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1、Circana,LLC|For public use1U.S.C-StoreLandscape Q2 2024August 2024Retail Thought Leadership Circana InspireCircana,LLC|For public use2 2Executive summaryThe convenience channel saw year-over-year dollar decline in CPG products for Q2 2024.Multi-outlet+(MULO+)increased modestly and outperformed conve

2、nience in many of the top categories.Dollar decline for the convenience channel was driven by year-over-year decreases in units and trips per buyer.Total foodservice trips for the convenience channel also decreased year over year and were outperformed by QSRs.Average monthly fuel volume per buyer al

3、so declined year over year as the price of gas in the quarter remained relatively consistent with 2023.KEY TRENDSOPPORTUNITIES In Q2 2024,convenience channel dollar sales declined 1.2%YOY while MULO increased 2.0%,resulting in a YOY decrease of c-store dollar share of MULO+C,from 16.2%to 15.8%.MULO

4、also outperformed c-stores in unit sales for the quarter (-4.3%vs.-0.1%for MULO).Convenience saw negative YOY dollar sales for many top categories including cigarettes and beer.The convenience channel increased sales dollars YOY in packaged beverages(non-alcohol)and other tobacco(e.g.,smokeless toba

5、cco,cigars,papers,vaping,etc.),but MULO outpaced growth for both categories.Price per unit increased 3.2%YOY in c-stores and 2.0%in MULO for Q2 2024.C-store shoppers continued to trade down to lower-priced items to partially offset increased prices in many top sales categories,including cigarettes a

6、nd other tobacco products.Meal deals at QSR and convenience retailers remain an important lever for driving foodservice traffic as new deals and options are introduced.With average eater check well below QSR competitors,c-stores have an opportunity to promote value to win trips in foodservice.Conven

7、ience saw decreased trips per buyer and units per trip YOY in Q2 2024,but dollars per trip increased YOY due to growth in price per unit for the channel.Foodservice remained a key sales driver for many retailers in the convenience channel.Although total convenience foodservice traffic decreased 3%YO

8、Y in Q2,“food-forward”c-stores,including Caseys and Wawa,among others,increased traffic by 2%YOY.The quality of convenience store and mobile payment options saw the largest growth in importance YOY.Price and convenience remained the top reasons for choosing a fuel provider.Circana,LLC|For public use

9、3 3Circanas convenience scorecard shows gains in the number of stores,dollars,and units per trip,but fewer trips per buyer C-store channel performance relative to competition for critical drivers in Q2 2024Difference vs.=YOY%Chg.Conv-YOY%Chg.CompetitionFOODSERVICETRIPSFUELCPG%vs.YADiff vs.MULO+Dolla

10、r Sales-1.2%-3.2%Unit Sales-4.3%-4.2%Number of Stores+1.1%+1.3%vs.YADiff vs.QSRDollar Sales+2.0%+0.0%Traffic-3.1%-1.1%Average Check+5.0%+0.0%vs.YADiff vs.OmnichannelDollars per Trip+2.8%+2.8%Units per Trip-0.9%+3.1%Trips per Buyer-4.1%-5.2%vs.YA%vs.Q1Average Monthly Fuel Volume per Buyer(Gallons)-1.

11、6%+1.5%Circana Convenience ScorecardCircana,LLC|For public use4 4Circana,LLC|For public useU.S.C-store Landscape Q2 2024CPG4Circana,LLC|For public useCircana,LLC|For public use5 5The convenience channel saw negative YOY dollar sales and was outpaced by MULO+for the second consecutive quarterSource:C

12、ircana,POS,13WE June 30,2024The convenience channels dollar share of MULOC+was 15.8%in Q2 2024,a decrease from 16.2%in Q2 2023.Unit sales in MULO+remained even YOY.Convenience channel units decreased 4.3%in Q2 2024.Dollar Sales%vs.YA5.4%3.5%1.7%3.1%2.0%3.8%1.3%-0.8%1.3%0.2%-3.2%-3.0%-5.8%-4.4%-5.8%5

13、.5%4.8%3.9%1.2%-1.2%Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024MULO+Food DrugConvCircana,LLC|For public use6 6Circana,LLC|For public useC-stores outperformed MULO+in cigarettes but underperformed in other top categories in Q2Category Performance|Q2 2024 Dollar Sales%Change vs.YA*Top categories based on U.S.

14、convenience sales$in Q2 2024Source:Circana,POS,13WE June 30,2024Total U.S.Convenience Total U.S.Multi-outlet+-8%-6%-4%-2%0%2%4%6%8%HEALTH&BEAUTY CAREALTERNATIVE SNACKSOTHER DAIRY&DELISWEET SNACKSCANDYSALTY SNACKSOTHER TOBACCOBEERPACKAGED BEVERAGES(NA)CIGARETTESCigarettesPackaged Beverages(NA)BeerOth

15、er TobaccoSalty SnacksCandy Sweet SnacksOther Dairy&DeliAlternative SnacksHealth and Beauty Care6Circana,LLC|For public useCircana,LLC|For public use7 7Washington-3.7%+0.9%Wisconsin-3.8%+1.7%Alabama-4.1%+2.0%Vermont-4.2%+2.5%Minnesota-4.8%+0.9%The convenience channel underperformed MULO+in all regio

16、ns in Q2 2024*Based on Dollar Sales%Chg.vs.YANote:$Growth Index vs.MULO+=($%Chg.Conv/$%Chg.MULO+)*100;Source:Circana,Retail Advantage,13WE June 30,2024StateC-storeMULO+Wyoming+3.8%+2.6%South Carolina+1.2%+3.1%Rhode Island+1.1%+2.0%Massachusetts+1.1%+0.8%Mississippi+1.0%+1.6%Bottom 5Top 5Total Conven

17、ience Circana Standard Eight Regions Dollar Sales%Change vs.YA Q2 2024*Top and Bottom Dollar Growth States$%Chg.vs.YA,Q2 2024Regions(Conv.)$Sales(Billion)%Chg.vs.YA%Dollar Any Merch%$Any Merch Pt.Chg.$Growth Index vs.MULO+South Central$7.0+0.3%18.5-0.7+15California$3.6+0.2%18.8-0.2+18Mid-South$7.1-0

18、.3%17.6+0.0-13Northeast$7.3-0.8%14.8+0.7-79Southeast$8.3-1.8%18.2+0.3-80West$5.4-1.9%17.6+0.5-91Great Lakes$7.5-2.1%17.3-0.2-126Plains$4.2-2.3%17.1-0.1-17480 120 120Circana,LLC|For public use8 8Circana,LLC|For public useU.S.MULO+U.S.Convenience YOY price per unit growth remained consistent in the co

19、nvenience channel and outpaced MULO+in Q2Source:Circana,POS,13WE June 30,2024Average price per unit across the store%change vs.YAIn Q2,average PPU increased from$4.08 to$4.22 YOY in c-stores,while MULO+increased from$4.98 to$5.08.8.5%5.4%3.3%1.7%2.0%6.1%5.2%3.2%3.2%3.2%Q2 2023Q3 2023Q4 2023Q1 2024Q2

20、 2024Circana,LLC|For public use9 9Customers continued to opt for lower-priced products in c-stores in Q2 2024Circana Inflation MonitorSource:Circana,U.S.convenience POS,13WE June 30,2024-4%-2%0%2%4%6%8%10%Q22022Q32022Q42022Q12023Q22023Q32023Q42023Q12024Q22024AssortmentWhat the retailer makes availab

21、leMixWhat the customer purchasesCustomers are trading down to lower-priced products(mix)in many of the top sales categories,including cigarettes and other tobacco products.-15%-10%-5%0%5%10%15%20%OverallCIGARETTESOTHER TOBACCOPACKAGED BEV(NA)BEERCANDYSALTY SNACKSHEALTH&BEAUTYInflationAssortmentMixCi

22、garettesOther TobaccoPackaged Bev(NA)BeerCandySalty SnacksHealth&BeautyInflationWhat prices the retailer setsCircana,LLC|For public use1010Circana,LLC|For public useU.S.C-store Landscape Q2 2024FOODSERVICE10Circana,LLC|For public useCircana,LLC|For public use1111Foodservice trips to food-forward c-s

23、tores grew in Q2Fast casual QSR restaurants also performed positively in the second quarter.Source:Circana,CREST,U.S.,3 ME June 2024-10%-8%-6%-4%-2%0%2%4%Q2 2022Q3 2022Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Foodservice Trips%Change vs.YAQSRC-StoresDeclines among traditional QSRs drove traf

24、fic loss within QSR in Q2.Fast casual restaurants traffic grew 3%.Food-forward c-stores traffic grew 2%.Food-forward C-store definition:Caseys,WaWa,QuikTrip/QT,Kwik Trip/Kwik Star,Pilot Flying J/Pilot Travel Center,Sheetz,Cumberland Farms,RaceTrac/Race Trac,Kum&Go,Maverik,Royal Farms,GetGo,QuickChek

25、,Rutters Farm Store,Buc-ees-2%2%5%-3%2%5%TrafficDollarsAvg CheckQ2 2024%Change vs.YAQSRC-StoresFood-forward c-stores+2%Fast casual QSR+3%Circana,LLC|For public use1212Circana,LLC|For public useFood-forward c-stores drove strong growth in lunch traffic during Q2 Foodservice trips to c-stores by daypa

26、rtFood-forward C-store definition:Caseys,WaWa,QuikTrip/QT,Kwik Trip/Kwik Star,Pilot Flying J/Pilot Travel Center,Sheetz,Cumberland Farms,RaceTrac/Race Trac,Kum&Go,Maverik,Royal Farms,GetGo,QuickChek,Rutters Farm Store,Buc-eesDayparts are consumer-perceivedSource:Circana,CREST,U.S.,3 ME June 2024 vs.

27、YAC-store Daypart Traffic DistributionTraffic%Chg24%26%16%34%-1%1%-8%-5%Morning MealLunchDinnerP.M.SnackTop 5 growing foods at lunch:PizzaCheeseburgersCandy/Candy BarsBreaded Chicken SandwichesTurkey SandwichesCircana,LLC|For public use1313-3%-5%0%-2%-1%1%-8%-5%Morning MealLunchDinnerPM SnackDaypart

28、 Traffic%Chg.QSRC-storesC-stores outperformed QSRs at lunch,led by a large uptick among food-forward c-storesC-stores vs.quick-service restaurant daypart comparisonDayparts are consumer-perceivedSource:Circana,CREST,U.S.,3 ME June 2024 vs.YAFood-forward C-store definition:Caseys,WaWa,QuikTrip/QT,Kwi

29、k Trip/Kwik Star,Pilot Flying J/Pilot Travel Center,Sheetz,Cumberland Farms,RaceTrac/Race Trac,Kum&Go,Maverik,Royal Farms,GetGo,QuickChek,Rutters Farm Store,Buc-eesFood-forward c-stores:+9%All other c-stores:-1%Circana,LLC|For public use1414Consumers have kept up their penchant for chicken,and c-sto

30、res share shows theres a lot of growth opportunityGrowth in and popularity of chickenC-store share of QSR+C-StoresSource:Circana,CREST,U.S.,3 ME June 2024+10%vs.2019+1%vs.202420%3%TrafficServings of ChickenChicken at QSR%Chg vs.YAC-stores are not getting their fair share of chicken DriversChicken wi

31、ngsMexican foods with chickenQSR chicken restaurants+3%+11%+8%C-Stores ShareCircana,LLC|For public use1515Circana,LLC|For public useIn summer 2024,big QSR chains pivoted to meal deals with price incentives4/85/206/106/11KFC Taste of KFC DealsWendys$3 Breakfast BundlePopeyes$6.99 Big Box MealJack in

32、the Box Munchies$4Starbucks Pairing Menu5/296/176/186/206/256/276/247/17/47/8Burger King$5 Your Way MealWendys$5 Biggie Bag w/free FrostyMcDonalds$5 Meal DealSubway Footlong DippersCarls Jr.2 for$6 MenuTaco Bell$7 Luxe Cravings BoxSonic$1.99 Value MenuDel Taco$2 and Value MenuArbys$9 Shake Up Your B

33、urger MealCircana,LLC|For public use1616-2.0-1.5-1.0-0.50.00.51.0Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Top Box Satisfaction:Good Value for the MoneyPt.Chg.Vs.YASatisfaction with value is on the rise at QSRsSource:Circana,CREST,U.S.,3 ME June 2024QSR(excl fast casual)After several quarters of dec

34、lining satisfaction with value,QSRs increased in Q2 2024,putting additional competitive pressure on c-stores.Circana,LLC|For public use17Circana,LLC|For public use17C-stores have a strong play in valueStill,the cost of a c-store meal is just over$3 less than a QSR meal.Source:Circana,CREST,U.S.,3 ME

35、 June 2024$9.54$6.46Average eater check when both food and beverage are includedQSR(excl.fast casual)C-StoresCircana,LLC|For public use1818Circana,LLC|For public useU.S.C-store Landscape Q2 2024TRIPS18Circana,LLC|For public useCircana,LLC|For public use1919-12.0%-10.0%-8.0%-6.0%-4.0%-2.0%0.0%2.0%4.0

36、%6.0%8.0%OMNICHANNELCONVENIENCEFOODDRUGDOLLARCLUBMASSXTrips per BuyerUnits per TripDollars per TripC-stores decreased trips per buyer and units per trip year over year in Q2 2024Channel Performance|Q2 2024%Change vs.YASource:Circana,Consumer Receipt Panel,data NBD adjusted,Rolling 13 WE June 16,2024

37、,total store excluding freshConvenience and drug channels saw the most significant decrease in trips per buyer YOYUnits per trip decreased YOY for all channels in Q2Circana,LLC|For public use2020Circana,LLC|For public useU.S.C-store Landscape Q2 2024TRAVEL&FUEL20Circana,LLC|For public useCircana,LLC

38、|For public use2121Average monthly fuel volume per buyer decreased year over year in Q2 2024,from 56.0 to 55.1 gallonsSource:Circana,Motor Fuels Index,Total U.S.55.150.052.054.056.058.060.0Q1 2022Q2 2022Q3 2022Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Average Monthly Fuel Volume Per Buyer(Gal

39、lons)Average Number of Gallons X Average Number of VisitsCircana,LLC|For public use21Circana,LLC|For public use2222Circana,LLC|For public usePrice and convenience remained the top reasons for choosing a fuel provider Source:Circana,Motor Fuels Index,Total U.S.12 Months ending June 202458.448.932.125

40、.425.311.710.37.66.7Reasons for Purchase(%Buyers)13.67.010.86.46.83.75.20.63.0Buyer Share%Change YOYQuality of convenience store and mobile payment options have seen largest growth in importance YOY.Convenient location Price of fuelIts a brand I trustDiscounts/rewards program Quality of fuel Good cu

41、stomer service Quality of on-site convenience storeAppearance of station Accepts mobile payment Circana,LLC|For public use2323Circana,LLC|For public useU.S.C-store Landscape Q2 2024Outlook and Actions23Circana,LLC|For public useCircana,LLC|For public use2424Circana,LLC|For public useConsumer sentime

42、nt improved despite 2.2%food inflation in JuneSources: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;USDA ERSThe food category experienced a 2.2%inflation increase vs.YA.The food-at-home CPI was 1.1%

43、higher than YA,and the food-away-from-home was 4.1%higher than YA.2.2%U.S.consumer sentiment rose to 68.2 in June 2024 from a preliminary reading of 65.6,and above market expectations of 65.8.However,nearly half of consumers are still concerned about high prices and economic uncertainty persisting a

44、s an upcoming election looms.68.2 8.58.38.27.77.16.56.46.05.04.94.13.03.23.73.73.23.13.43.13.23.53.43.33.00.01.02.03.04.05.0Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24Inflation

45、Gasoline Price(Dollars/Gallon)Circana,LLC|For public use2525Circana,LLC|For public useCustomer trend outlook and actions for c-store retailersTrendOutlookActionsCircana can helpChickens popularity has increased in the QSR channel.Mexican and chicken restaurants are driving growth.The convenience cha

46、nnel decreased in trips per buyer YOY in Q2.The dollar channel showed a YOY increase.After a slight YOY increase in Q1,average monthly fuel volume per buyer decreased YOY in Q2 2024.C-stores have an opportunity to compete with QSRs and gain share of total chicken servings.The dollar channel is likel

47、y to continue to be a significant c-store competitor as consumers look to trade down to lower-priced products.The quality of convenience store and mobile payment options will continue to increase in importance to shoppers when deciding where to purchase fuel.Uncover foodservice trends in your market

48、 and ensure your offerings align with consumer demand.Identify retailers and operators with the highest share of wallet for your shoppers to better understand the full competitive landscape for your stores.Determine key purchase motivators among brand loyalists to help attract and retain core custom

49、ers.Circanas CREST data can identify foods with the greatest opportunity for share growth in your market and be leveraged to capture trips from competitors.Circanas Complete Consumer Receipt Panel can uncover consumers purchasing and consumption trends across channels.Circanas Motor Fuels Index solu

50、tion can help you understand the demographics and purchasing behaviors of your core customers and identify new customer segments in your marketing areas.Circana,LLC|For public use2626Circana,LLC|For public useCircana solutions Learn more about how the solutions in this report can support your busine

51、ss.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 diagnose whether ch

52、anges in average price are true inflation,mix shifts,or assortment.The largest census-based POS coverage of CPG core channels.MULO+Best-in-class item classification and on-the-fly alignment to market measurement sales trends to understand omnichannel purchasing.Circana Receipt Panel26Circana,LLC|For

53、 public useMotor Fuels Index A monthly online survey of consumer purchasing of motor fuels/gasoline that can be used to improve brand management by benchmarking performance to industry and top competitors.Circana,LLC|For public use27Circana,LLC|For public use27Want 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 use28Thank you