First Research US Industry Profile

View Sample
Convenience Stores & Truck Stops
SIC Codes: 5411
NAICS Codes: 44512, 447110
Last Quarterly Update: 6/17/2019
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), Circle K (a division of Canada-based Couche-Tard), Casey's General Stores, 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 $5 trillion by 2022, according to a report from GlobalData. Japan, China, and emerging markets in Southeast Asia are among the fastest growing for c-stores.
The US c-store and truck stop industry includes more than 155,000 stores, according to the National Association of Convenience Stores, with combined annual revenue of about $650 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 c-stores sell gas, food, and other types of merchandise, companies compete with a wide range of retailers, including gas stations, grocery stores, mass merchandisers, drug stores, warehouse clubs, fast-food restaurants, and even dollar stores. Dollar stores are adding staples such as milk and eggs, while fast-food chains offering value menus are siphoning off hungry drivers. US convenience stores serve 165 million customers daily, accounting for over 10% of total retail and food service sales, according to NACS.
Online competition is a growing threat to convenience stores as consumers change the way they shop. Amazon offers quick delivery for basic items, which otherwise might have been purchased at a convenience store. The online giant's cashier-less Amazon Go format is spurring the c-store industry to improve digital tools, such as online ordering.
Products, Operations & Technology
Fuel accounts for about 70% of US sales; other sources of revenue include groceries, cigarettes, and alcoholic beverages. Fuel includes regular, mid-grade, ... plus:
Sales & Marketing
,
Finance & Regulation
,
Regional & International Issues
,
Human Resources
Also includes the following chapters:
Quarterly Industry Update
,
Industry Indicators
,
Business Challenges
,
Trends and Opportunities
,
Call Preparation Questions
,
Financial Information
,
Industry Forecast
,
Industry Websites
,
Glossary of Acronyms

Historical Profiles (PDF format)

05/27/2019
02/25/2019
11/19/2018
08/20/2018
05/21/2018
02/19/2018
11/13/2017
08/14/2017
05/15/2017
02/06/2017
10/31/2016
08/01/2016
05/02/2016
02/01/2016
10/26/2015
08/03/2015
05/04/2015
02/02/2015
11/03/2014
08/11/2014
05/19/2014
02/24/2014
11/18/2013
08/26/2013
06/03/2013
03/11/2013
11/19/2012
08/27/2012
06/11/2012
03/19/2012
11/28/2011
08/29/2011
05/16/2011
02/14/2011
11/01/2010
08/09/2010
05/03/2010
02/01/2010