2024 might prove to be a better year for c-store sales than many had anticipated.
As this month’s Category Management Handbook points out, recession fears have quieted, and inflation appears to finally be on a downward trend. The economy and customer sentiment are looking up, and category dollar sales are flying high, thanks to a boost from price increases.
Still customers are feeling the continued effects of ongoing price hikes. While prices may be rising at a slower rate, they are still much higher than they were before the COVID-19 pandemic arrived. Retailers are leaning into category innovation as they look to grow unit sales in 2024.
At a glance, energy drinks are standing out in the beverage category for big gains in both dollar and unit sales, based on market research firm Circana’s Total U.S. Convenience data for the 52 weeks ending Dec. 31, 2023.
Salty snack segments also saw consistent dollar and unit sales increases during the same period despite price jumps of around 10%. Overall, c-store retailers and experts alike pointed out that customers today are interested in novelty and innovation, whether it’s a trendy new flavor, functional attributes or interesting taste experiences.
Category Leadership Awards
C-store categories couldn’t drive sales without the careful planning of the category managers that run them. This month’s Category Management Leaders feature highlights two category managers — Brian Nuzum and Jesse Dix — who are standing out for the superior execution of their categories.
As the senior category manager for hot and cold foods at Casey’s, Nuzum, who is featured on our cover, works across departments to build collaborative teams, spearheads new launches, leads the hot and cold foods team and, most importantly, brings innovative offerings to life for hungry customers. Dix, a category manager for Dandy Mini Marts, has keyed into emerging trends for the tobacco category and capitalized on the continuously expanding next-generation items in the segment.
Young Executive Talent
In order to ensure ongoing success for years to come, c-store retailers need to prepare next-generation executives so they can be ready to step up to lead in the years ahead. NAG Convenience’s Young Executives Organization (YEO) is a group where young executives under 40 in the c-store industry can network with peers and gain crucial leadership training to prepare them for the tasks ahead. This year, YEO’s conference, “CStoreMomentum,” is set for Sept. 18-20 and is hosted in partnership with Yesway. Yesway will give an up-close look at its c-store operations and will host the conference sessions at the Texas Motor Speedway, where it has recently opened two Allsup’s locations.
CStoreMomentum is a member-only event. Attendees must be part of a company with a current NAG membership or be a 2023 40 Under 40 inductee. To learn more about how to register visit cstoremomentum.com.
And now, we hope you enjoy this year’s Category Management Handbook. In the handbook, we zero in on 29 core c-store categories, sharing key data, trends and firsthand accounts of convenience store retailers about what they’re seeing in their stores across categories to help you make decisions in the year ahead.