GITNUX MARKETDATA REPORT 2024

Convenience Store Industry Statistics And Trends in 2024

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The convenience store industry is a major player in the retail industry, and its importance is only growing. This blog post will provide an overview of the convenience store industry, including its size, growth, and key trends.

We’ll also take a look at some of the most interesting convenience store industry statistics, including sales figures, customer demographics, and more. Finally, we’ll discuss how these statistics can help you better understand the convenience store industry and how to best position your business for success.

Convenience Store Industry: The Most Important Statistics

The convenience market in the UK grew by 6.8% in 2020, with sales of groceries, alcoholic beverages, and tobacco products increasing by 10.4%, 13.7%, and 4.4%, respectively.
Canada had 33,891 convenience stores as of December 2020, with Ontario having the highest number of stores at 12,047, followed by Quebec and British Columbia.
Convenience stores accounted for 20.3% of Japan’s total retail sales in 2020, with Seven-Eleven leading the market with 41.4% of the market share.

Convenience Store Industry Statistics Overview

The convenience market in the UK grew by 6.8% in 2020, with sales of groceries, alcoholic beverages, and tobacco products increasing by 10.4%, 13.7%, and 4.4%, respectively.

Despite the economic impact of the COVID-19 pandemic, the convenience store industry in the UK was still able to experience growth. This demonstrates the resilience of the industry and indicates that it is well-positioned to continue to grow in the future.

In 2021, independent convenience stores held the largest share of the convenience store market in the UK with 46%, followed by symbol group convenience stores at 30% and multiple convenience stores at 24%.

Traditional convenience stores in the US generated $267.8 billion in sales in 2020, with fuel sales contributing to 64.4% of the revenue, while non-traditional convenience stores generated $11.1 billion with 71.4% of revenue from fuel sales.

This highlights the dominance of traditional convenience stores in the US market, and the potential for growth in the non-traditional convenience store sector.

In 2020, there were 152,720 convenience stores in the US, with the majority of stores being operated by single-store operators or small chains and large chains accounting for only 1.9%.

It shows that the majority of convenience stores in the US are owned and operated by small businesses.

Canada had 33,891 convenience stores as of December 2020, with Ontario having the highest number of stores at 12,047, followed by Quebec and British Columbia.

Convenience store retail sales in Canada increased to 50.6 billion Canadian dollars in 2020, with tobacco products being the largest segment at 20.4% of total sales.

Convenience stores accounted for 20.3% of Japan’s total retail sales in 2020, with Seven-Eleven leading the market with 41.4% of the market share.

The number of convenience stores in Japan has been steadily increasing since 2012, with Seven-Eleven being the leading convenience store chain in 2020 with 21,711 stores.

It shows that the convenience store industry in Japan is growing, which indicates that the convenience store industry is a viable and profitable business in Japan, and that it is likely to continue to be so in the future. This is important for potential investors and entrepreneurs looking to enter the convenience store industry in Japan.

The convenience store market size in South Korea has grown steadily over the past five years, reaching 20.6 trillion South Korean won in 2020 with 47,000 convenience stores and CU leading the market with a 40.2% share.

This highlights the dominance of CU in the market, which could be a potential barrier to entry for new competitors.

Convenience store sales revenue in South Korea increased 6.4% between 2015 and 2020, with CU being the leading convenience store chain in 2020 with 7.9 trillion won in revenue.

Conclusion

The convenience store industry is a growing and dynamic sector that continues to evolve with the changing needs of consumers. The industry is expected to continue to grow, with more stores opening and more products being offered.

The convenience store industry is an important part of the retail landscape and provides a valuable service to consumers. With the right strategies, convenience stores can remain competitive and profitable in an ever-changing market.

References

1 – https://www.statista.com/statistics/1321275/convenience-market-growth-united-kingdom/

2 – https://www.statista.com/statistics/692615/convenience-store-types-united-kingdom-uk/

3 – https://www.statista.com/statistics/308767/sales-of-the-us-convenience-store-industry-by-format/

4 – https://www.statista.com/statistics/308769/number-of-stores-of-the-us-convenience-store-industry/

5 – https://www.statista.com/statistics/459550/number-of-convenience-stores-by-region-canada/

6 – https://www.statista.com/statistics/432711/retail-sales-of-convenience-stores-in-canada/

7 – https://www.statista.com/statistics/1264284/japan-convenience-store-share-retail-sales/

8 – https://www.statista.com/statistics/810901/japan-convenience-store-numbers/

9 – https://www.statista.com/statistics/982246/south-korea-convenience-store-market-size/

10 – https://www.statista.com/statistics/710991/south-korea-sales-revenue-of-convenience-stores/

FAQs

What are the most popular products sold in convenience stores?

The most popular products sold in convenience stores include snacks, beverages, cigarettes, and lottery tickets.

What are the biggest challenges facing convenience stores?

The biggest challenges facing convenience stores include increased competition, rising costs, and changing customer preferences.

What are the advantages of running a convenience store?

The advantages of running a convenience store include high profit margins, low overhead costs, and the ability to serve customers quickly and conveniently.

What kind of training is needed to run a convenience store?

Training to run a convenience store typically includes learning about inventory management, customer service, cash handling, and food safety.

What are the trends in the convenience store industry?

The trends in the convenience store industry include an increased focus on fresh food options, the use of technology to improve customer experience, and the development of loyalty programs.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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