According to a new report from foot traffic analytics firm Placer.ai entitled "C-store Trends & The Brands Leading the Way," visits to c-stores increased more than 60 percent over the last four and a half years.
Moreover, no brand dominates the industry. While national behemoths are forces to be contended with, the c-store market is a highly regional one, said Placer.ai, with room for smaller operators to find their niche.
Similar to grocery chains, convenience stores are a highly localized affair, with every region having its favorite go-to destination. Here's what the report found:
7-Eleven Inc. reigns supreme on the West Coast, as well as in Hawaii, New York, Colorado, Nevada and Washington, D.C.
Maverik — Adventure's First Stop, which positions itself as a prime destination for people engaged in outdoor activities, emerged as the local favorite in Idaho, Wyoming and Utah.
Cumberland Farms is the New England favorite.
Wawa Inc. dominates in Florida, Maryland, Pennsylvania, Virginia and New Jersey.
Several chains — including Sheetz Inc., Circle K and Love's Travel Stops, among others — top statewide visit rankings nationwide.
Additionally, Placer.ai found that members of different socioeconomic classes prefer different c-stores brands. For example, Maverik and Kum & Go generally cater to different economic groups, whereby wealthier customers prefer Maverik and those in lower-income households prefer Kum & Go. Recently, Maverik completed its acquisition of Kum & Go, expanding its operational footprint to more than 800 c-stores across 20 states.
Placer.ai stated that the rising popularity of c-stores is driven in part by inflation and enhanced foodservice offerings.
To download "C-store Trends & The Brands Leading the Way," click here.
Headquartered in Los Altos, Placer.ai is the first platform that fully empowers professionals in retail, commercial real estate, hospitality, economic development, and more to truly understand and maximize their offline activities.