NACS defines a convenience store as a retail business that provides consumers with a convenient location to quickly purchase a wide variety of consumable products and services, generally food and fuel.
While not fixed requirements, locations generally have the following characteristics:
- Building size of less than 5,000 square feet;
- Off-street parking and/or convenient pedestrian access;
- Extended hours of operation, with many stores open 24/7;
- Offer at least 500 stock keeping units (SKUs);
- Product mix that includes a significant selection of beverages, food, snacks, tobacco, candy and other grocery items.
For most retailers in the industry, inside sales from foodservice and merchandise generally drive profits.