Chicago, IL, and Alexandria, VA — Thirteen countries experienced growth in convenience store sales during the first quarter of 2022 versus the first quarter of 2021, while 10 countries experienced sales declines, according to NielsenIQ and NACS’ inaugural global convenience retailing industry report. The reports is designed to provide industry-leading data, macro trends and analysis across 23 countries in North America, Europe and Asia-Pacific regions.
“With more than 1 million convenience stores globally, it is critical that convenience retailers and manufacturers who serve this industry are prepared for the future. This report uncovers the issues, opportunities, and challenges that exist globally, and contributes to a global understanding of trends impacting individual trade areas,” says NACS President and CEO Henry Armour.
Other highlights of this report include:
- Nine of the 13 growth countries were from the Asia-Pacific region, while European countries accounted for 8 of the 10 countries with sales declines.
- U.S. convenience stores, which sell an estimated 80% of the fuel purchased in the country, saw revenues per store per month increase 32% in Q1 2022 versus the same time period in 2021, largely a result of higher gas prices.
- Canadian convenience store dollar sales underperformed versus other retail channels (-0.8% vs. +2.1%).
- The U.K. fuel and forecourt industry continues to thrive, with sales (excluding fuel) expected to rise to £47.1 billion by 2024; sales now account for over one in five pounds spent on grocery items.
- In China, the three most significant convenience development trends are digitalization, food service, and e-commerce.
“The last two years have seen unprecedented disruptions across the global retail and consumer products industries,” says David Johnson, president, global retail for NielsenIQ. “With ongoing supply-chain issues, inflation, and shifting consumer behavior, robust data, analytics, and insights are critical to understanding the convenience channel market dynamics. Convenience retailers and brands must continue to adapt and intensify their focus on customer loyalty, digital transformation, supply-chain management, and collaboration to effectively meet the challenges the industry faces.”