Step right up to the $837.4 billion economic engine that fuels America's daily commute and quick cravings, where convenience stores aren't just pit stops but powerhouse retailers.
Key Takeaways
- U.S. convenience stores generated $837.4 billion in total in-store and fuel sales in 2023
- The convenience store industry saw a 2.8% increase in total sales from 2022 to 2023 reaching $837.4 billion
- Fuel sales accounted for 52% of total convenience store revenue in 2023 at $435.2 billion
- Beverages category grew 4.3% to $55.8 billion in 2023
- Cigarettes remained the top category at $60.1 billion despite 8.2% decline in 2023
- Snacks category sales increased 6.2% to $37.4 billion in 2023
- Gasoline volume sold at c-stores was 77.2 billion gallons in 2023
- Average fuel price was $3.52 per gallon at c-stores in 2023
- Fuel sales revenue totaled $435.2 billion, up 1.4% in 2023
- Average customer visits per store 3,200 daily in 2023
- 70% of c-store customers are repeat weekly visitors in 2023
- Foodservice purchases made by 42% of c-store customers daily in 2023
- Total c-store employees numbered 1.95 million in 2023
- Average wage per employee $16.45 per hour in 2023
- 65% of stores operate 24 hours daily in 2023
The convenience store gas station industry had record sales with fuel remaining its most important revenue source.
Consumer and Traffic
1Average customer visits per store 3,200 daily in 2023
Verified270% of c-store customers are repeat weekly visitors in 2023
Verified3Foodservice purchases made by 42% of c-store customers daily in 2023
Verified4Average basket size $6.23 for combined fuel and inside in 2023
Directional562% of customers buy beverages on every visit in 2023
Single source6Millennial/Gen Z represent 48% of c-store shoppers in 2023
Verified755% of traffic during peak morning hours 6-9 AM in 2023
Verified8Female customers 51% of total c-store traffic in 2023
Verified9Mobile app usage for payments 28% of transactions in 2023
Directional10Loyalty program members 65% of customers in 2023
Single source11Average dwell time inside store 4.2 minutes in 2023
Verified1238% of customers buy snacks on impulse in 2023
Verified13Weekend traffic 25% higher than weekdays in 2023
Verified1472% of fuel buyers also purchase inside items in 2023
Directional15Contactless payments 47% of inside transactions in 2023
Single source16Hispanic consumers 22% of c-store traffic in 2023
Verified17Average age of c-store customer 41 years in 2023
Verified1829% growth in female foodservice buyers since 2020 in 2023
Verified19Prime drive times account for 60% of daily traffic in 2023
Directional2081% of customers value speed of service in 2023 survey
Single source21Inside-only purchases 35% of transactions in 2023
Verified22Urban c-stores see 15% higher traffic than rural in 2023
Verified2367% of customers use c-stores for quick meals in 2023
Verified24Transaction growth 3.2% to 162 billion in 2023
DirectionalConsumer and Traffic Interpretation
It is a relentless, caffeinated ballet of loyalty and impulse where a staggering 3,200 daily patrons, over half of whom are in a morning sprint, are deftly separated from an average of $6.23 in just over four minutes, primarily for fuel, a beverage, and the sudden, undeniable need for a taquito.
Fuel and Gas Sales
1Gasoline volume sold at c-stores was 77.2 billion gallons in 2023
Verified2Average fuel price was $3.52 per gallon at c-stores in 2023
Verified3Fuel sales revenue totaled $435.2 billion, up 1.4% in 2023
Verified4Gasoline represented 92% of fuel volume sold in 2023
Directional5Diesel sales volume 6.1 billion gallons at c-stores in 2023
Single source6Average gross profit per gallon on gasoline was 19.8 cents in 2023
Verified778.3% of c-stores offered diesel in 2023
Verified8Ethanol-blended gasoline was 94.2% of all gasoline sold in 2023
Verified9E85 sales volume 165 million gallons in 2023 at c-stores
Directional10EV charging stations at 12,403 c-store locations in 2023
Single source1182% of c-stores with fuel had 8 or more fueling positions in 2023
Verified12Average fuel sales per store $2.86 million in 2023
Verified13Premium gasoline share of sales 22.4% in 2023
Verified14Midgrade gasoline 14.7% of volume in 2023
Directional15Regular gasoline 62.9% of sales volume in 2023
Single source16Fuel transactions averaged 2.1 million per store annually in 2023
Verified17Pay-at-the-pump used in 85% of fuel transactions in 2023
Verified18Average gallons per fuel transaction 9.8 in 2023
Verified19CNG/LNG stations at 1,200 c-store sites in 2023
Directional20Biodiesel offered at 15% of c-store fuel sites in 2023
Single source21Fuel profit contribution 28% of total gross profit in 2023
Verified22Gasoline demand declined 2.1% in volume 2023
Verified23Diesel margins averaged 25.4 cents per gallon in 2023
Verified2465% of c-stores offer 24-hour fueling in 2023
Directional25EV chargers grew 45% to 12,403 sites in 2023
Single source26Convenience stores captured 58% of U.S. fuel market share in 2023
VerifiedFuel and Gas Sales Interpretation
In 2023, America’s convenience stores, by deftly converting their colossal, 77-billion-gallon river of gasoline into a surprisingly modest 19.8-cent trickle of profit per gallon, proved they’re really just in the business of using fuel to lure you inside for a vastly more profitable gallon of milk and a lottery ticket.
Operations and Employment
1Total c-store employees numbered 1.95 million in 2023
Verified2Average wage per employee $16.45 per hour in 2023
Verified365% of stores operate 24 hours daily in 2023
Verified4Average store employs 12.8 FTEs in 2023
Directional5Labor costs 28.4% of total operating expenses in 2023
Single source6Self-checkout installed in 22% of c-stores in 2023
Verified7Theft losses averaged $1,200 per store monthly in 2023
Verified845% of operators reported labor shortages in 2023 survey
Verified9Average turnover rate 112% annually in 2023
Directional10POS systems upgraded in 58% of stores since 2020 by 2023
Single source11Energy costs 8.2% of expenses in 2023
Verified1276% of c-stores use CCTV surveillance in 2023
Verified13Food prep equipment in 68% of stores in 2023
Verified14Average rent/occupancy cost 9.1% of sales in 2023
Directional15AI inventory management in 15% of chains in 2023
Single source1692% acceptance of credit/debit cards in 2023
Verified17Average training hours per employee 24 annually in 2023
Verified18Renewable energy used by 12% of c-stores in 2023
Verified19Drive-thru lanes at 18% of stores in 2023
Directional20Shrinkage rate 1.8% of sales in 2023
Single source2155% of operators plan expansion in next 5 years per 2023 survey
Verified22Delivery services offered by 32% of urban c-stores in 2023
Verified23Utility costs rose 7.4% year-over-year in 2023
Verified2441% female workforce in c-stores in 2023
DirectionalOperations and Employment Interpretation
We are an industry powered by 1.95 million people, many of whom we can't seem to keep for more than a year, all while trying to guard the slushies from an army of thieves on a budget barely above them.
Product Sales (Inside)
1Beverages category grew 4.3% to $55.8 billion in 2023
Verified2Cigarettes remained the top category at $60.1 billion despite 8.2% decline in 2023
Verified3Snacks category sales increased 6.2% to $37.4 billion in 2023
Verified4Packaged sweets sales reached $20.1 billion, up 5.4% in 2023
Directional5Salty snacks sales were $17.3 billion, growing 7.1% in 2023
Single source6Candy sales totaled $12.8 billion with 4.9% growth in 2023
Verified7Foodservice overall sales hit $65.2 billion, 21.5% of in-store in 2023
Verified8Prepared foodservice sales grew 9.1% to $32.7 billion in 2023
Verified9Hot beverages sales were $6.2 billion, up 3.8% in 2023
Directional10Energy drinks sales reached $10.4 billion, 18.6% of beverages in 2023
Single source11Carbonated soft drinks sales $15.7 billion, down 1.2% in 2023
Verified12Sports/energy drinks grew 12.3% to $10.4 billion in 2023
Verified13Bottled water sales $9.8 billion, up 6.7% in 2023
Verified14Beer sales totaled $18.9 billion in c-stores in 2023
Directional15Wine sales grew to $4.2 billion, up 8.1% in 2023
Single source16Other tobacco products (OTP) sales $14.5 billion, up 4.3% in 2023
Verified17Alternative nicotine products like vapes reached $3.7 billion in 2023
Verified18Health/energy bars sales $2.9 billion, growing 11.2% in 2023
Verified19Fresh food sales increased 7.8% to $8.4 billion in 2023
Directional20Frozen/refrigerated food sales $11.2 billion, up 5.9% in 2023
Single source21OTC pharmaceuticals sales $6.7 billion in 2023
Verified22Personal care products $4.1 billion, up 3.2% in 2023
Verified23General merchandise $3.5 billion sales in 2023
Verified24Lottery was 15% of in-store sales at $45.3 billion in 2023
DirectionalProduct Sales (Inside) Interpretation
The American convenience store now functions less like a simple pit stop and more like a one-stop temple of vice and vitality, where our collective craving for a quick sugar rush, a nicotine fix, and a hopeful lottery ticket is only narrowly outpaced by our sudden, guilt-driven interest in fresh food and energy bars.
Revenue and Market Size
1U.S. convenience stores generated $837.4 billion in total in-store and fuel sales in 2023
Verified2The convenience store industry saw a 2.8% increase in total sales from 2022 to 2023 reaching $837.4 billion
Verified3Fuel sales accounted for 52% of total convenience store revenue in 2023 at $435.2 billion
Verified4In-store merchandise sales hit a record $302.5 billion in 2023, up 5.7% from 2022
Directional5Average gross margin for convenience stores was 38.7% on in-store sales in 2023
Single source6Total number of convenience stores in the U.S. stood at 152,255 in 2023
Verified7The top 10 convenience store chains accounted for 22.7% of total industry sales in 2023
Verified8Convenience store foodservice sales reached $65.2 billion in 2023, representing 21.5% of in-store sales
Verified9Packaged beverages generated $55.8 billion in sales in 2023, the largest in-store category at 18.5%
Directional10Cigarettes sales declined to $60.1 billion in 2023, down 8.2% from prior year
Single source11Average annual sales per store reached $5.5 million in 2023
Verified12Industry profit margins averaged 4.2% in 2023 after expenses
Verified13Foodservice prepared sales grew 9.1% to $32.7 billion in 2023
Verified14Total U.S. gas station revenue was $632 billion in 2022
Directional15Convenience stores with fuel represented 80% of all U.S. c-stores in 2023
Single source16Average fuel profit margin was 19.8 cents per gallon in 2023
Verified17In-store sales per customer transaction averaged $3.45 in 2023
Verified18Total industry sales grew at a CAGR of 4.5% from 2018-2023
Verified19Top 202 chains generated $275 billion in 2023
Directional20Alternative fuels sales contributed $2.1 billion in 2023
Single source21Snacks/candy sales hit $37.4 billion, up 6.2% in 2023
Verified22Average store size was 2,821 square feet in 2023
Verified23E-commerce penetration in c-stores was under 1% of sales in 2023
Verified24Lottery sales totaled $45.3 billion across c-stores in 2023
Directional25Gross profit from fuel was $31.2 billion in 2023
Single source26In-store sales growth was led by foodservice at 9.1% in 2023
Verified27Total U.S. gas stations numbered 113,802 in 2023
Verified28Industry EBITDA margin averaged 6.8% in 2022
Verified29Prepared food sales per store averaged $214,800 in 2023
Directional30Total sales from top 10 states represented 45% of industry in 2023
Single sourceRevenue and Market Size Interpretation
The convenience store has mastered the art of the profitable pitstop, where we begrudgingly pay a premium for a tank of gas that lures us inside to impulsively buy a record-breaking amount of snacks and surprisingly decent prepared food, all while the real money is made on a 38.7% markup on that soda you didn't need but now desperately crave.
Sources & References
- Reference 1CONVENIENCEconvenience.orgVisit source
- Reference 2CSPDAILYNEWScspdailynews.comVisit source
- Reference 3NACSMAGAZINEnacsmagazine.comVisit source
- Reference 4STATISTAstatista.comVisit source
- Reference 5IBISWORLDibisworld.comVisit source
- Reference 6AFDCafdc.energy.govVisit source
- Reference 7EIAeia.govVisit source