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Convenience Stores & Truck Stops
First Research, March 2012, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US convenience store (c-store) and truck stop industry includes about 120,000 stores with combined annual revenue of about $355 billion. Major companies include 7-Eleven (the North American subsidiary of Seven-Eleven Japan), Circle K (a division of Canada-based Couche-Tard); and The Pantry. The industry is fragmented: the top 50 companies account for about 40 percent of industry sales.
The industry generally includes establishments that are gas station/c-store combinations, as well as c-stores that don't sell fuel. Gas stations that don't include c-stores are covered in a separate industry profile.
COMPETITIVE LANDSCAPE
Consumer and commercial driving trends drive demand. The profitability of individual stores depends on competitive pricing, effective merchandising, and the ability to secure high-traffic locations. Large companies have advantages in purchasing and finance. Small companies can compete effectively by acquiring superior locations or offering specialized merchandise or services. Average annual revenue per worker is about $450,000 for gas station/c-store combinations and $145,000 for c-stores without gas.
Because c-stores sell gas, food, and other types of merchandise, companies compete with a wide range of retailers, including gas stations, grocery stores, mass merchandisers, and warehouse clubs. C-stores that sell prepared meals also compete with restaurants.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products sold include fuel (about 75 percent of sales); groceries and cigarettes (about 10 percent each); and alcoholic beverages (3 percent). Fuel includes regular, mid-grade, and premium unleaded gas; and diesel fuel. Convenience stores with no fuel sales generate about 40 percent...
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