Table of Contents
Executive Summary
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- The issues
- Low gas prices bring a positive outlook
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- Figure 1: Total US convenience stores revenues and fan chart forecast, at current prices, 2010-20
- Bigger is best
- Core audience is highly engaged with c-store
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- Figure 2: Convenience store visits, by select demographics, December 2015
- The opportunities
- Strengthen the base
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- Figure 3: Factors influencing convenience store selection, by select demographics, December 2015
- Drive more engagement with women
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- Figure 4: Desired improvements to convenience stores, by female and age, December 2015
- Take advantage of technology
- What it means
The Market – What You Need to Know
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- Low gas prices fuel sales growth
- Food, tobacco make up the majority of sales
- Drugstores, smaller format stores stoke competition
Market Size and Forecast
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- Low gas prices help lift c-stores out of their slump
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- Figure 5: Total US convenience stores revenues and fan chart forecast, at current prices, 2010-20
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- Figure 6: Total US convenience store revenues and forecast, 2010-20
Market Breakdown
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- Food and beverage lead c-store sales, edging out tobacco
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- Figure 7: Distribution of convenience store sales, by category, 2013-14
Market Perspective
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- Drugstores expand
- Everyone’s thinking small
Market Factors
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- Gas prices drive c-store sales
- Growth in younger, Hispanic consumers provides a boost
- New push for healthier food
- Winning with the lottery?
Key Players – What You Need to Know
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- C-stores focus on consolidation
- 7-Eleven drives franchising
- BP continues to make cuts
- Fresh foods, time savings provide opportunity
What’s Working?
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- Reward loyalty
- Think fresh and local
What’s Struggling?
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- Get the basics right
- Diversify beyond gas
- Make way for mobile
What’s Next?
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- Surf the e-commerce wave
- Make c-stores even more convenient
The Consumer – What You Need to Know
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- Young men and Hispanics form the key audience
- Fueling up and filling in
- Everyone comes to the c-store
- Strong interest in drinks
- The need for speed
- Better value provides an opportunity
Convenience Store Visits
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- Consumers love the c-store
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- Figure 8: Convenience store visits, December 2015
- Untapped potential in female shoppers
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- Figure 9: Visited any convenience store, by gender and age, December 2015
- Young, higher-income shoppers frequent c-stores
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- Figure 10: Visited any convenience store, by age and household income, December 2015
- Asian shoppers least likely to visit c-stores
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- Figure 11: Visited any convenience store, by race/Hispanic origin, December 2015
Reasons for Visiting Convenience Stores
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- Food, gas motivate c-store stops
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- Figure 12: Reasons for visiting convenience stores, December 2015
- Men more motivated by food
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- Figure 13: Reasons for visiting convenience stores, by gender, December 2015
- Foodservice strongly appeals to the young, affluent base
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- Figure 14: Reasons for visiting convenience stores, by age and household income, December 2015
- Children encourage snacking at the c-store
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- Figure 15: Reasons for visiting convenience stores, by presence of children in household, December 2015
Items Purchased at Convenience Stores
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- Beverages the most popular c-store purchase
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- Figure 16: Items purchased at convenience stores, December 2015
- Young women like pre-packaged drinks and food
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- Figure 17: Items purchased at convenience stores, by gender and age, December 2015
- Hispanics are high on c-store food
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- Figure 18: Items purchased at convenience stores, by Hispanic origin, December 2015
Factors That Influence Convenience Store Selection
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- Convenience, gas prices key motivators
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- Figure 19: Factors influencing convenience store selection, December 2015
- Young men most likely to value selection
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- Figure 20: Factors influencing convenience store selection, by gender and age, December 2015
- Higher-income young people the most likely to grocery shop
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- Figure 21: Factors influencing convenience store selection, by age and household income, December 2015
Desired Improvements to Convenience Stores
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- Better value, more rewards most prized
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- Figure 22: Desired improvements to convenience stores, December 2015
- Core customers most interested in speed
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- Figure 23: Desired improvements to convenience stores, by gender and age, December 2015
- Loyalty programs could help drive interest from some older shoppers
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- Figure 24: Desired improvements to convenience stores, by age and household income, December 2015
- Hispanics more likely to be motivated by selection
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- Figure 25: Desired improvements to convenience stores, by Hispanic origin, December 2015
Attitudes toward Convenience Stores
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- Relatively high levels of satisfaction with c-stores
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- Figure 27: Attitudes toward convenience stores, December 2015
- Brand loyalty needs to improve for younger men
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- Figure 28: Attitudes toward convenience stores, by gender and age, December 2015
- Health more of a concern for affluent shoppers
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- Figure 29: Attitudes toward convenience stores, by age and household income, December 2015
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Fan chart forecast
- Consumer survey data
- Abbreviations and terms
- Abbreviations
- Terms
Appendix – Market
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- Figure 30: Total US convenience stores revenues and forecast at inflation-adjusted prices, 2010-20
- Figure 31: Average US retail gas prices, 2010-15
- Figure 32: US population by age and gender, 2015-25
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