4 Trends for You to Love in the C-Store Industry in 2023
2023 is projected to be a big year for the c-store industry. According to NACS, “The U.S. convenience store industry reversed a 4-year decline in store count. There are 150,174 convenience stores, 118,678 of which sell fuel, operating in the United States, a 1.5% increase from a year earlier.”
Here are 4 trends to love in the convenience store industry this year…
- Foodservice
“Foodservice sales alone were up more than 20% after suffering a 10% pandemic-induced decline in 2020,” according to C-store News’ state of the industry report. The category is expected to be a big industry focus for 2023 as more consumers shift focus to the in-store experience and expect convenience stores to be a one-stop- shop for food, fuel, and more.
- Technology
Technology will continue to be an important asset for c-stores in 2023. From technology that automates business practices to better Wi-Fi to the best payment technology. Convenience is key for this industry and to do that owners must be paired with technology that makes their business more convenient and improves the customer experience.
- In-store Experience
C-stores experienced a 6.2% growth in in-store sales in 2022, a record high according to C-store News’ state of the industry report. Meaning more people are coming back in-store to buy goods. You can learn more about the in-store experience at www. goebt.com/cstoreinstore
- Loyalty Programs
A big focus this year will be getting as many people as possible into loyalty programs, according to C-store Dive. Convenience stores who offer loyalty programs can see better customer retention/ increased repeat customers, better insight on what products are selling well at their store, and even boosted sales – since it is known that repeat customers tend to spend more per transaction.
While these 4 trends are expected to lead the way for 2023, let’s look back on some of the best of 2022.
- The c-store count is up after 4-year (NACS)
- Total U.S. c-store sales grew by nearly 25% to $663.5 billion. (C-Store News)
- Motor fuel revenue was up 40%. (C-Store News)
- In-store sales (including foodservice) were up a solid 6.2% to reach a record (C-Store News)
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