Macroeconomic trends in the U.S., including inflation, summer travel, and workers returning to the office, all affected convenience store sales in Q3. How did growth compare to all multi-outlet channels (MULO), and what is the outlook for the rest of 2023?
- Convenience channel dollar sales growth outpaces all channels for the second consecutive quarter.
- Surveyed shoppers said they are purchasing fewer items because of higher grocery prices.
- High-income shoppers continue to make up the smallest percentage of total shoppers in the convenience channel but have increased in recent quarters.
- Travel intent for the holiday season is on par with 2022, but inflation anxieties may mean consumers opt for road trips over flights.