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Description

Description

"While fuel sales generate as much as two thirds of total convenience stores revenue and remain a core traffic driver, c-store operators are increasingly turning their attention to in-store categories as the most direct path to increased sales and profits. Still, convenience stores face considerable challenges in categories like foodservice and packaged foods and beverages, where consumer preferences are changing and the competition is growing more intense."

– John Owen, Associate Director Food & Retail

This report examines the following issues:

  • Slow growth for in-store not enough to offset fluctuations in fuel revenue
  • C-stores attract more than three quarters of consumers
  • Frequent visits the norm

What's included

What's included

Table of contents

Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • Top takeaways
          • The issues
            • Slow growth for in-store not enough to offset fluctuations in fuel revenue
              • Figure 1: Total US convenience store revenues and forecast, by segment, at current prices, 2014-19
            • C-stores attract more than three quarters of consumers
              • Figure 2: Convenience store types visited, December 2019
            • Frequent visits the norm
              • Figure 3: Frequency of convenience store visits, December 2019
            • The opportunities
              • With frequent visitors an opportunity to get beyond gas and food
                • Figure 4: Reasons for visiting convenience stores, by convenience store visit frequency, December 2019
              • Beyond convenience: selection, service key to building visits and purchases
                • Figure 5: Reasons for choosing a convenience store over other channels, by age, December 2019
              • Young shoppers prefer convenience stores but want healthier choices
                • Figure 6: Attitudes toward convenience stores, by age, December 2019
            • The Market – What You Need to Know

              • Convenience store revenues fluctuate on swings in fuel prices
                • Slow growth for in-store not enough to offset fluctuations in fuel revenue
                  • Foodservice increases in share and importance
                    • Big grocers go small, creating fresh competition for c-stores
                    • Market Size and Forecast

                      • Convenience store revenues fluctuate on swings in fuel prices
                        • Mintel’s forecast and COVID-19
                          • Figure 7: Total US sales and fan chart forecast of convenience store revenues and forecast, at current prices, 2014-24
                          • Figure 8: Total US convenience store revenues and forecast, at current prices, 2014-24
                      • Market Breakdown

                        • Slow growth for in-store not enough to offset fluctuations in fuel revenue
                          • Figure 9: Total US convenience store revenues and forecast, by segment, at current prices, 2014-19
                        • Total tobacco products hold steady but may have a cloudy future
                          • Foodservice increases in share and importance
                            • Beverages remain a prime c-store draw amid changing tastes
                              • Figure 10: Distribution of convenience store in-store sales, by category, 2016 and 2018
                          • Market Perspective

                            • C-store foodservice sales growth slows as competition intensifies
                              • A move to more MTO
                                • Figure 11: Total US convenience store foodservice sales, at current prices, 2014-19
                              • Big grocers go small, creating fresh competition for c-stores
                              • Market Factors

                                • Fluctuating fuel prices drive swings in c-store revenue and profit
                                  • Figure 12: US gasoline and diesel retail prices, all grades annual average, 2009-19
                              • Key Players – What You Need to Know

                                • Reinventing convenience stores for a new generation of shoppers
                                  • Frictionless retail well-suited to c-stores
                                  • What’s Happening

                                    • Reinventing convenience stores for a new generation of shoppers
                                      • Foxtrot Market: integrating in-store and online
                                        • Choice Market: a focus on local
                                          • 7-Eleven leverages private label to strengthen in-store sales
                                          • What to Watch

                                            • Frictionless retail well-suited to c-stores
                                            • The Consumer – What You Need to Know

                                              • C-stores attract more than three quarters of consumers
                                                • Food, drinks and gasoline most common reasons for visiting c-stores
                                                  • A choice of convenience
                                                    • Gas prices and convenience drive c-store selection
                                                      • Better selection of food and beverages key to driving more c-store visits
                                                        • Young shoppers prefer convenience stores but seek improvements
                                                        • Convenience Store Visits

                                                          • C-stores attract more than three quarters of consumers
                                                            • Figure 13: Convenience store types visited, December 2019
                                                          • C-stores appeal to broad demographic, but young adults are key
                                                            • Figure 14: Convenience store types visited – NET Any c-store, by gender/age, household income, race/Hispanic origin, December 2019
                                                          • Frequent visits the norm, representing a potential platform for growth
                                                            • Figure 15: Frequency of convenience store visits, by gender/age, household income, race/Hispanic origin, December 2019
                                                        • Reasons for Visiting C-stores

                                                          • Food, beverages and gasoline drive c-store visits
                                                            • Figure 16: Reasons for visiting convenience stores, December 2019
                                                          • Young adults visit c-stores for a wider array of reasons
                                                            • Figure 17: Reasons for visiting convenience stores, by age, December 2019
                                                          • Frequent visitors look for more than gas and food
                                                            • Figure 18: Reasons for visiting convenience stores, by convenience store visit frequency, December 2019
                                                        • Reasons for Choosing a C-store over Other Channels

                                                          • A choice of convenience
                                                            • Figure 19: Reasons for choosing a convenience store over other channels, December 2019
                                                          • Beyond convenience: selection, service key to building visits and purchases
                                                            • Figure 20: Reasons for choosing a convenience store over other channels, by age, December 2019
                                                        • Convenience Store Selection Factors

                                                          • Gas prices and convenience drive c-store selection
                                                            • Figure 21: Convenience store selection factors, December 2019
                                                          • Food and beverages are key to c-store loyalty
                                                            • Figure 22: Convenience store selection factors – top three, by convenience store visit frequency, December 2019
                                                        • Desired Improvements in C-stores

                                                          • Improvements in food and beverages key to driving more c-store visits
                                                            • Figure 23: Desired improvements in convenience stores, December 2019
                                                          • Younger shoppers more open to enhancement in food and convenience
                                                            • Figure 24: Desired improvements in convenience stores, by age, December 2019
                                                          • Frequent visitors want more food choice; non-visitors focus on health
                                                            • Figure 25: Desired improvements in convenience stores, by convenience store visit frequency, December 2019
                                                        • Attitudes toward Convenience Stores

                                                          • Improving perceptions but still a narrow view
                                                            • Figure 26: Attitudes toward convenience stores, December 2019
                                                          • Young shoppers prefer convenience stores but want healthier choices
                                                            • Figure 27: Attitudes toward convenience stores, by age, December 2019
                                                          • Younger shoppers more engaged in c-stores
                                                            • Figure 28: Convenience store shopping behaviors, by age, December 2019
                                                        • Appendix – Data Sources and Abbreviations

                                                          • Data sources
                                                            • Sales data
                                                              • Fan chart forecast
                                                                • Consumer survey data
                                                                  • Abbreviations and terms
                                                                    • Abbreviations
                                                                      • Terms
                                                                      • Appendix – The Market

                                                                          • Figure 29: Total US convenience store revenues and forecast, at inflation-adjusted prices, 2014-24

                                                                      About the report

                                                                      This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:

                                                                      • The Consumer

                                                                        What They Want. Why They Want It.

                                                                      • The Competitors

                                                                        Who’s Winning. How To Stay Ahead.

                                                                      • The Market

                                                                        Size, Segments, Shares And Forecasts: How It All Adds Up.

                                                                      • The Innovations

                                                                        New Ideas. New Products. New Potential.

                                                                      • The Opportunities

                                                                        Where The White Space Is. How To Make It Yours.

                                                                      • The Trends

                                                                        What’s Shaping Demand – Today And Tomorrow.

                                                                      Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted.

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