Looking back at the U.S. convenience and fuel retailing industry in 2019, in-store sales increased 4.4% ($251.9 billion in 2019 vs. $242.2 billion in 2018), according to newly released NACS State of the Industry data that reflects a pre-coronavirus pandemic climate.
Total industry sales, which include $395.9 billion in total fuel sales, declined by 1.0% ($647.8 billion in 2019 vs. $654.3 billion in 2018), largely reflective of a 4.7% decrease in the price of fuel in 2019. Overall, total convenience store sales in 2019 were 3.1% of the U.S. gross domestic product of $21.4 trillion.
NACS State of the Industry data is released each year at the NACS State of the Industry Summit. Due to the current coronavirus pandemic, however, this year’s Summit was recast as a virtual, on-demand event at convenience.org/SOISessions that launched today for viewing. More than 1,300 attendees are participating in the virtual experience, which includes 10 educational sessions on topics such as analyzing 2019 industry performance, trends and economic forces as well as forward-looking topics such as how COVID-19 is changing consumers’ shopping behavior in ways that could shape long-term buying patterns.
Visit the NACS website for more State of the Industry insights released today, including the infographic, “Strong Operational Performance in 2019.” (PDF)
