Two-thirds of convenience retailers report that sales are up year-over-year and are optimistic about continuing the trend through the rest of 2023, according to a member survey conducted by the National Association of Convenience Stores. The NACS Member Survey polled 170 retailers.
NACS’ industry metrics database corroborates the findings: through the first six months of 2023, in-store sales were up 9.4 percent compared to the same period in 2022. Twelve percent indicated that sales are lower.
Retailers are bullish about the convenience channel’s success for the rest of the year. One-third of convenience retailers said that convenience stores were best positioned for success over the rest of 2023, followed by online retailers (32 percent), and dollar stores (14 percent).
Convenience retailers, however, are still grappling with concerns of their own. Despite historically low unemployment, 44 percent indicated that the labor shortage is their top concern for the year, followed by inflation, credit card swipe fees, and government regulation.
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