The convenience channel outpaced multi-outlet channels (MULO) for total store and all top sales categories in 2023. Price per unit increased higher in MULO year over year, but C-stores performed stronger in units sold. Looking ahead to 2024, C-stores have opportunities to improve customer experience by implementing changes to decrease checkout times and enhance loyalty programs.
Highlights:
- Price per unit increased 5.1% in the convenience channel and 6.9% in MULO year over year in 2023. C-store shoppers continued to opt for lower-priced items to offset increased prices.
- Foodservice remained an emphasis for many retailers in the convenience channel and grew 4.4% in dollars year over year, but it did not keep pace with QSR, which grew 6.7%.
- Convenience channel mergers and acquisitions made headlines in 2023. The trend will likely continue in 2024 with retailers acquiring new stores and expanding into new regions.
- Kiosk checkouts and e-commerce sales grew in 2023. In 2024, they can be leveraged by c-store retailers to improve customer experience by decreasing checkout time.
