Global convenience markets off to a positive start of 2024
Published on: Aug 12, 2024
23 of 32 reported countries experienced gains in value sales versus a year ago, according to the latest global report from NACS and NIQ.
Value sales across 23 of the 32 countries that are part of the global convenience report by NACS and NIQ have registered an increase during the first quarter of 2024.
According to the NACS/NIQ Q1 2024 Global Convenience Store Industry Report, eight countries experienced double- or triple-digit growth—up from seven in the prior quarter. The report measures convenience store value sales across several markets, including the United States, Canada, Latin America, the Asia-Pacific region, and Europe.
Five of these double- or triple-digit growth nations are located in Latin America, two in the Asia-Pacific region, and one in Europe.
“Our global reports, developed in partnership with NIQ, provide quarterly snapshots of sales from dozens of countries around the world and a centralized overview of some of the top trends in convenience retailing that are already redefining markets. With an increasingly global market, trends—whether opportunities or threats—can quickly spread across the world,” said Henry Armour, President and CEO of NACS.
The 59-page report looks at overall sales by country, unit sales increase, and unit price increases, in addition to a deeper dive singling out five “what’s hot” and five “what’s not” categories.
