ATLANTA -- Sales in convenience stores have remained strong in 2016, but coming off two historic years of sales—during which the industry saw record pretax profits of up to $10.6 billion—Leroy Kelsey, director of industry analytics for NACS, offered three strong cautions for retailers, especially smaller independents as the industry enters the fourth quarter.
“In 2015, [gasoline] prices were stickier than usual, … and the average household saved $700,” Kelsey said during a NACS Show workshop titled Where Is the Industry Going and What Does It Mean for the Small Retailer? “As a result, they spent more; they drove more.”
This year is a little different, leading Kelsey to offer these warnings …