Low fuel prices might have caused a drop in overall sales in retail fuel business but in the US they have driven consumers to spend more inside the convenience store, according to the latest National Association of Convenience Stores (NACS) State of the Industry (SOI) report cited on CSPnet.com. In-store sales reached a record $225.8 billion in 2015, led by a strong growth in foodservice that contributed 20.8% of in-store sales in 2015 and 33.7% of gross profit dollars.
Foodservice includes prepared and commissary food; hot, cold and dispensed beverages. Packaged beverages (carbonated soft drinks, energy drinks, sports drinks, juices, water and teas) and tobacco products were also profitable gaining 18.8% and 16.8% gross profit dollars respectively. The report also mentioned that motor fuel, with 69.2% total industry sales, drives sales dollars but it’s the in-store sales that drive profitability.
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