New Market Report is Bullish on C-store Industry

  • New Market Report is Bullish on C-store Industry

    The new RNCOS “U.S. Convenience Stores Market Outlook to 2013” report states that the U.S. Convenience Store industry is likely to grow steadily in the next four years. This healthy outlook is largely due to the steady increase of the size of the population who are 15-64 years of age, a population concerned with convenience shopping.

    According to the new research report, sales in the convenience store (c-store) industry grew an impressive 8% in 2008 and made up approximately 14% of total US retail sales.

    In 2009, the c-store industry struggled along with the whole US Retail industry, due to weak consumer spending and a drop in fuel prices. But in late 2009, c-stores seemed to bounce back, and the report states that in 2010 industry sales will be healthy, outpacing the country’s overall retail sales growth.

    The c-store industry grew just over 54% in 2008 over 2007 to a total of $5.2 Billion. The total c-store sales number is split between motor fuel sales of 72% and in-store sales of 28% during 2008.

    That means the US Fuel Manager is overseeing $3.74 Billion in total sales. This kind of responsibility demands software technology that can allow fuel pricing decisions to be implemented quickly, without risk of human error. It’s simply too big a job to be managed with homegrown spreadsheets.

    Thankfully, the Fuel Pricing software category has come of age, making available information that is impossible to glean from spreadsheets. And with Fuel Pricing software like PriceAdvantage from vendors like Skyline Products, Fuel Managers can react quickly to dynamic market conditions and maximize their revenue potential on a store by store basis.

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