Convenience Stores & Truck Stops Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 9/23/2024
SIC Codes: 5411
NAICS Codes: 45711, 445131
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Convenience Stores & Truck Stops Industry Profile

Companies in this industry operate retail locations that primarily sell fuel, groceries, cigarettes, and alcoholic beverages. Major US companies include 7-Eleven (the North American subsidiary of Seven-Eleven Japan), Casey's, Circle K (a division of Canada-based Couche-Tard), and Wawa.

Economic growth, urbanization, and an increasing affinity for smaller store formats is driving growth in the global convenience store (c-store) sector. Worldwide c-store sales are expected to approach $7.3 trillion by 2032, according to a report from Industry Research Biz. Latin America has the most countries that recorded remarkable growth, according to the National Association of Convenience Stores (NACS).

The US c-store and truck stop industry includes about 130,000 establishments with combined annual revenue of about $400 billion. The industry includes establishments that are gas station/c-store combinations, as well as c-stores that don't sell fuel. Gas stations that don't include c-stores are covered in a separate industry profile.

COMPETITIVE LANDSCAPE

Consumer and commercial driving trends drive demand. The profitability of individual stores depends on competitive pricing, effective merchandising, and the ability to secure high-traffic locations. Large companies have advantages in purchasing and finance. Small companies can compete effectively by acquiring superior locations or offering specialized merchandise or services. The industry is fragmented: the top 50 US companies account for about 40% of industry sales. Single-store operators predominate, accounting for more than 60% of all convenience stores, according to the National Association of Convenience Stores (NACS).

Because ...

 
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