Convenience stores experienced a 16th straight year of record in-store sales in 2018.
Convenience stores used to be the stop to shop for a soda and a bag of chips after getting gas, but now more consumers are using them as an efficient way to grab a bouquet of fresh flowers, a premade salad, a cup of soup or bakery item.
This past week, the group released data that showed convenience stores experienced a 16th straight year of record in-store sales in 2018, with total sales surging 8.9% to $654.3 billion.People, specifically millennials, are keeping fewer foods in their pantry and reaching more often for prepared foods. And the higher the income, the fewer grocery trips that consumer is likely to make.
Just because the products are changing doesn't mean people want to spend more time in convenience stores. Efficiency is still paramount. While trips to grocery and big box stores average about 40 minutes with the intention of shopping for one to two weeks, convenience store shopping is all about immediate consumption.
Because gas prices have been below $3 a gallon for several years, Lenard said, fewer people are picking where to buy gas based on price and more people are choosing fuel-stops based on the quality of its convenience store.
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