1、Spring 2025Convenience Store and Car Wash Industry Update010203Convenience Store and Car WashExecutive SummaryConvenience StoreOverviewCar Wash OverviewTable of ContentsConvenience Store and Car WashExecutive Summary Recession Recession Recession Recession COVID-19Convenience Stores and Car Washes A

2、re Proving Their Resilience Yet Again in Challenging Economic Times Despite ongoing inflation,interest rate pressure,and consumer uncertainty,convenience stores and car washes continue to demonstrate resilience,maintaining demand through recent volatility.Both sectors are seen as nondiscretionary,wi

3、th c-stores replacing grocery trips during times of price pressure and car washes benefiting from consumers opting to maintain rather than replace their vehicles.Recessionary track records for both sectors highlight their durability,with historical performance remaining steady or even improving duri

4、ng broader economic downturns.While tariff and inflation exposure existsincluding on c-store merchandise,chemicals used in washes,and build-out materialsoperators have shown an ability to manage input costs without sacrificing volume.4Despite economic pressures,convenience stores(c-stores)and car wa

5、shes remain resilient,driven by non-discretionary demand and their ability to adapt to cost challenges.Macro Environment OverviewC-Store Recessionary Track Record(1)Car Wash Recessionary Track Record(2)CAGR:15%U.S.C-Store Inside Sales,USD BillionsCAGR:1%CAGR:3%CAGR:4%CAGR:5%Car Wash Sector Growth,In

6、dexed to Starting Year in Period100%95%99%102%2008200920102011Great Recession Performance100%99%128%142%2019202020212022COVID-19 Recession PerformanceSources:NACS;Federal Reserve Economic Data.Notes:(1)The CAGR above the grey recession boxes reflects inside sales CAGR during recession or COVID-19 pe