1、Circana,LLC|For public use1U.S.C-StoreLandscape Q1 2024May 2024Retail Thought Leadership Circana InspireCircana,LLC|For public use2 2Executive summaryThe convenience channel saw dollar growth in Q1 2024,including outpacing other multi-outlet(MULO)channels in many top categories,but lagging MULO grow
2、th in total store.Convenience had a higher year-over-year increase in price per unit in Q1,while MULO had better performance in year-over-year units sold,driving the difference in total store sales dollars between the two channels.There was growth in dollars and units per trip in convenience,despite
3、 declines in the number of trips versus year ago.KEY TRENDS IN Q1 2024SUMMER OUTLOOK In Q1 2024,1.0%convenience channel dollar sales growth did not keep pace with MULOs 2.5%growth,resulting in a slight decrease YOY of c-store dollar share of MULO+C,from 14.8%to 14.6%.MULO also outperformed c-stores
4、in unit sales for the quarter(-2.1%vs.+0.9%for MULO).Convenience outperformed MULO in YOY dollar sales in many of the top sales categories,including cigarettes and other tobacco products.MULO dollar sales outpaced c-stores for beer and candy.Price per unit increased 3.2%YOY in c-stores and 1.5%in MU
5、LO for Q1 2024,with both channels continuing to show signs of deceleration.C-store shoppers are trading down to lower-priced items to partially offset increased prices in many of the top sales categories,including cigarettes and other tobacco products.Promos and sweepstakes can be leveraged by conve
6、nience retailers and manufacturers to increase customer traffic during critical summer months.The PM snack daypart will continue to be a key battleground as many traditional QSR lunch/dinner chains increase store count and enter the snack market through innovation.In Q1 2024,private label sales decr
7、eased 0.9%YOY in convenience,while name brands increased 2.2%.Convenience was outperformed by food,mass,dollar,and drug channels in YOY trip growth;however,it was the only channel to see an increase in both dollars and units per trip.Foodservice remains a key emphasis for many retailers in the conve
8、nience channel.Although convenience foodservice traffic saw a YOY decrease of 5.0%in Q1,the channel outperformed QSR for the PM snack daypart with a 1%YOY increase.Circana,LLC|For public use3 3Circana,LLC|For public useU.S.C-store Landscape Q1 2024Sales Trends3Circana,LLC|For public useCircana,LLC|F
9、or public use4 48.1%5.3%3.4%1.5%2.5%5.7%3.8%1.2%-0.8%1.1%0.4%-3.1%-2.9%-5.7%-4.4%5.0%5.4%4.7%3.8%1.0%Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024MULO+Food DrugConvThe convenience channel saw YOY dollar sales growth but was outpaced by MULO in Q1Source:Circana,POS,13WE March 31,2024Multi-outlet(MULO)and food
10、channels saw YOY growth in Q1 2024,while the drug channel posted its fourth consecutive quarter of a YOY sales decrease.In Q1 2024,convenience channel growth decelerated for the third consecutive quarter.Units in the MULO and food channels increased slightly YOY while convenience channel units decre
11、ased 2.1%in Q1 2024.Dollar Sales%vs.YACircana,LLC|For public use5 5Circana,LLC|For public useThe convenience channel outperformed MULO in many top sales categories in Q1 2024Category Performance|Q1 2024 Dollar Sales%Change vs.YATotal U.S.Convenience Total U.S.Multi-outlet+-10.0%-5.0%0.0%5.0%10.0%15.
12、0%HEALTH&BEAUTY CAREALTERNATIVE SNACKSOTHER DAIRY&DELISWEET SNACKSCANDYSALTY SNACKSOTHER TOBACCOBEERPACKAGED BEVERAGES(NA)CIGARETTESCigarettesPackaged Beverages(NA)BeerOther TobaccoSalty SnacksCandy Sweet SnacksOther Dairy&DeliAlternative SnacksHealth and Beauty Care5Circana,LLC|For public use*Top c
13、ategories based on U.S.convenience sales$in Q1 2024Source:Circana,POS,13WE March 31,2024Circana,LLC|For public use6 6Circana,LLC|For public useThe convenience channel underperformed MULO in all regions except California in Q1 2024*Based on Dollar Sales%Chg.vs.YANote:$Growth Index vs.MULO+=($%Chg.Con
14、v/$%Chg.MULO+)*100;Source:Circana,Retail Advantage,13WE March 31,2024StateC-storeMULO+South Dakota+5.4%+4.2%Wyoming+4.4%+3.5%Mississippi+3.7%+3.9%Kansas+3.2%+3.9%Arkansas+3.1%+4.9%Bottom 5Top 5Total Convenience Circana Standard Eight Regions Dollar Sales%Change vs.YA Q1 2024*Top and Bottom Dollar Gr
15、owth States$%Chg.vs.YA,Q1 2024Regions(Conv.)$Sales(Billion)%Chg.vs.YA%Dollar Any Merch%$Any Merch Pt.Chg.$Growth Index vs.MULO+Plains$3.6+2.3%16.2+0.462California$3.2+2.2%19.1+2.0410South Central$6.5+2.2%17.4+0.782West$4.9+1.4%17.1+0.849Northeast$6.4+0.9%14.0+0.843Great Lakes$6.6+0.6%16.6-0.619South
16、east$8.0+0.1%17.4+0.35Mid-South$6.4-0.1%16.9+0.2-480 120 120Ohio-1.2%+2.8%Rhode Island-1.3%+3.1%North Carolina-1.4%+1.7%Virginia-2.1%+2.5%Maine-3.6%+3.9%Circana,LLC|For public use7-6%-6%-3%0%3%1%1%1%-1%3%2%3%0%1%-2%-2%-3%-5%Q1 2022Q2 2022Q3 2022Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Foodservice T
17、rips%Change vs.YAC-store foodservice dollars are up for the yearFoodservice traffic at both quick service restaurants(QSR)and c-stores was negative this quarter.Food-forward c-store definition:Caseys,WaWa,QuikTrip/QT,Kwik Trip/Kwik Star,Pilot Flying J/Pilot Travel Center,Sheetz,Cumberland Farms,Race
18、Trac/Race Trac,Kum&Go,Maverik,Royal Farms,GetGo,QuickChek,Rutters Farm Store,Buc-eesSource:Circana,CRESTQSRC-storesDeclines among sandwich and burger QSRs drove traffic loss at QSR in Q1 2024Food-forwardc-store traffic declined,although at a slower rate(-3%)vs.YA0%5%5%-3%3%7%-10%-5%0%5%10%TrafficDol
19、larsAvg CheckYE March 2024%Change vs.YAQSRC-StoresCircana,LLC|For public use8Midweek traffic positiveC-store traffic*gained momentum during the most popular days of the week for in-person work,an important segment for c-stores.Source:Circana,CREST,3ME March 2024 vs.YA;*Traffic is based on purchases
20、consumed within 6 hoursTuesday Thursday1%44%OF TOTAL TRAFFICFriday MondayC-store Foodservice Traffic YOY%Change-9%56%OF TOTAL TRAFFICCircana,LLC|For public use9 9Circana,LLC|For public useC-stores:daypart performancePM snack is a significant daypart for c-stores,the sole segment with positive perfor
21、mance in Q1.Dayparts are consumer-perceivedSource:Circana,CREST,3ME March 2024 vs.YAC-store Daypart Traffic%Change24%25%16%34%-9%-5%-7%1%Morning MealLunchDinnerPM SnackDriven by Tues.Thurs.65%of PM snack is afternoon snack,+2%;35%is evening snack,-2%C-store Daypart Traffic DistributionCircana,LLC|Fo
22、r public use10C-stores vs.QSR daypart comparisonC-stores outperformed quick service restaurants for PM snack daypart.-3%-1%0%-1%-9%-5%-7%1%Morning MealLunchDinnerPM SnackDaypart Traffic%ChangeQSRFood-forward c-store definition:Caseys,WaWa,QuikTrip/QT,Kwik Trip/Kwik Star,Pilot Flying J/Pilot Travel C
23、enter,Sheetz,Cumberland Farms,RaceTrac/Race Trac,Kum&Go,Maverik,Royal Farms,GetGo,QuickChek,Rutters Farm Store,Buc-eesDayparts are consumer-perceivedSource:Circana,CREST,3ME March 2024 vs.YAFood-forward:-1%Traditional:+1%Circana,LLC|For public use1114%9%5%3%1%1%1%QSR Bakery SnackQSR Gourmet Coffee/T
24、eaQSR Juice/SmoothieTotal QSRQSR Frozen SweetsQSR DonutC-storesLocation%Change vs.YA 2023 vs.2022There is more PM snack competition than everMany of the most popular restaurant channels for PM snack grew locations at a faster rate than c-stores in 2023;additionally,traditional QSR lunch/dinner chain
25、s are entering the snack market through innovation.Source:Circana,ReCount,Fall 2023Snack innovation among traditional QSR lunch/dinner large chains54%27%33%18%50%21%34%PM SNACK MIXof c-store foodservice visits are PM(afternoon and evening combined)Circana,LLC|For public use1212QSRConvenient location
26、I like it thereWanted a treatAlways/regularly go thereIn a hurryConvenient locationI like it thereWanted a treatHad taste/cravingWent for specific menu itemOpportunity to drive craveabilityPM snack customers cite some of the same reasons for visiting c-stores as QSR for PM snack but are more likely
27、to be loyal to the store or in a hurry.QSR is a bit stronger on craving-driven occasions.Dayparts are consumer-perceivedPrimary reason for visiting the restaurantSource:Circana,CREST,3ME March 2024 vs.YAC-storesTop 5 Reasons for Visiting PM SnackTop 5 Reasons for Visiting PM Snack12Circana,LLC|For p
28、ublic useCircana,LLC|For public use1313BurgersFriesMexican FoodsPizzaChicken NuggetsLate-night growth at QSRsOne in ten foodservice trips to c-stores occur during late-night hours,between 9:00 p.m.and 4:00 a.m.In the last year,QSRs outperformed c-stores.To best compete,c-stores should offer products
29、 with high preference during late-night hours.*Late night defined as 9 p.m.to 4 a.m.Source:Circana,CREST,12ME March 2024Late Night Traffic%Change vs.YATop 5 QSR Late-night Foods10%C-Stores:-5%QSR:8%Share of Late Night*C-store TripsCircana,LLC|For public use1414Circana,LLC|For public useU.S.C-store L
30、andscape Q1 2024Pricing14Circana,LLC|For public useCircana,LLC|For public use1515Circana,LLC|For public useU.S.MULO+U.S.Convenience Convenience price per unit growth outpaced MULO in Q1 2024Source:Circana,POS,13WE March 31,2024Average Price-per-unit Across the Store%Change vs.YA12.3%8.4%5.2%3.0%1.5%
31、6.0%6.0%5.2%3.2%3.2%Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024In Q1,average PPU increased from$4.09 to$4.22 YOY in c-stores,while MULO increased from$4.89 to$4.97.Circana,LLC|For public use1616Customers continue to opt for lower-priced products in c-storesCircana Inflation MonitorSource:Circana,U.S.conveni
32、ence POS,13WE March 31,20247.0%8.0%9.0%8.6%7.8%6.3%4.8%4.3%0.1%0.2%0.0%0.5%-0.3%0.4%0.3%0.0%-2.2%-1.9%-2.0%-3.2%-1.3%-1.5%-2.0%-1.0%Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024InflationAssortmentMixWhat the retailer makes availableWhat the customerpurchasesWhat prices the retailer
33、 setsCustomers are trading down to lower-priced products(mix)in many of the top sales categories,including cigarettes and other tobacco products,which have seen significant YOY increases in retailer prices(inflation).-6%-4%-2%0%2%4%6%8%10%12%OverallCIGARETTESOTHER TOBACCOPACKAGED BEV(NA)BEERCANDYSAL
34、TY SNACKSHEALTH&BEAUTYInflationAssortmentMixCigarettesOther TobaccoPackaged Bev(NA)BeerCandySalty SnacksHealth&BeautyCircana,LLC|For public use1717Circana,LLC|For public useName brands continue to outperform private label in sales dollars and units in convenienceBeer,wine,liquor,and tobacco categori
35、es excluded from totalsSales source:Circana,POS,WE March 31,2024Convenience channel private label YOY dollar sales growth continued to slow in Q1 2023 compared to Q4 2022.Private LabelNational BrandC-store YOY Dollar Growth9.8%5.4%3.4%2.2%-0.9%11.5%10.5%8.0%6.3%2.2%Q1 2023Q2 2023Q3 2023Q4 2023Q1 202
36、4Private label dollar share of total store in the convenience channel was 8.9%in Q1 2024,a decrease from 9.1%share in Q1 2023Name Brand17Circana,LLC|For public useCircana,LLC|For public use1818-15.0-10.0-5.00.05.010.015.0CLUBDOLLARMASSXDRUGFOODCONVENIENCEOMNICHANNELC-stores grew in dollars and units
37、 per trip,yet lagged other channels in product trips vs.YASource:Circana,Consumer Receipt Panel,data NBD adjusted,YTD WE March 31,2024,total store excluding freshAll Channels Q1 2024ConvenienceProduct Trips per Buyer%chg.vs.YAUnit Sales per Trip%chg.vs.YA Dollars per Trip%chg.vs.YA-2.3-2.5-1.3-2.57.
38、32.02.94.54.44.22.03.213 WE 07-02-2313 WE 10-01-2313 WE 12-31-2313 WE 03-31-24OmnichannelConvenienceFoodDrugMASSXDollarClubCircana,LLC|For public use1919Circana,LLC|For public useU.S.C-store Landscape Q1 2024Outlook and Actions19Circana,LLC|For public useCircana,LLC|For public use2020Circana,Inc.and
39、 Circana Group,L.P.|For public useConsumer sentiment improved despite 2.2%food inflation in March 2024Sources:U.S.Index of Consumer Sentiment,University of Michigans Consumer Sentiment Survey;CPI U.S.BLS;U.S.All Grades All Formulations Retail Gasoline Price;U.S.EIAThe food category increased 2.2%vs.
40、YA.Food consumed outside of the home saw a significant 4.2%rise in the same period,while food consumed at home only had a modest 1.2%increase.2.2%U.S.consumer optimism rose in January as the sentiment index increased by 9.1 points to reach 78.8.Despite inflation concerns,consumer sentiment remained
41、stable through Q1,with 79.4 recorded for March 2024.79.4Sentiment IndexMarch Consumer Food Consumer Price IndexMarch 2024 8.58.38.27.77.16.56.46.05.04.94.13.03.23.73.73.23.13.43.13.23.54.64.03.83.93.73.33.43.53.53.73.63.63.73.93.93.73.43.23.23.33.50.00.51.01.52.02.53.03.54.04.55.0Inflation Gasoline
42、Price(Dollars/Gallon)Circana,LLC|For public use2121Circana,LLC|For public useCustomer trend outlook and actions for c-store retailersTrendOutlookActionsCircana can helpPM snack is an important daypart for c-stores and an area of innovation for the QSR channel.Customers are continuing to trade down t
43、o lower-priced products in many of the top sales categories as c-store retailer prices increase.Convenience experienced another quarter of YOY growth in per trip dollar and units,but trip frequency continues to decline.C-stores have an opportunity to compete with QSRs and gain share in the PM snack
44、daypart.While prices continue to increase at c-stores,changes in retailer assortment and customer mix will also have a large impact in YOY average price per unit changes.Although consumers are making more trips in other channels,their buy rate is declining YOY.Convenience could be the next channel t
45、o see spend and consumption trends shift.Understand your stores performance relative to the market and determine whether PM snack or another daypart should be a focus.Gain an understanding of true inflation and what is driving average prices to make the right price and promotion strategy decisions.D
46、evelop programs that could increase trips to the store without impacting consumer buying rates per trip.Circanas ReCountdata can detect trends in your market related to store counts based on type of food offered.Circanas Inflation Monitor tool can diagnose patterns and opportunities or concerns with
47、in average price changes.Circanas Custom Survey capabilities can help you understand consumers trip-planning behaviors,motivators,and ways to drive traffic into c-stores.Circana,LLC|For public use2222Circana,LLC|For public useCircana solutions Learn more about how the solutions in this report can su
48、pport your business.The most comprehensive source for monitoring consumer visits to commercial and non-commercial foodservice locations,for market share tracking across the total foodservice industry.CRESTAlwaysOn Analytics Inflation MonitorThe only source that quickly decomposes average price to di
49、agnose whether changes in average price are true inflation,mix shifts,or assortment.The largest census-based POS coverage of CPG core channelsMULO+Best-in-class item classification and on-the-fly alignment to market measurement sales trends to understand omnichannel purchasing.Circana Receipt Panel2
50、2Circana,LLC|For public useReCountCensus of actual unit counts of every restaurant,chain,and independent in the U.S.Circana,LLC|For public use23Circana,LLC|For public use23Want to learn more?Circana can help.Plus,registered users get new thought leadership from Circanas research,data,and analytics experts.Scan the QR code to subscribe or email us at: Circana,LLC|For public use24Thank you
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