Today’s retail industry is facing disruptions that are transforming the industry as a whole. The continued growth of e-commerce, the rise of subscription and home delivery services and the increasing use of mobile commerce is forcing retail marketers to rethink how they market, engage and sell products to an increasingly connected consumer base.
The changes in consumer preferences, economic factors, technology and generational shifts have reshaped today’s retail landscape. These changes have allowed convenience stores to thrive, emerging as a top tier retail channel, illustrated by its revenue growth over the past few years.
In 2015 alone, in store sales rose by 5.8% making the $600 billion convenience store industry the fastest growing vertical in retail. Even more, c-stores now account for 34.2% of all U.S. retail revenue. This growth comes from consumers demanding increasingly fast, on-the-go shopping trips which creates a unique opportunity for c-stores and CPGs alike.
Today’s convenience stores provide a massive growth opportunity for CPGs because they pair well with the “get-in, get-out” mentality and they satisfy the urge to snack. C-Stores also present consumer shopping patterns that are much different than other, more traditional retail formats. With an average basket size of only 2.6 items and average value of $6.52, the c-store shopper must be engaged in new and different ways.
In order to capture the attention of c-store shoppers and drive them in-store, it’s important to understand who is shopping at c-stores and what they are shopping for. And with the average attention span lasting only 8 seconds, these shoppers are becoming more and more distracted every day, making it increasingly difficult to capture their attention.
This report is a summary of industry data and analysis that helps marketers not only understand the recent growth, but also provides insights into how to drive consumers in store. Download now to learn how to seize the opportunity presented by the convenience industry.