ALEXANDRIA, Va. -- The convenience store industry had record sales of $700.3 billion in 2012, with in-store sales increasing 2.2% to reach a record $199.3 billion and motor fuels sales increasing 2.9% to a record $501 billion, according to the NACS State of the Industry Report of 2012 Data, a benchmarking tool and collection of industry and firm-level category data and trends based on the convenience and fuel retailing industry's 2012 performance.
Convenience store pretax profits reached a record $7.2 billion in 2012, but taken as a percent of total sales, profits only moved from 1.027% to 1.028% of total sales.
In-store sales growth was driven by double-digit sales gains in several subcategories: alternative snacks, which include meat snacks and health, energy and protein bars (12.2%), liquor, a relatively small subcategory (11.6%), cold dispensed beverages (11.3%) and sweet snacks (10.3%).
The industry's bifurcation also continues, with a considerable difference between top quartile and bottom quartile performers. Top quartile performers had hot dispensed profits that were 4.4 times greater than those of the bottom quartile, prepared food profits 2.4 times greater than the bottom quartile, cold dispensed profits 2.3 times greater than the bottom quartile and packaged beverage sales that were 2.3 times greater than the bottom quartile.
The annual NACS State of the Industry (SOI) Report is based on data submitted by actual retail companies participating in the NACS SOI Survey. Published since 1972, the report provides data in the critical categories of finance, store operations, merchandising and fuel sales. The data are also analyzed and presented in a comparative performance quartile format based on store operating profit, which allows retailers to benchmark and improve their own operations by understanding the drivers of key performance metrics.
The 180-page report also examines economic conditions and their potential impact on the industry. Charts and tables focus on every area of the industry's 2012 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. convenience store industry, with more than 149,000 stores across the country, posted $700 billion in total sales in 2012, of which $501 billion were motor fuels sales. NACS has 2,100 retail and 1,600 supplier member companies, which do business in nearly 50 countries.
Click here to view CSP's May NACS State of the Industry Summit Special Issue 2013, a first look at 2012 industry numbers, along with full coverage of this year's summit.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.