Convenience stores are performing well in the US grocery trade with sales growing 4.9 per cent in the year to August 4, compared to 3.7 per cent growth for the marketplace, according to global research company Nielsen.
Consumers purchasing on-the-go meals and grocery items such as fresh produce has led to a sales boost for C-stores across the US.
grocery items like yogurt and fresh produce have increased revenue for the sector. Sales of yogurt jumped 57 while sales of fresh produce rose 38 per cent in the year to August 4.
Promotions are a key factor for growth in the convenience sector with consumers responding strongly to offers; a 14 per cent growth was recorded in promoted unit sales, more than four times greater than non-promoted sales. C-stores collaborating with brands also means more effective promotions and partnerships.
Agreements between C-stores and other stores and brands were shown to assist growth in convenience. Product displays grew by 30 and 27 per cent over the timeframe. Items sold with temporary price reductions led to 8.1 and 11 per cent growth for similar time periods in 2011 and 2012. Competitior monitoring also helped to drive retail price intelligence at convenience shops over the 12-month period.
There are now 148,764 convenience stores operating in the US, according to Nielsen. (15 Oct)
© 2012 Profitero
About Profitero
Pricing intelligence company Profitero provides retailers with actionable price intelligence data, monitoring over 50 million products across 4,000 eCommerce retailers every day, observing pricing, promotions and stock availability. We work with the world’s leading retailers, enabling them to acquire new customers and grow profit margins by monitoring and responding to changes in competitor pricing and promotional activity as they happen. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email sales@profitero.com
