Convenience Stores Hit a Snag

TODAY’S STORY

Americans are stopping for gas but aren’t going in for snacks.

According to Circana, U.S. convenience store sales volume declined by 4.3% in the year ending February 23 as rising prices impacted consumer purchases. Inside sales—covering all in-store purchases—account for over one-third of total convenience store revenue.

Among snacks, the biggest fallers were:

• Rice cakes, followed by dips, nuts, and jerky

• Refrigerated products dropped ~7% in sales volume

• Chocolate candy fell by 6%

Brands are adapting to the new retail environment at convenience stores in various ways. Hershey aims to increase sales at over 40% of its convenience-store customers with its "gold standard planogram," a data-driven strategy that optimizes shelf placement, including the ideal balance of king- and standard-size candy bars for each store. The chocolate manufacturer is also boosting marketing for core convenience-store brands such as Heath, Almond Joy, and Mounds.

The one item that convenience store shoppers are still in on? Lottery tickets.

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