Vending

Convenience services posts Q1 growth despite COVID-19

Logo provided.

July 20, 2020

The U.S. convenience services industry experienced Q1 growth despite the coronavirus, according to the Convenience Services Industry Impact tool released at the National Automatic Merchandising Association's first virtual advocacy summit. This research provides an accurate, detailed baseline for future comparison as the overall economy — including the convenience service industry — continues to experience shifts in revenue and employment projections due to the coronavirus, according to a press release.

The industry has a total economic impact of nearly $31 billion, according to the survey conducted by John Dunham & Associates and funded by the NAMA Foundation.

"This data arms the industry with an important perspective to share with elected officials, investors and other stakeholders," Carla Balakgie, president and CEO, said in the press release. "Prior to COVID-19, the industry had grown substantially — providing an economic impact of more than $31 billion dollars per year. That's up nearly 20% from the most recent data in 2018."

The industry provides 159,000 good paying jobs, representing $9.4 billion in wages and contributes over $3.6 billion in taxes at every level of government.

The Convenience Services Industry Impact tool allows users to see the industries iTpact at the state or Congressional district level. The data will provide reliable numbers on jobs, direct and secondary economic impact and location of member industry companies.