Convenience stores offer quick purchases of basic items like food, drinks, lottery tickets, and household products. Customers value the convenient locations and 24/7 hours. These stores target busy people wanting fast service and meet immediate needs by stocking less variety, allowing the purchase of small quantities at higher prices. Customers pay extra for the convenience of location and hours because it offers value.
Additional Services and Comparison with Grocery Stores
Some convenience stores offer more products like coffee shops, sitting areas, emergency services, ATMs, and restaurants. Convenience stores focus on fast purchases, while grocery stores have more variety and bulk items for weekly shopping.
Industry Statistics and Trends
Convenience stores bring in over $400 billion revenue yearly, with inventory management and clean bathrooms contributing to successful operations. The number of U.S. convenience stores has increased as they remain a popular retail option typically selling 500-1,500 items in 800-5,000 square feet. Buc-ee’s convenience store chain is notable for its clean bathrooms, variety of products, and customer service.