THE CONVENIENCE STORE LANDSCAPE: Q1 2022

The Convenience Store Landscape: Q1 2022

SUMMARY


THE CONVENIENCE STORE LANDSCAPE: Q1 2022

Convenience channel growth slowed to 1.7% in Q1 2022, underperforming all other channels in IRI's coverage. Inflationary pressures and price/mix changes were the biggest drivers of this slowdown. Cigarettes and beer, categories representing 44% of total channel sales, declined substantially in sales and volume.

IRI's new report, "The Convenience Store Landscape Q1 2022," explores the latest trends in the convenience channel and the most promising opportunities for retailers in today's landscape.

Highlights:

  • Growth continues to slow in the convenience channel, with price/mix increasing substantially across all categories.
  • Non-alcoholic beverages, salty snacks and candy sales grew, helping offset declines in other categories.
  • Convenience store brands outgrew national brands and outperformed store brands in other channels. Further innovation in this area is a promising opportunity.
  • E-commerce growth continues as c-store retailers invest heavily in on-demand delivery of food and convenience essentials.
  • C-stores need to manage price/mix to prevent loss of shoppers and volume to value channels like mass and dollar.
  • Investments in securing supply of key products and in targeted promotions can help keep customers from switching out of store.
  • As consumers trade down to individual portions, adjustments in assortment and price-pack positions may create opportunities for the convenience channel.

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