The convenience store segment has transformed itself in recent years, as many of the category’s leaders have elevated their food, beverage and experiential offerings. Today’s convenience stores are often destinations, offering affordable convenient groceries and takeaway, according to an analysis from Placer.ai.
Monthly visits to convenience stores exceed the segment’s pre-pandemic baseline, the analysis found. Traffic in November of 2024 was 16.1% higher than traffic in November 2019. However, growth has plateaued more recently, with flat year-over-year traffic throughout 2024 and November visits down 0.9%, said the firm.
Many category leaders are outperforming the wider segment, including Circle K, Kwik Trip, Maverik and Buc-ee’s. These chains are seeing impressive year-over-year growth thanks largely to aggressive expansion strategies. Maverik’s growth is likely due to its acquisition and rebranding of the Kum & Go brand, said Placer.ai.
Each of these chains is growing in different parts of the country, Placer.ai’s data shows. Maverik is seeing the most growth in the Southwest, while Kwik Trip is performing well in the Midwest and Wawa traffic is growing in Florida and the Mid-Atlantic region, according to the analysis.
“This suggests that demand for c-store offerings is growing nationwide – despite the plateauing of category-wide visits – and that c-store brands that can offer consumers innovative products and experiences are well-positioned to continue thriving in 2025 and beyond,” said the report.