. Consumers are willing to pay slightly higher prices for the added convenience these stores provide, such as extended hours of operation and easy and quick shopping experiences. Therefore, the success of convenience stores is indicative of the consumers' willingness to pay more for convenience.

The Success of Convenience Stores Indicates That Consumers Are Willing