2022
9
US Convenience Stores Market Report 2022
2022-06-11T04:05:48+01:00
OX1101763
3695
152066
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Report
en_GB
“Convenience stores are an essential part of many consumers’ shopping journeys and will see an increase in traffic as some consumers with pent-up demand take to the roads in Summer…

US Convenience Stores Market Report 2022

£ 3,695 (Excl.Tax)

Report Summary

“Convenience stores are an essential part of many consumers’ shopping journeys and will see an increase in traffic as some consumers with pent-up demand take to the roads in Summer 2022. Convenience stores will be a functional purchase for shoppers, but there is opportunity to infuse fun into the purchase process with exclusive products and experiences. In the near future, convenience stores will need to evolve to meet the needs of EV owners and become a destination to stay for awhile.”

– Katie Hansen, Senior Retail & eCommerce Analyst

This Report looks at the following areas

  • What types of convenience stores consumers shop
  • Frequency of convenience store visits
  • Occasions and motivations to shop at convenience stores  
  • Attitudes toward shopping at convenience stores

Table of Contents

  1. Overview

    • What you need to know
      • This Report looks at the following areas
        • Definition
          • Market context
          • Executive Summary

              • Top takeaways
                • Market overview
                  • Figure 1: Total US sales and fan chart forecast of in-store convenience store sales, at current prices, 2016-26
                  • Figure 2: Convenience stores outlook, 2022-27
                • Opportunities and challenges
                  • Inflation, gas prices could make consumers think twice about nonessential purchases
                    • Experiences, exclusivity are areas of opportunity to drive interest in convenience stores
                      • Tap into the focus on holistic health
                        • Evolving EV expectations will impact the convenience store landscape
                          • Key consumer insights
                          • Market Size and Forecast

                            • In-store sales will see steady growth after peak in 2021
                                • Figure 3: Total US sales and fan chart forecast of in-store convenience store sales, at current prices, 2016-26
                                • Figure 4: Total US convenience store in-store sales, at current prices, 2017-27
                            • Segment Performance

                              • Tobacco sales remain flat with a lingering murky future
                                • Indulgences remain an opportunity for convenience stores
                                  • Pandemic leaves lasting impact on foodservice at convenience stores
                                    • Figure 5: Distribution of convenience store in-store sales, by category, 2018 and 2020
                                • Market Factors

                                  • Economic uncertainty leaves consumers with less in their wallets
                                    • Inflation eats into discretionary spending
                                      • Figure 6: Disposable personal income change from previous period, 2010-22
                                      • Figure 7: Consumer Price Index change from previous period, 2007-22
                                    • Rising gas prices are a conundrum for consumers and c-stores
                                      • Figure 8: US gasoline and diesel retail prices, 2010-22
                                    • Younger, multicultural consumer population grows; convenience stores should benefit
                                      • Figure 9: Population by generation, 2016-26
                                      • Figure 10: Generations, by race, 2021
                                      • Figure 11: Generations, by Hispanic origin, 2021
                                    • Technology upgrades can deliver greater convenience, engagement with consumers
                                      • Increased interest in electric vehicles will reshape the convenience store experience
                                      • Competitive Strategies and Market Opportunities

                                        • Convenience stores tap into playfulness
                                          • Figure 12: 7-Eleven creates custom branded car for sweepstakes, 2022
                                        • Upscale the convenience store
                                          • Figure 13: Foxtrot elevates its coffee offerings, 2022
                                        • Convenience stores can be a partner in EV growth and adoption
                                          • Lean into the summer travel boom
                                            • Exclusivity can pique consumer interest
                                              • Figure 14: Circle K shows off exclusive partnership with Mountain Dew, 2022
                                          • The Convenience Store Consumer – Fast Facts

                                            • Convenience Stores Shopped

                                              • Retailers can tap into resuming travel habits
                                                • Figure 15: Speedway helps consumers save at the pump with in-store purchases, 2022
                                                • Figure 16: Convenience stores shopped, 2022
                                              • Younger consumers are on the move and looking for partners along the way
                                                • Figure 17: Convenience stores shopped, by gender and age, 2022
                                              • Convenience stores are critical to multicultural communities
                                                • Figure 18: Convenience stores shopped, by race and Hispanic ethnicity, 2022
                                            • Convenience Store Shopping Frequency

                                              • C-stores are an essential part of consumers’ shopping routines
                                                • Figure 19: Convenience store shopping frequency, 2022
                                              • Target frequent younger consumer visitors with added convenience and fun
                                                • Figure 20: 7-Eleven focuses on younger males in Facebook advertising campaign, 2022
                                                • Figure 21: Convenience store shopping frequency, by gender and age, 2022
                                              • Multicultural communities see convenience stores as a necessary resource
                                                • Figure 22: Convenience store shopping frequency, by race and Hispanic ethnicity, 2022
                                            • Occasions to Shop Convenience Stores

                                              • Consumers use convenience stores to satisfy their immediate cravings, needs
                                                • Figure 23: Convenience store trip type, 2022
                                              • Tap into varying trip types by lifestage
                                                • Figure 24: Convenience stores trip type, by gender and age, 2022
                                              • Affluent consumers seek out c-stores during travel; lower income for everyday items
                                                • Figure 25: Convenience stores trip type, by household income, 2022
                                              • Turn functional stops into fun purchases
                                                • Figure 26: Occasions for visiting a convenience store, 2022
                                              • Each generation seeks out convenience stores for their specific needs
                                                • Figure 27: Occasions for visiting a convenience store, by generation, 2022
                                            • Motivations to Shop Convenience Stores

                                              • Convenience, lucrative reward programs keep consumers coming back
                                                • Figure 28: Reasons to stop at convenience stores, 2022
                                              • Better product offerings, services will connect with younger consumers
                                                • Figure 29: Reasons to stop at convenience stores, by gender and age, 2022
                                              • Convenience stores have plenty of options to improve their customer experience
                                                • Figure 30: Love’s highlights salad in its Instagram post, 2022
                                                • Figure 31: Motivations to shop convenience stores, 2022
                                              • Women seek more control over their convenience store visit
                                                • Figure 32: Motivations to shop convenience stores, by gender, 2022
                                              • Tech improvements will garner shopping interest from younger generations
                                                • Figure 33: Circle K encourages rewards sign up via text messaging, 2022
                                                • Figure 34: Motivations to shop convenience stores, by generation, 2022
                                            • Behaviors at Convenience Stores

                                              • Consumers are visiting c-stores but delivery, loyalty remain low
                                                  • Figure 35: Behaviors at convenience stores, by generation, 2022
                                                • Parents partake in convenience stores’ propositions
                                                  • Figure 36: Behaviors at convenience stores, by parental status, 2022
                                              • Attitudes toward Convenience Stores

                                                • Consumers see convenience stores as a functional stop rather than emotional
                                                  • Figure 37: Attitudes toward convenience stores – Shopping experiences, 2022
                                                • Fresher foods would motivate consumers to shop with convenience stores
                                                  • Figure 38: Attitudes toward convenience stores – Food options, 2022
                                                • Convenience stores can look for partnerships, clearer labels for food items to connect with each generation
                                                  • Figure 39: Attitudes toward convenience stores – Food options, by generation, 2022
                                                • Convenience stores’ private label items put up a fight against big name brands
                                                  • Figure 40: Attitudes toward convenience stores – Packaged drinks and snacks, 2022
                                                • Focus on affordability, expanded reward options
                                                  • Figure 41: Attitudes toward convenience stores – Value, 2022
                                                • Providing flexibility to Millennials, Gen X
                                                  • Figure 42: Attitudes toward convenience stores – Value, by generation, 2022
                                              • Convenience Store Loyalty Memberships

                                                • Allow consumers to earn quickly, use simply to drive reward membership signups
                                                  • Figure 43: Loyalty program participation, 2022
                                                • Loyalty programs should enhance convenience for all consumer groups
                                                  • Figure 44: Loyalty program participation, by key demos, 2022
                                              • Appendix – Data Sources and Abbreviations

                                                • Data sources
                                                  • Sales data
                                                    • Forecast
                                                      • Consumer survey data
                                                        • Abbreviations and terms
                                                          • Abbreviations
                                                          • Appendix – The Market

                                                              • Figure 45: Total US convenience store in-store revenues and forecast, at inflation-adjusted prices, 2017-27

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