Placer.ai: C-stores, especially regional ones, see visit gains in 2024
Convenience stores have seen increased year-over-year visits in 2024, emerging as a fast-growing retail sector.
That’s according to new data from retail analytics firm Placer.ai, which shows that convenience store visits increased notably in February (+2.5%), March (+1.8%), May (+2.2%), June (+1.5%) and August (+2.2%) of this year, while seeing small or marginal increases in visits in April and July. When compared to the Jan. 1, 2021 baseline, convenience stores have seen changes in monthly visits stay consistently above 20% for much of the past three years.
“Despite lapping a strong first half of 2023, visits to the category either exceeded last year’s levels or held steady during all but one of the first eight months of 2024 – highlighting the segment’s ongoing strength,” said Placer.ai content writer Bracha Arnold. “Only in January 2024 did C-stores see a slight year-over-year dip, likely reflecting a weather-induced exaggeration of the segment’s normal seasonality.”
Placer.ai’s data found that regional convenience chains have become fan favorites, and have seen increases in store visits this summer compared to 2023. Buc-ee’s saw its largest year-over-year visit increase of 2024 in May (+12.8%), while Sheetz (+10.5%) saw its largest increase in June, as did Wawa (+3.6).
National chain Circle K also had a strong summer, with visits rising every month from April to August, while 7-Eleven saw meager increases or decreases in visits during each month. Despite its lack of year-over-year visit growth, 7-Eleven saw a +127.3% increase in visits on Slurpee Day (July 11).
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Placer.ai also analyzed convenience store dwell times by state and highlighted substantial differences in visitor behavior. During the first eight months of 2024, coastal states (with the exception of Oregon) tended to see shorter average dwell times (between 7.5 and 11.8 minutes). On the other hand, in states like Wyoming, Montana, and North Dakota, average dwell times ranged between 21.2 and 28.2 minutes.
“The convenience store sector continues building on the impressive growth seen in 2023,” added Arnold. “As many chains double down on expanding both their regional presence and their offerings, will they continue to drive growth in the coming years?”
