Report Summary
Convenience stores are a staple retailer for consumers as over 80% have shopped at one in the last 12 months. Whether visiting daily, weekly or on occasion, convenience stores provide consumers with quick options for fuel, food and beverages; for some, convenience stores are stops for everyday essentials, making them vital in serving different communities.
One of the biggest impacts to the c-store landscape will be the ongoing adoption of electric vehicles. Fuel is still a primary driver to c-stores and with the increasing number of EVs on the road, convenience stores will need to rethink their offerings. Not only in terms of adding charging stations, but also thinking about how to elevate the store experience for consumers who will need to spend a little more time at the store while waiting for their vehicle to charge.
This leads to one of the biggest opportunities for c-stores: enhancing the in-store experience. Healthier food choices, lounge areas, Wi-Fi access and better customer service are all areas to explore. Consumers continue to look for more from retailers, and c-stores are no exception.
Convenience stores’ pricing does continue to be a barrier for consumers. While the items offered aren’t themselves expensive, cost-per-unit is higher than at other retailers, posing a threat to c-stores in-store sales.
This report looks at the following areas:
- Economic factors impacting convenience stores
- Convenience store shopping frequency and time of day shopped
- Occasions and motivations to shop at convenience stores
- Reasons to shop at other retailers besides convenience stores
- Convenience stores loyalty programs
- Attitudes toward convenience stores
Convenience stores continue to evolve as consumer demand shifts. The need for EV charging and elevated products/services will be at the heart of this evolution.
Katie Hansen, Senior Analyst – Retail & eCommerce
Market Definitions
For the purposes of this report, Mintel defines convenience stores as establishments that retail a limited line of goods, primarily groceries and ready-to-consume beverages and snacks, in easily accessible locations. The majority of convenience stores also sell motor fuel.
According to the NACS, common characteristics of convenience stores include:
• Building size of less than 5,000 square feet
• Stock of at least 500 SKUs
• Off-street parking and/or convenient pedestrian access
• Extended hours of operation with many open 24 hours a day, seven days a week
Table of Contents
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Executive Summary
- What you need to know
- Consumer trends: key takeaways
- Market size & forecast
- Market predictions
- Opportunities
-
Market Dynamics
- Market context
- Market drivers
- Consumers remain cautious about spending in what still feels like a tough economic environment
- Annual inflation sits at 2.9% as of July, the lowest it has been since March 2021
- Graph 1: headline CPI and shelter CPI, 2021-24
- Consumer sentiment remains down, but is expected to rebound soon
- Graph 2: consumer sentiment index, 2022-24
- Electric vehicles will change the convenience store experience
- Boutique convenience stores face challenging times, leaving some areas without convenient c-store locations
- Market size and forecast
- Convenience stores should expect to see slow growth ahead
- Retail sales and forecast of in-store convenience store sales
- Market segmentation
- Foodservice is becoming of greater importance to convenience stores
- Retail sales of convenience stores, by segment
- Graph 3: distribution of convenience store sales, by category, 2022 and 2023
- Retail sales of convenience stores, by segment
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Consumer Insights
- Consumer fast facts
- Consumer fast facts (cont.)
- Convenience stores shopped
- Convenience stores are a staple in consumers' shopping trips
- Graph 4: types of convenience stores shopped in last 12 months, 2024
- Consumers across demographics lean on convenience stores in different ways
- Men rely on a variety of convenience store types…
- Graph 5: types of convenience stores shopped in the last 12 months, by gender, 2024
- …as do multicultural consumers
- Graph 6: types of convenience stores shopped in the last 12 months, by race and Hispanic ethnicity, 2024
- Stand alone convenience stores have an opportunity to win with younger consumers
- Graph 7: types of convenience stores shopped in the last 12 months, by generation, 2024
- Shopping frequency and time of day
- Weekly, afternoon visitors are c-stores main customers
- Graph 8: time of day to visit a convenience store, 2024
- Graph 9: convenience store shopping frequency, 2024
- Young men are the most frequent c-store visitors
- Graph 10: convenience store shopping frequency, by gender and generation, 2024
- Black and Hispanic consumers heavily rely on convenience stores throughout the week
- Graph 11: convenience store shopping frequency, by race and Hispanic ethnicity, 2024
- How can convenience stores assist multicultural consumers?
- Convenience stores should look to pick-me-up options to meet consumer interest in afternoon visits
- Graph 12: time of day to visit a convenience store, by race and Hispanic ethnicity, 2024
- Graph 13: time of day to visit a convenience store, by gender and generation, 2024
- C-stores have opportunity to cater to work-from-home consumers
- Graph 14: time of day to visit a convenience store, by work from home status, 2024
- Occasions to shop convenience stores
- Convenience stores can continue to tap into fun cravings and immediate needs
- Gen Z men seek convenience stores for myriad of reasons
- Graph 15: convenience store shopping occasions, by gender and generation, 2024
- C-stores can tap commuters throughout the week
- Graph 16: convenience store shopping occasions, by work from home status, 2024
- Fuel and food dominate c-store trip types
- Graph 17: convenience store trip types, 2024
- However, c-stores can't bank on gas alone to drive traffic
- Convenience stores see younger and multicultural consumers come in-store for a wide variety of reasons
- Convenience stores can be a catch-all shopping trip for younger consumers and multicultural consumers
- Graph 18: convenience store trip types, by generation, 2024
- Convenience stores can be a catch-all shopping trip for younger consumers and multicultural consumers (cont.)
- Graph 19: convenience store trip type, by race and Hispanic ethnicity, 2024
- Motivations to shop at convenience stores
- For consumers to shop more often, convenience stores need exactly that – convenient
- Graph 20: motivations to shop at convenience stores more often, 2024
- Elevated services will entice younger generations to shop at convenience stores more often
- Younger consumers are looking for elevated offerings from convenience stores
- Graph 21: motivations to shop more at convenience stores, by generation, 2024
- Multicultural consumers look to convenience stores to do more than serve quick bites
- Graph 22: motivations to shop at convenience stores more often, by race and Hispanic ethnicity, 2024
- Time-saving options will assist consumers who visit at different parts of the day
- Graph 23: motivations to at convenience store more often, by store hours visited, 2024
- Reasons to shop at retailers other than convenience stores
- Other retailers win with price, selection and convenient locations
- Graph 24: reasons to shop at retailers other than convenience stores, 2024
- Elevated services, cleaner store environments entice younger generations away from convenience stores
- Graph 25: reasons to shop at retailers other than convenience stores, by generation, 2024
- Multicultural consumers find better service elsewhere than at convenience stores
- Graph 26: reasons to shop at retailers other than convenience stores, by race and Hispanic ethnicity, 2024
- Loyalty program participation and barriers
- Half of consumers participate in loyalty programs leaving ample opportunity to encourage others to join
- Graph 27: loyalty program participation, 2024
- Low visit frequency deters consumers from joining loyalty programs
- Younger consumers need reminders and to earn rewards quickly
- Graph 28: barriers to joining convenience store loyalty programs, by generation, 2024
- Personalized rewards can encourage multicultural consumers to sign up
- Graph 29: barriers to joining convenience store loyalty programs, by race and Hispanic ethnicity, 2024
- Loyalty programs can work harder with retailer partnerships
- Attitudes toward convenience stores
- Convenience stores will need to evolve in the future
- Graph 30: attitudes toward convenience stores – experience, 2024
- Experiential retailing will engage younger consumers
- Graph 31: attitudes toward convenience stores – experience, by generation, 2024
- Convenience stores can look to lean into health and wellness
- Graph 32: attitudes toward convenience stores – food and drink, 2024
- Healthier options will meet younger consumers' requests
- Graph 33: attitudes toward convenience stores – food and drink, any agree, 2024
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Innovation and Marketing Trends
- Marketing and advertising
- Circle K partners with Too Good To Go
- 7-Eleven sweetens Slurpee Day with sweepstakes and charity support
- Retailers jump in on c-stores to tap into opportunities for EV charging stations
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Appendix
- Market definition
- Consumer research methodology
- Consumer questions
- Generations
- Market Size Methodology
- Forecast methodology
- Forecast fan chart methodology
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