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U.S. Convenience Stores: New Face Of Traditional Shopping

Feb 20, 2006

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The current economic trends, consumers' preferences, technological advancements, sales analysis, the market distribution, and the changing demographic trends are some of the factors influencing the U.S c-store industry.
The characteristics of the competitors such as supermarkets, vending fast food outlets, delicatessen and gas stations have been imbibed by the Convenience stores. As convenience stores began offering gasoline, the number of convenience store gasoline outlets grew, and the number of gasoline stations decreased.
According to a recent study conducted by NACS, out of the 119,751 stores in U.S., nearly 50% stores are owned by single operators while about 9% of them are franchised. A total of 76% of stores sell motor fuels, falling in the group of gasoline stores. Texas alone is home to one-tenth of all U.S. convenience stores, with a total of about 12,330 stores.
Based on the findings of the market research report “State of U.S. Convenience Store Industry—A Market Analysis” conducted by RNCOS, experts estimate the U.S. convenience food retail market to develop by around 4.1% per annum through 2007, in comparison to a 2% growth registered by the entire food and drinks industry. A two-fold increase in the gross revenue was recorded indicating about 13.2% growth between 2003 and 2004.
This report by RNCOS provides essential insights for companies that need to understand the shoppers' mindset, and motivations that influence their shopping habits. As per the analysts a great deal of the shopping is done inside the forecourt shops than within the precincts of the convenience stores.
The heart of the research study, however, is the sales distribution slews of different products in the U.S. Convenience stores industry during 2005, with the analyst’s predictions on sales growth and pattern through 2010.
The report provides insight into the company profiles of the 15 major players in the U.S., giving a comparative analysis of the growth strategies being used by them to improve their profitability.
It is imperative for the retailers of forecourt shops and convenience stores to conform to the changing customer demands. The report details how the differing trends will affect the growth trends of forecourts and c-stores. Key reasons responsible for shift in customer allegiance are analyzed and action points discussed to forestall them.
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