NIQ and NACS have released the Q1 2023 global convenience retailing industry report, which provides industry-leading data, macro trends and analysis for 32 countries in North America, Europe, Asia-Pacific and Central and South America. Download the free report.
“We are delighted to begin our second year of one of our newest partnerships with NIQ, our quarterly report of sales and trends from dozens of countries around the world,” said Henry Armour, NACS president and CEO. “In an increasingly global market, trends—whether opportunities or threats—quickly can spread across the world. These reports provide you with one more tool to help you not only prepare for the future but also help you define it.”
Highlights of the report include:
- In Q1 2023, convenience stores in all but one country (South Korea) experienced gains in sales versus a year ago.
- Sixteen countries saw growth between 10.1% (Spain) and 126.5% (Argentina), with seven of those in Latin America, five in Europe and four in the Asia-Pacific region. Argentina’s sales growth was driven by inflation topping 110% annually.
- Most countries (22 of 32) saw larger growth in Q1 2023 than Q4 2022.
- In the United States, convenience store promotion support grew by 6.0% in the quarter, while support increased 3.9% elsewhere.
“While the overall trend remains positive, certain categories are experiencing varying degrees of success, influenced by the local environment, which can subsequently impact business operations,” said Tracey Massey, CEO, NIQ. “We sincerely hope these insights will prove valuable to operators across the globe as they strategize and plan for the remainder of this year.”
There are more than one million convenience stores globally. The Q1 2023 NACS Global Convenience Store Industry Report uncovers global opportunities and challenges and contributes to a global understanding of trends impacting individual trade areas for the global convenience store industry.