COVID-19 and Convenience Retail - Q1 and Q2
Posted Jul 28, 2020
2020 has been filled with uncertainty -- and as we continue to fight COVID-19, Skupos is continuing to monitor overall trends in the convenience store industry. We've compiled a report that focuses on in-store, fuel, and beer revenue through the first half of 2020. You'll find the following:
- How the industry has remained resiliant through the pandemic
- Weekly and monthly trends
- YOY performance, comparing 2020 data to 2019
See below for a sneak peek, and if you're interested in learning more, download the full report here.
Average weekly fuel revenue per store took a major dip amidst nationwide shut downs in mid-March. Fuel started crashing the week of March 8th, dropping by 47% to its bottom the week of April 6th when fuel and in-store sales nearly met for the first time this year. In comparison, in 2019, fuel sales accounted for around 70% of average weekly revenue per store. During this same time frame in 2020, fuel sales accounted for roughly half of average weekly revenue per store. The sharp decline in dollar fuel sales was the result of the “one-two punch” of decreases in travel due to stay-at-home orders combined with gas prices hitting a 20-year low.
In-store revenue took a significantly smaller hit to top-line revenue, dropping by only 5% during the 30 days directly after nationwide shut downs. By the end of June, in-store revenue was up 37% from this year’s low the week of March 22nd.
Download Skupos' COVID-19 Q1 and Q2 Report