Key Takeaways
- In 2023, the U.S. convenience store industry generated total in-store sales of $301.3 billion, marking a 2.3% increase from 2022.
- Fuel sales at U.S. convenience stores reached $253.8 billion in 2023, accounting for 53.7% of total industry revenue.
- Average gross margin for inside sales at convenience stores was 37.4% in 2023.
- 65% of convenience store customers are repeat daily visitors.
- Impulse purchases account for 62% of all in-store transactions at c-stores.
- 78% of c-store shoppers buy beverages during visits.
- Average inventory turnover rate for c-stores is 45 times per year.
- 72% of c-stores operate 24/7.
- Average number of SKUs per c-store: 4,500.
- Total U.S. c-store employees: 1.9 million in 2023.
- Average hourly wage for c-store clerks: $13.45 in 2023.
- 52% of workforce is part-time employees.
- Foodservice sales projected to grow 4.5% annually through 2028.
- EV charging demand at c-stores to rise 25% yearly to 2030.
- Cashless society shift: cash usage to drop to 15% by 2028.
Fuel sales dominate but in-store convenience goods drive profits and steady growth.
Consumer Behavior and Sales
- 65% of convenience store customers are repeat daily visitors.
- Impulse purchases account for 62% of all in-store transactions at c-stores.
- 78% of c-store shoppers buy beverages during visits.
- Average transaction value inside c-stores was $4.21 in 2023.
- 42% of customers purchase foodservice items weekly at c-stores.
- Millennial shoppers represent 35% of c-store traffic.
- 55% of fuel purchases are made with in-store buys combined.
- Female customers make up 48% of c-store visits in urban areas.
- 71% of customers cite location convenience as primary reason for choice.
- Average dwell time in c-stores is 4.2 minutes per visit.
- 29% of sales come from evening hours (6pm-10pm).
- Loyalty program members spend 18% more per visit.
- 52% of Gen Z prefer c-stores for quick meals/snacks.
- Mobile app usage for payments grew to 22% of transactions in 2023.
- 67% of truckers rely on c-stores for daily needs.
- Average basket size for foodservice is 1.8 items.
- 44% of customers buy tobacco products on impulse.
- Weekend sales peak at 28% higher than weekdays.
- 61% prefer self-checkout for faster service.
- Hispanic consumers represent 24% of c-store shoppers.
- 73% of visits are under 5 minutes total time.
- Energy drinks are top impulse buy for 39% of males 18-34.
- 56% of customers use credit cards for purchases over $10.
- Breakfast foodservice peaks at 32% of daily food sales.
- 49% cite price as top factor in product choice.
- Online ordering pickup usage at 12% of urban c-stores.
- Average annual visits per customer: 85 times.
- 38% buy lottery on every visit.
Consumer Behavior and Sales Interpretation
Employment and Workforce
- Total U.S. c-store employees: 1.9 million in 2023.
- Average hourly wage for c-store clerks: $13.45 in 2023.
- 52% of workforce is part-time employees.
- Turnover rate averages 112% annually industry-wide.
- Managers earn average $52,300 annually.
- 28% of employees are aged 16-20.
- Female employees comprise 45% of total staff.
- Training hours per new hire average 20 hours.
- Overtime hours represent 4% of total labor hours.
- 67% offer health insurance to full-time staff.
- Average tenure for managers: 4.2 years.
- Hispanic workers: 32% of c-store workforce.
- Shift supervisor wage: $15.80 per hour average.
- 41% use staffing agencies for peak seasons.
- Unionized stores: less than 5% of total.
- Night shift positions filled 92% of scheduled hours.
- Average benefits cost per employee: $4,200 yearly.
- 55% of stores cross-train staff for fuel/foodservice.
- Remote monitoring reduces on-site staff by 15%.
- Gen Z hires increased 18% in 2023.
- Injury rate: 3.2 per 100 workers annually.
- Overtime pay averages 1.5 times base rate.
- 62% provide paid time off to eligible staff.
- Contractor usage for maintenance: 24% of stores.
- Average recruitment cost per hire: $1,200.
- 76% turnover attributed to scheduling issues.
- EV transition expected to create 50,000 new jobs by 2030.
Employment and Workforce Interpretation
Financial Performance
- In 2023, the U.S. convenience store industry generated total in-store sales of $301.3 billion, marking a 2.3% increase from 2022.
- Fuel sales at U.S. convenience stores reached $253.8 billion in 2023, accounting for 53.7% of total industry revenue.
- Average gross margin for inside sales at convenience stores was 37.4% in 2023.
- Total U.S. convenience store industry revenue hit $722.5 billion in 2023.
- Packaged beverages accounted for 26.8% of in-store gross margin dollars in 2023.
- Cigarette sales contributed 22.1% to total in-store sales in 2023.
- Average annual sales per U.S. convenience store were $5.2 million in 2023.
- Foodservice sales grew by 5.8% year-over-year in 2023 at convenience stores.
- The top 10 convenience store chains controlled 28.4% of total industry sales in 2023.
- Average fuel margin per gallon was 19.7 cents at U.S. convenience stores in 2023.
- Prepared food sales represented 18.3% of in-store sales in 2023.
- Total number of U.S. convenience stores stood at 148,012 in 2023.
- Candy category generated $12.4 billion in sales, or 5.2% of in-store total in 2023.
- Average store size for convenience stores increased to 3,206 square feet in 2023.
- Alternative fuels (E85, electric) accounted for 1.2% of total fuel volume in 2023.
- Snacks/salty snacks sales hit $18.7 billion, 7.8% of in-store sales in 2023.
- Beer sales volume grew 1.4% in 2023 at convenience stores.
- Gross profit from foodservice reached $28.5 billion industry-wide in 2023.
- Lottery sales contributed $38.2 billion, or 16% of in-store sales in 2023.
- Average inside sales per store per month were $433,000 in 2023.
- Fuel gallons sold totaled 75.6 billion at convenience stores in 2023.
- Health and beauty care sales increased 4.2% to $9.1 billion in 2023.
- Top 202 chains had combined sales of $204 billion in 2023.
- Average operating expense per store was $2.8 million in 2023.
- Wine sales grew 3.1% in volume at c-stores in 2023.
- Total industry net profit margin averaged 2.4% in 2023.
- Energy drinks sales surged 6.7% to $8.3 billion in 2023.
- Average fuel sales per store were $2.4 million annually in 2023.
- Tobacco products (non-cigarette) sales reached $15.6 billion in 2023.
- Overall industry sales growth was 3.1% in 2023 excluding fuel.
Financial Performance Interpretation
Operational and Inventory Stats
- Average inventory turnover rate for c-stores is 45 times per year.
- 72% of c-stores operate 24/7.
- Average number of SKUs per c-store: 4,500.
- Fuel dispenser count averages 8 per location.
- Shrinkage rate averages 1.2% of sales due to theft/inventory loss.
- 85% of c-stores use POS systems integrated with inventory.
- Average cooler space: 1,200 cubic feet per store.
- Labor costs represent 28% of total operating expenses.
- 63% of stores have foodservice preparation areas.
- Inventory days on hand average 8.1 days.
- Number of EV charging stations at c-stores: 12,500 in 2023.
- Average store electricity usage: 45,000 kWh annually.
- 41% use automated reordering for high-turnover items.
- Waste diversion rate averages 35% through recycling.
- Average number of employees per shift: 2.3.
- Fuel storage tank capacity averages 200,000 gallons per site.
- 76% have security cameras covering 90% of store area.
- Hot beverage machines in 92% of locations.
- Average planogram update frequency: quarterly.
- Diesel sales volume: 12.4 billion gallons annually.
- 55% integrate loyalty data with inventory systems.
- Average shelf life monitoring for perishables: 48 hours.
- Number of fountain drink heads averages 10 per store.
- Vendor-managed inventory used by 34% for beverages.
- Average truck delivery frequency: 3 times weekly.
- CO2 emissions per store average 250 metric tons yearly.
- 68% have ATM machines on site.
- Average age of fuel pumps: 12 years.
Operational and Inventory Stats Interpretation
Trends and Future Projections
- Foodservice sales projected to grow 4.5% annually through 2028.
- EV charging demand at c-stores to rise 25% yearly to 2030.
- Cashless society shift: cash usage to drop to 15% by 2028.
- Total industry sales forecasted at $850 billion by 2028.
- Smokeless tobacco market to grow 3.2% CAGR to 2027.
- Plant-based food options to double by 2026 in c-stores.
- Autonomous stores piloted in 5% of chains by 2025.
- Fuel volume decline projected at 1.5% annually to 2030.
- Delivery services adoption to reach 40% by 2027.
- Healthy snacks segment to grow 7.1% CAGR.
- AI inventory prediction in 30% of stores by 2026.
- C-store count to stabilize at 145,000 by 2028.
- Non-fuel sales to comprise 65% of revenue by 2030.
- Micro-fulfillment centers in 15% of large chains by 2027.
- Cannabis sales legal in 20 states to boost c-stores 12%.
- Sustainability initiatives in 88% of chains by 2025.
- Contactless payments to hit 75% of transactions by 2026.
- Fresh produce sales up 9% annually through 2028.
- Ghost kitchens partnership in 25% of foodservice by 2027.
- Data analytics spend to increase 22% yearly.
- Rural c-stores to gain 10% market share growth.
- Personalized marketing ROI projected at 5:1 by 2026.
- Hydrogen fueling stations at 1,000 c-stores by 2030.
- Omnichannel integration in 60% by 2028.
Trends and Future Projections Interpretation
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