Convenience Stores in the US
Over the five years to 2018, the Convenience Stores industry has withstood fierce competition by offering convenience, value and a variety of fresh and healthful products. The small size and accessibility of convenience stores enable operators to adapt to changing environments and consumer preferences, making them more resilient than supermarkets and other food retailers, causing industry revenue to increase over the five years to 2018. However, credit card usage and interchange fees have gone up in recent years, placing downward pressure on industry profitability. Wages have also increased as stores extended operating hours to satisfy consumers' needs at all times. As the economy recovers and disposable income levels rise, consumers are expected to turn to the convenience of industry establishments. Over the five years to 2023, IBISWorld anticipates cigarette unit sales to decline further, as health concerns and higher prices deter consumers from smoking. Consequently, while sales of this industry's leading product segment are expected to decline, greater focus on convenience and fresh food will help boost industry revenue.
Operators in this industry are retail businesses that primarily sell basic food, beverage and tobacco merchandise in convenient locations that are generally open during extended hours. This report excludes gas stations (IBISWorld report 44719), gas stations with convenience stores (44711), grocery stores (44511) and small kiosks.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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