As we’ve covered in Street Fight, the C-store (convenience store) is a MULO (multi-location) category that is having a moment—a huge moment.
Formerly viewed as the corner bodega or the highway stop for gas, smokes, emergency items, a beverage, and a bathroom break, C-stores are starting to play a more prominent role in the retail landscape—on and off the road.
Not only does the category have a membership association and media dedicated to it, but polls are now tracking consumer sentiment about their “favorites.”
The C-stores that ranked in the top five, according to CSP Daily News (one of the many industry-specific media outlets), are:
- Buc-ee’s, 94.37 (Lake Jackson, Texas-based Buc-ee’s is No. 116 on CSP’s 2024 Top 202 ranking of U.S. convenience-store chains by store count.)
- Wawa, 90.08 (Wawa, Pennsylvania-based Wawa is No. 10 on CSP’s 2024 Top 202).
- QuikTrip, 89.6 (Tulsa, Oklahoma-based QuikTrip is No. 9 on CSP’s 2024 Top 202).
- Sheetz, 88.9 (Altoona, Pennsylvania-based Sheetz is No. 13 on CSP’s 2024 Top 202).
- Love’s Travel Centers & Country Stores, 86.9 (Oklahoma City-based Love’s is No. 16 on CSP’s 2024 Top 202).
Although the decision to shop at a C-store is probably driven more by convenience than other types of retail purchases, consumers are now building brand loyalty.
That is, in part, due to the focus these retailers are now giving to “experiences” and product/service array. Unless someone’s gas light is blazing red or they need to run out for diapers at midnight, they may be inclined to seek out stores that offers more than just fuel and a clean toilet.
And fuel today means more than gasoline. Many C-stores are installing EV chargers and partnering with a wide range of MULO food brands to offer C-store diners a range of options.
Here are other innovations that are changing the C-store landscape.
Savvy C-stores are optimizing their search presence to ensure that consumers can find the products and services they need when on the road. And true brand fans will be willing to drive an extra 15 miles (provided their digestive system isn’t too full or their gas tank/EV charge is too empty) to visit their favorite C-store retail brand.
Store sales have reached a whopping $860B and the average basket is close to $8. As brands start to offer more products, services, and dining options, we expect that number to grow.
Learn more about the retail categories that will dominate the next decade and what we can all learn from the C-store boom. Join us at Street Fight LIVE 2024.