Convenience Stores In US: One stop for all services…

The retail sector is evolving fast as middle class expands and national and international operators invest in stores and supply chains. But the shifts in the world economy are not just geographical, but societal. Technology and information have changed everyday relationships, with consumers dictating increasingly what they spend on which products and how.

C-store operators are always looking to add new products and services to beef up their bottom lines. Another worthwhile approach is taking an existing service and refining the workflow to get every bit of profit out of something you're already doing well.

At a convenience store now, one can pay diverse utility bills for electricity, cell phones, the Internet and newspapers, send things or a letter, print out photos and even buy an insurance policy. To please everybody, convenience store chains have taken up the role of bank, post office, photo studio and insurance company.

As per a survey, a number of salaried workers who leave home early without having breakfast stop by a convenience store near their workplaces for a light meal. Weekend mountain climbers go there for the same purpose early in the morning.

The convenience store industry also reported a continuing evolution toward offering more products and services under one roof. Services widely offered by the industry for those seeking an "office on the road" include ATM services (in 63% stores), money orders (in 77% stores) and copy/fax services (in 19% stores). Also, car wash services quadrupled over the past two years and are now offered by 13% stores.

Customers will be able to buy automobile insurance from Meritz and accident insurance from AIG. In fact, insurers have already advanced to home shopping channels and large discount store chains.

The availability of ATM's at the convenience stores itself have increased the chances for a leisure time shopper to drop in or any drive-in customer to stop for a quick purchase.

A recent market research report Convenience Stores Market – Worldwide (2005-2008) by RNCOS have also found out that the value of the convenience store retailing market In US is estimated to be worth 300bn USD. In the past five years, the total number of food related stores developed by the top 30 international operators have increased by 23 percent. Co-operatives and convenience multiples have grown strongly, by 15 per cent and 18 per cent respectively, fuelled in part by store acquisitions.

The report also highlights in-depth research of the Convenience Stores Industry as a part of the global retail industry. The current economic trends, consumers' preferences, technological advancements, sales analysis, the government policies worldwide, market distribution, and the future prospects are mentioned.

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