'One Out of Every $22'
C-store sales at pump, inside store, set new records in 2011: NACS
Published in CSP Daily News
ALEXANDRIA, Va. -- Convenience store sales, both at the pump and inside the store, set new records in 2011, according to the just-officially-released the NACS State of the Industry Report of 2011 Data. In-store convenience store sales grew 2.4%, reaching a record $195 billion. Combined with $486.9 billion in motor fuels sales, total convenience store sales in 2011 were $681.9 billion, or one out of every $22 of the overall $15.04 trillion U.S. gross domestic product.
Meanwhile, fuels price volatility continues to play a huge role in motor fuels sales data. While motor fuels revenues jumped 27.1%, gallons sold per store declined 0.4% compared to 2010. Motor fuels gross margins increased from 15.8 cents to 18.4 cents per gallon before expenses, but dipped on a percentage basis, falling from 5.64% to 5.23%.
(See Related Content below for CSP magazine's "Preview of NACS State of the Industry Report of 2011 Data.")
Part of the industry's sales growth also can be attributed to an increase in store count, said NACS. The number of U.S. convenience stores grew 1.2% over the past year to a record 148,126 stores, according to the NACS/Nielsen Convenience Industry Store Count, released in January 2012. Convenience stores now account for 34.6% of all retail outlets, according to Nielsen.
The report is an industry benchmarking tool and collection of industry and firm-level category data and trends based on the convenience and fuel retailing industry's 2011 performance.
Compiling and analyzing industry totals, trends and averages, the 174-page report also examines economic conditions and their potential impact on the industry. Charts and tables focus on every area of the industry's 2011 performance, including financial performance, store operations, merchandising, foodservice, motor fuels sales and quartile analysis.
Founded in 1961 as the National Association of Convenience Stores, NACS is the international association for convenience and fuel retailing. The U.S. c-store industry, with more than 148,000 stores across the country, posted $681 billion in total sales in 2011, of which $486 billion were motor fuels sales. NACS has 2,100 retail and 1,600 supplier member companies, which do business in nearly 50 countries.