How Are Your Transaction Counts?

The convenience retail industry has experienced a trend that continues to be problematic: marginal declines in inside transaction counts.

The pandemic upended just about operational aspect, although retailers were already experiencing marginal declines in in-store transaction counts every year from 2016-2021.  

We learned at last year’s NACS State of the Industry Summit that inside transaction count growth increased 2.8% in 2022 over 2021.

“Transaction volume is one of the key components of driving sales and profitability,” notes the NACS State of the Industry Report® of 2022 Data. The report also notes that the top performers averaged more total transaction counts, and also saw larger sales dollars in those transactions:

“Merchandise sales of $4.46 per customer transaction for top quartile firms was 18.3% higher than bottom quartile companies, which averaged $3.77 per customer transaction.”

All signs seemed to be pointing up as the industry headed deeper into 2023; however, by Q4 there were signs of decay: inside transaction counts were down -4.7%.

Heading into 2024, a decline in transactions counts could serve as a weak signal for many convenience store operators. NACS will share new 2023 industry operational and financial data at the upcoming NACS State of the Industry Summit, taking place April 3-5 in Chicago.

Advertisement

Advertisement

Advertisement