Fresh, Quality Prepared Foods Are Winning at Convenience Stores, Finds Technomic
CHICAGO, Feb. 12, 2014 /PRNewswire/ -- More convenience stores are concentrating on providing a greater variety of fresh, high-quality foods, and competition is mounting as stores strive to compete with fast-food restaurants. Technomic's Convenience Store Market Intelligence Report focuses on how convenience stores fit into the overall foodservice picture. Convenience-store foodservice is a $10.9 billion industry and a key area of opportunity for convenience stores across the country.
Fully 57 percent of consumers say they have purchased prepared foods from convenience stores. Roughly a third of consumers who visit convenience stores for fresh-food items purchase them at least once a week from convenience stores.
More c-stores are leveraging branded restaurants at their c-store locations. While Subway and McDonald's have locations built into some convenience stores, capitalizing on convenience and foot traffic, more progressive c-store chains are developing and integrating their own branded restaurants into existing stores, transforming the perception of purchasing prepared food at a convenience store.
"Prepared food is a growth opportunity for convenience stores willing to raise the bar on quality and key attributes sought by today's consumers," says Technomic Senior Director Donna Hood Crecca. "Consumers say they would visit convenience stores more often for prepared foods if those foodservice areas were improved upon. Customizing their offerings and a more appealing decor and atmosphere could enhance the experience."
To help operators and manufacturers stay on top of current trends and evolving consumer needs, Technomic has developed the Convenience Store Market Intelligence Report. Other consumer insights found in the report include:
- Three-fourths of consumers (76 percent) who purchase prepared foods from convenience stores report that these locations provide a convenient option.
- Two-fifths of consumers say they would visit convenience stores for prepared foods more often if freshness and quality were improved.
- Convenience stores top other types of retail locations for breakfast patronage, and convenience stores are the only segment to see a significant increase in breakfast patronage over the past few years. This is likely driven by coffee purchases.
- Entrees account for more than half of c-store menu items, with their share of the menu expanding significantly to 51 percent in the second quarter of 2013 from 47 percent a year earlier. Sandwich remains the top breakfast entree.
Technomic's Convenience Store Market Intelligence Report provides comprehensive research on the latest menu and consumer trends related to c-store foodservice, pulling from myriad sources:
- Technomic's detailed restaurant and foodservice industry tracking, including a ranking of the 50 largest convenience-store brands and historic c-store foodservice sales totals since 1983 and other publications compiled in Technomic's exclusive Digital Resource Library, a unique online restaurant industry database.
- Original consumer research conducted for Technomic's Consumer Trend Reports and other studies.
- Menu data and insights from Technomic's exclusive MenuMonitor online trend-tracking resource, a constantly updated, searchable online database of more than 9,000 menus from top chains, emerging concepts, independent restaurants and leading convenience stores.
- Secondary research from Technomic's Knowledge Center, one of the most extensive foodservice library collections in the world.
To purchase or learn more about this report please visit Technomic.com or contact one of the individuals listed below.
Press Inquiries: Donna Hood Crecca, 631-265-2929, or firstname.lastname@example.org
Report Inquiries: Mary Chapman, 312-506-3871, or email@example.com
Purchasing Details: Patrick Noone, 312-506-3852, or firstname.lastname@example.org
Technomic provides clients with the facts, insights and consulting support they need to enhance their business strategies, decisions and results. Its services include numerous publications and digital products, as well as proprietary studies and ongoing research on all aspects of the food industry.