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Issue Date: Vol. 57, No. 2, February 2017, Posted On: 2/2/2017

Convenience Store Industry Issues Optimistic Forecast For 2017

Hank Schlesinger
TAGS: c-store, National Association of Convenience and Fuel Retailing, NACS, Aloha Petroleum, Richard Parry, coin-op, bulk vending, ATMs

ALEXANDRIA, VA -- Convenience stores, traditionally high-volume locations for ATMs, bulk vending and coin-operated amusement devices, saw a surge in 2016 that is expected to continue in 2017. According to a study by the National Association of Convenience and Fuel Retailing, or NACS, more than two in three convenience retailers (68%) say fuel sales increased in 2016, and nearly the same percentage (63%) reported foodservice sales increased.

"The continued improvement of the economy and low gas prices gave our customers more confidence to buy inside," said Aloha Petroleum's Richard Parry (Honolulu, HI).

Retailer confidence about the U.S. economy also surged, NACS officials said. A record 79% of retailers say they are optimistic about the U.S. economy, a 26-point jump in enthusiasm over the last quarter. This boost mirrors the optimism of their customers. A record 60% of U.S. fuel consumers said they are optimistic about the U.S. economy, according to the NACS December consumer sentiment survey.

Founded in 1961, NACS represents 2,100 retail and 1,700 supplier companies that do business in nearly 50 countries.

Topic: Small Business News

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