New C-Store Foodservice Opportunities
Market segment generates approximately $11.2 billion annual sales
Comprising approximately 28 percent of retail foodservice and generating $11.2 billion in sales, proprietary convenience-store foodservice has become a key area of opportunity across the country. Technomic's Convenience Stores Market Intelligence Report compiles exclusive data to understand market opportunities.
As the segment continues to face stiff competition and works to overcome consumers' negative quality and freshness perceptions, Technomic anticipates nominal growth of about 2 percent in both 2014 and 2015 (2.5 percent in 2014; 2.0 percent in 2015), and after adjusting for inflation, the overall segment will be flat. Yet convenience stores serve as a prime destination for younger generations and people seeking fast, on-the-go options, and there are plenty of winning chains and opportunities for growth.
"As more c-store brands increase focus on offering a wider variety of fresh, high-quality foods and competition heats up across the segment, understanding the convenience store foodservice landscape has never been more important," says Technomic Senior Director Donna Hood Crecca.
Interesting findings from the Convenience Store Market Intelligence Report include:
• Breakfast sandwiches continue to thrive on c-store menus, and their numbers climbed 20 percent from Q2 2013 to Q2 2014.
• More than 9 out of 10 consumers say the most important elements are taste and flavor of the food and food quality.
• Energy drinks saw a significant surge in availability at c-stores, contributing to the category's nearly 23 percent growth in menu items.
The Technomic Convenience Stores Market Intelligence Report will guide operators, manufacturers and the industry at large to where these growth opportunities lie. From consumer behaviors and attitudes to trends in facility and technology upgrades, such as:
• Consumer Insights: As stores strive to gain a greater share of stomach and compete with restaurants, c-store operators must understand their customers—from daypart behaviors and attitudes to pricing and quality expectations
• Menu Analysis: Variety is the name of the game today at c-stores, and Technomic menu data spotlights the types of items that best characterize c-store foodservice offerings
• Concept Profiles: Understand the playing field with profiles of 50 leading convenience store chains, including concept and menu positioning, financial performance and corporate contact information.
The Convenience Stores Market Intelligence Report is just one element in a portfolio of Technomic products for and about c-store foodservice operators. Order the Convenience Stores Marketing Intelligence Report and learn more at Technomic.com or contact one of the individuals listed below.