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US Convenience Stores Forecast to 2014
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Publish Date : Apr, 2012| No. of Pages : 70
The US convenience stores (c-stores) industry, one of the world’s largest and fastest growing sectors, present lucrative investment opportunities for new players. Despite economic slowdown and financial crisis, the industry has showed a splendid performance in the past few years, with the number of convenience stores continuously rising. C-stores have greatly benefited from the growth of the overall retail industry. As per our latest findings, the consumers’ increasing appetite for convenient shopping and soaring sales of low-priced non-traditional products have had a positive impact on the US c-stores market, which is anticipated to expand at a CAGR of around 11% during 2011-2014 to reach around US$ 856.5 Billion.
According to our latest research report, “US Convenience Stores Forecast to 2014”, the US has a huge growth potential for the c-store industry as the rise in retail sales and large consumer base have given a significant boost to this sector, and the trend is expected to continue in future. Further, it is expected that the US working population will climb to the level of 211.9 Million by 2014-end, and this busy lifestyle of people will drive the country’s c-store market. The study also revealed that socio-demographic shifts and economic environment will also act as market drivers.
In the US, the total c-store sales include motor fuel sales and in-store sales. It was found that the motor fuel sales held a major share in the total c-store sales during 2011. The industry is dominated by single store business, and at the state level, Texas, California, Florida and New York accounted for the majority of the total convenience stores’ count during the same period. During our study of the industry trends, we observed that that the US c-store market is moving towards consolidation. The number of mergers and acquisitions in the sector will continue to increase. We have also discussed how the concept of mobile wallet and the expanding food services market will fuel the industry’s growth.
In our comprehensive report, we also studied how the competitive landscape has been changing in the industry, and in which direction it is likely to move over the next few years. We expect that a large number of companies will foray into the lucrative US c-store market with their diversified product portfolio, and this will lead the incumbent players to invest heavily in establishing their stores across different states of the country. Our report briefly covers the consumer behavior in the country, and it is expected that this research study will help clients align their business strategies as per the changing market dynamics.