A growing appetite among consumers-on-the-go for the broader selection of food options and other grocery items offered at larger, modern convenience stores is fueling a wave of consolidation and new development in the often overlooked triple-net convenience store segment of U.S. retail.
The Association for Convenience and Fuel Retailing (NACS) reports the
number of c-stores in the country increased 0.2% in 2016 from the prior
year to 154,535, accounting for more than $575 billion in sales. While
roughly 80% of c-stores sell gasoline, lower gas prices have helped
bring in more foot traffic to convenience stores, with more drivers on
the road and stopping into the store during fill-ups to buy a growing
mix of merchandise.. . . more