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The Quiet Revolution in Convenience

05/05/2014

The Quiet Revolution in Convenience

There’s a quiet revolution underway. Some convenience store owners are replacing those long aisles with kiosks, experimenting with larger footprint stores and adding “good for you” products next to the candy bars. Shoppers have rewarded convenience store management for these innovations: when compared to grocery and drug stores, the convenience channel was the only channel that enjoyed both dollar sales and unit growth in 2012.

The convenience store channel is experiencing above-average growth, supported by an increasing store count and a business model that is well suited to address consumers’ on-the-go lifestyles.

  • Gasoline is a top-selling product for the convenience channel, providing both opportunities and challenges for convenience store marketers vis-à-vis in-store sales activity.
  • Cigarettes, too, contribute heavily to convenience store revenues; this segment is under significant pressures from regulation and changing consumer lifestyles, harkening a need for change in existing strategies in this and related CPG categories.
  • The foodservice segment is experiencing strong growth within the convenience store arena, and has the potential to act as a catalyst in elevating the channel’s reputation around health and wellness as well as value while allowing consumers to fuel up without slowing down.
  • Outdoor advertising is a powerful, yet under-leveraged, quiver in convenience store marketers’ arsenals. 

Click here for a thorough report on the state of convenience stores.

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