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        Convenience Stores & Truck Stops Industry Profile

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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 $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 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 c-stores sell gas, food, and other ...

         
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