RNCOS, an industry research firm for major industry sectors, has found that the growing working population in the U.S. is boosting the sales at convenience stores.
RNCOS recently released its report “U.S. Convenience Stores Market Outlook to 2013,” which shows despite being the major victim of the economic slowdown, the convenience store industry has seen a moderate sales growth of more than 8% in 2008 compared to 2007.
The report shows the U.S. convenience store industry is growing positively at a time when all other industries of the world are facing the downturn. The reason seems to be than an increased working population has lead to busier lifestyles, which is driving consumers to try to save time in everything. Besides conserving time, convenience stores provide convenience in shopping. With the increasing commuting and travel time, many consumers are looking for ways to minimize the effect of this on their leisure time by multi-tasking while traveling. Therefore, convenience stores have benefited a lot as consumers are increasingly willing to shop, eat and drink while on-the-go.
The report further anticipates that the working population in the U.S. will cross the 150 Million mark by 2012, which will increase the demand for c-stores.