Brightfield Group released “CBD: FDA Impact & the Path Forward” — its 2022 mid-year U.S. CBD report. It includes forecasts for two scenarios — with and without Food and Drug Administration (FDA) regulation — to help prepare clients for what to expect if FDA guidance delays continue and for changes in the market that would…
CBD Pet Products Market Set to See Growth in the Future
Research and Markets has predicted that the CBD pet products market is due to see significant growth in the coming years, with a predicted CAGR of 12% from the forecast period of 2022-2027. During the COVID-19 pandemic, the market studied did not experience any negative consequences. Instead, the sales increased. As there were no new…
Consumers Spend on Leisure While Prices Rise for Essentials
U.S. consumer retail spending — excluding automative — increased by 9.5% year-over-year (YOY) in June, while retail sales — without factoring auto and gas — rose 6.1% YOY, according to Mastercard SpendingPulse. Rising prices for necessities such as food and fuel were a contributing factor, as Mastercard SpendingPulse reflects nominal spending and is not adjusted…
Gen Z Restaurant Usage Differs From Previous Generations
The NPD Group has released a report that shows Generation Z is not following trends that have occurred in previous generations when it comes to restaurant usage. Historically, the heaviest restaurant usage stage occurs from the ages 18-24, which is currently where the oldest among Gen Zers are situated. Two decades ago, when Gen Xers…
C-Store Investments into Foodservice Prove to be Beneficial
Last month, Bluedot surveyed 1,570 American consumers and released the first Convenience Experience Report that explores consumer sentiment and the customer experience at gas stations and c-stores. The inaugural report explores how consumers think about c-stores and gas stations and what drives their behavior, preferences and loyalty. The findings offer a glimpse into the current…
Retailers Report Decreased Customer Traffic
A new survey released by NACS revealed that over the past three months, 59% of retailers said their customer traffic has decreased in stores, likely in large part due to high gas prices. Convenience stores, which sell an estimated 80% of the fuel purchased in the U.S., rely on in-store sales, not fuel sales, to…
Industrial Hemp Market Projected to Grow
Research and Markets recently added industrial hemp data to its offerings, as the company shares its predictions for the industry from 2022-2027. The growing acceptance of industrial hemp in numerous industries, coupled with the loosening of strict rules, has increased the market value. Furthermore, innovation and development of new products also expand the market prospects.…
C-Store Workshops for Store Managers
BandyWorks is launching c-store workshops for store managers. Store managers are the single most manageable factor in c-store results once the store investment is made. The workshop addresses employee retention, loss prevention, customer service, inventory levels, store cleanliness, cash control, management pipeline and recruitment. C-Store Growth Mindset workshops are based on a field-proven, research-validated set of […]
Restaurant Visits Decrease in April 2022
As a result of increased pricing of a foodservice meal over the past few years, The NPD Group reported that there was a 4% decline in consumer visits to U.S. restaurants this April compared to a year ago. Factors that contributed to this decline include food inflation, rising costs and a 9% increase in the…
NACS Releases C-Store Performance Data
The resiliency of the U.S. convenience retailing industry was amplified in 2021, and the year’s total in-store sales increased to a record $277.9 billion, according to newly released NACS State of the Industry data. The in-store increase in sales came despite a 1.5% decline in the number of convenience stores, which totaled 148,026 stores at…