Convenience store in-store sales grew 4.4%in 2010, reaching a record $190.4 billion.
NACS has released the NACS State of the Industry Report of 2010 Data, the industry’s premier benchmarking tool and most comprehensive collection of firm-level, store-level and category data and trends based on the convenience and petroleum marketing industry’s 2010 performance.
Compiling and analyzing industry totals, trends and averages, the 200-page report also examines economic conditions and their potential impact on the industry. Charts and tables focus on every area of the industry’s 2010 performance, including financials, store operations, merchandising, foodservice, motor fuels sales and quartile analysis.
“Retailers who want to improve their operations and communicate the industry’s perspectives on motor fuels sales and other industry trends rely on the information contained in the annual NACS State of the Industry report,” said NACS Director of Research and Statistics Bob Swanson, noting that retailers consider the report a vital resource for benchmarking store performance.
According to the report, convenience store in-store sales grew 4.4%in 2010, reaching a record $190.4 billion. Combined with $385.3 billion in motor fuels sales, total convenience store sales in 2010 were $575.6 billion, or one out of every 25 dollars of the overall $14.624 trillion U.S. gross domestic product.
The 4.4% growth rate of convenience store in-store sales surpassed the growth rates of other competing channels, including warehouse stores/clubs (4.0%), restaurants (3.4%), drug stores (2.4%) and grocery stores (2.3%), based on U.S. Department of Commerce numbers.
As a result of these strong sales, convenience store pretax profits reached $6.5 billion in 2010, a remarkable turnaround from just 20 years ago, when the industry reported a loss of $220 million in 1990. As a percentage of total sales, pretax profits in 2010 were 1.1%.
Complimentary copies of this year’s report are being shipped to the companies that participated in the annual survey. “We are extremely grateful to those who submitted data for this year’s survey. Not only does the NACS State of the Industry Report serve as the industry’s premier benchmarking tool, the data complied serves as an indefensible communications tool in quantifying our priority issues, both on Capitol Hill and with the national media,” said Swanson.
Purchasers of the NACS State of the Industry Report of 2010 Data report will also receive a link to the NACS Convenience Store Industry Fact Book. The 24th edition of the Fact Book provides a detailed statistical account of industry data over the past several years — or in some cases, decades — as well as a historical recap of the industry and key definitions and events that have shaped it. The Fact Book will be available in July.
The NACS State of the Industry Report of 2010 Data (the industry’s most comprehensive collection of benchmarks, data and trends) assists leading companies in expanding their business by comparing category sales against top performers.
The NACS State of the Industry Report of 2010 Data and the Convenience Store Industry Fact Book are available to NACS member companies (order number 40022050) for $249 ($749 regular price). Additional copies of the State of the Industry Report of 2010 Data /Fact Book (order number 40022052) are available for $40. The Report/Fact Book package also is available as an electronic PDF edition (order number 40022055) to NACS members for $599 ($1,199 regular price). Orders can be placed online at www.nacsonline.com/shop or by calling NACS Customer Service at (800) 966-6227.