How to Grow in Convenience Retail

NACS State of the Industry Summit session launches into how retailers can assess their costs and risks before deploying capital.

April 06, 2023

ALEXANDRIA, Va.—In less than two weeks, nearly 700 convenience retailers and supplier stakeholders will convene in Dallas, Texas—the birthplace of our industry—for the NACS State of the Industry Summit.

What do we mean by Dallas being the birthplace of convenience? If you guessed it’s home to 7-Eleven, you guessed correctly. Here’s the story: In 1927, ice houses selling ice blocks—the precursors to modern refrigerators—were open longer than grocery stores. It didn’t take long for “Uncle Johnny” Jefferson Green, who ran the Southland Ice Dock, to realize that customers needed staples like bread, milk and eggs after grocery stores closed. He began stocking these items and the rest, as they say, is history. The Southland Corporation eventually rebranded to 7-Eleven.

Now, envision how much has changed since 1927. Mergers and acquisitions, access to capital, ROI and cash flow, real estate, EBITA. The complexities of convenience retail today are a far cry from selling ice, milk, bread and eggs.

This year at the NACS SOI Summit, participants will be the first to dive into industry operational, financial and category benchmarks and trends. They’ll also be privy to a session that is sure to capture attention and break out the notepads: Battleships & Destroyers: Assessing Risk and Cost Before Deploying Capital.

As our industry continues to grow through mergers and acquisitions, as well as organic growth, two industry experts will walk the audience through the process of a growth assessment and the risk assessments retailers need to conduct before deploying capital into growth.

The session will be led by John Phelps, president and CEO of Carroll Independent Fuel/High’s of Baltimore LLC, and Spencer Cavalier, co-head of downstream energy and convenience retail at Matrix Capital Markets Group.

Held over two days, this year’s NACS SOI Summit is the only event where convenience retailers can gain access to industry data, trends, opportunities and headwinds on key focus areas of the business: finance, labor, store operations, merchandising and fuels.

Register today to join your industry peers in Dallas for the NACS State of the Industry Summit, taking place April 18-20 at the Hyatt Regency DFW International.

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