SAN FRANCISCO — As convenience stores are deemed essential by the U.S. Department of Homeland Security and stay open in the face of the coronavirus, data analytics firm Skupos is poring over scan data to study the virus’ impact on c-store sales.
“We believe that with access to better data, businesses are able to adapt to change. Especially in these unsettling times, the more information, the better. We’re striving to provide c-store owners with the data that they need to stay informed, understand trends and react to changes in the market,” Skupos said in a blog post.
The data analytics company will continue to provide updates on the effect of COVID-19 on the industry in the coming weeks. In the meantime, click through for a rundown of Skupos’ findings so far …
Mind the gap
Skupos said that 2020 started with slight revenue declines in both fuel and in-store sales, but sales started to bounce back during the week of Feb. 17 at an average rate of $576 per week. Additionally, the gap between fuel and in-store sales began to lessen at that point.
Stocking up on fuel
Fuel customers may be filling up less often as they practice social distancing, but they’re purchasing more gas per visit, according to Skupos. The analytics firm saw a 10% increase in gallons per visit per week from early January to mid-March. Skupos said consumers filled up their tanks with 4.6% fewer total gallons per visit this time last year.
Dollars per beer visit
Similar to fuel sales, consumers are spending more on beer per visit even as total store visits lessen. Skupos said consumer spending on AB InBev and Molson Coors products per visit has increased by 4.7% and 5.2% respectively.