Food sales contribute to record sales for U.S. convenience stores
U.S. convenience stores experienced a 15th straight year of record in-store sales and a 4th straight year of $10 billion-plus in pretax profits, according to newly released State of the Industry data from the National Association of Convenience Stores (NACS).
U.S. convenience stores experienced a 15th straight year of record in-store sales and a 4th straight year of $10 billion-plus in pretax profits, according to newly released State of the Industry data from the National Association of Convenience Stores (NACS).
U.S. convenience stores sales overall surged 9.3% to $601.1 billion in 2017, led by a 14.9% increase in fuel sales. In-store sales increased 1.7% to a record $237.0 billion, with foodservice accounting for $53.3 billion in sales (22.5% of in-store sales in 2017 and 33.9% of gross profit dollars).
Convenience stores sell 23.8% of packaged beverages in the United States and saw a slight (0.4%) sales increase in 2017. Within the category, enhanced water saw the strongest sales increase (9.1%); ready-to-drink iced teas (3.5%), alternative beverages (3.5%), and bottled water (0.6%) also posted sales increases.
Snacking categories all had sales growth, as salty snacks (up 5.6%), candy (up 2.6%), and alternative snacks (up 2.0%) all had strong growth as some consumers, especially millennials, moved toward snacking and away from traditional meals.
Infographic (pdf)