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| Check out the first page of the original State of the Industry Report or see the latest report (above) - and visit nacs50.com for a timeline of important industry events. |
ALEXANDRIA, VA - As the convenience and fuel retailing industry continued to grow though the 1970s, solid metrics and benchmarking numbers grew in importance for retailers who were working to improve their businesses and measure ROI.
In 1970, NACS created the first compilation of industry data that measured standardized metrics including total sales for the year ($1.1 billion), average weekly sales per store ($3,564), the number of stores opened during the previous year (1,216) and other numbers that allowed retailers to see how their stores measured up. The report was called the State of the Industry Report, and the metrics it tracks have expanded with the industry.
That first report showed total annual sales of about $1.1 billion. By comparison, the convenience and fuel retailing industry made $1.1 billion every 16.7 hours in 2010!
"Metrics define our industry??s enormous growth but behind every number is our industry??s biggest competitive advantage: People are still what separates us from other channels," said NACS Chairman Jeff Miller. "From 1961, NACS has helped both retailers and suppliers share ideas and work together to serve our customers and fuel our industry??s incredible growth."
We??re celebrating our 50th anniversary this year, but we wouldn??t be here without you! Share your photos, videos and memories of the convenience channel and we'll add them to our photo and video galleries. Visit nacs50.com/participate for more information.