A fresh stop: Changing consumer preferences are shifting the NJ industry's focus

Over the five years to 2018, IBISWorld estimates that revenue for the Convenience Stores industry in New Jersey will increase marginally at an annualized rate of 0.8% to $1.9 billion, including an estimated 1.7% increase in 2018 alone. A decline in individuals who smoke is expected to draw revenue away from the industry, but this loss will be offset by annualized increases in consumer spending, disposable income and an increasing amount of fresh food and produce options. As a result, industry participation is expected to increase, with the number of industry enterprises estimated to grow an annualized 0.4% to 1,626 over the five years to 2018. The number of industry employees is estimated to grow an annualized 0.3% to 9,657 individuals during the same period...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • New NJ legislation that raised the smoking age has dampened industry revenue growth
  • Industry Report - Industry Key Buyers Chapter

    • The Convenience Stores industry in New Jersey is characterized by a low level of market share concentration, with the top four players in the industry generating an estimated 27.3% of total industry revenue.• The national industry is characterized by a slightly higher market concentration; however, the level is still considered low.• Aside from several franchise or chain operations, this industry is relatively fragmented, with many independent, single-location operators.• The acquisition of a retail space presents one of the few significant barriers to entry. As a result, it is relatively easy for many operators to enter the industry, which contributes to the low level of market concentration...purchase to read more.

    Additional Insights for the Convenience Stores in New Jersey Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Convenience Stores in New Jersey Industry are

  • Proximity to key markets
  • Ability to control stock on hand
  • Attractive product presentation
  • IBISWorld analysts also discuss how external factors such as Consumer spending in New Jersey and Per Capita Disposable Income in New Jersey in the Convenience Stores in New Jersey industry impact industry performance..

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    What's in this report

    What is the Convenience Stores in New Jersey Industry?

    Operators in this industry are retail businesses that primarily sell basic food, beverage and tobacco merchandise in convenient locations that are generally open during extended hours. This report excludes gas stations (IBISWorld report 44719), gas stations with convenience stores (44711), grocery stores (44511) and small kiosks.

    Industry Products
  • Tobacco sales
  • Foodservice sales
  • Packaged beverage sales
  • Candy and snack sales
  • Beer sales
  • All other product sales
  • Industry Activities
  • Retailing a limited line of goods with an emphasis on basic food, beverages and tobacco products
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer spending in New Jersey
  • Per Capita Disposable Income in New Jersey
  • Percentage of smokers
  • Urban population
  • Healthy eating index

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Convenience Stores in New Jersey Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Beer Wholesaling
  • Cigarette & Tobacco Products Wholesaling
  • Confectionery Wholesaling
  • Dairy Wholesaling
  • Frozen Food Wholesaling
  • Grocery Wholesaling
  • Soft Drink, Baked Goods & Other Grocery Wholesaling

  • Products & Services
  • Tobacco sales
  • Foodservice sales
  • Packaged beverage sales
  • Candy and snack sales
  • All other product sales
  • Beer sales
  • Chart: Convenience Stores in New Jersey Industry Products and Services Segmentation

  • Major Markets
  • Consumers aged 45 to 64
  • Consumers aged 25 to 44
  • Consumers aged 65 and older
  • Consumers aged 24 and younger
  • Chart: Major Market Segmentation for the Convenience Stores in New Jersey Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Convenience Stores in New Jersey

  • Basis of Competition
    Barriers to Entry
    7-Eleven Inc., Krauszer's Food Store Inc., QuickChek Corp., Wawa Inc.,
  • Table: 7-Eleven Inc. - financial performance
  • Table: Krauszer's Food Store Inc. - financial performance
  • Table: QuickChek Corp. - financial performance
  • Table: Wawa Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Convenience Stores in New Jersey Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Convenience Stores in New Jersey Industry
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Consumer Spending in New Jersey (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Interchange Fee
  • A fee that banks and credit card companies charge convenience store owners when consumers use credit and debit cards for purchases.
  • Metro Store
  • A scaled-down version of a supermarket that often has the qualities of a convenience store with lower prices.
  • Point-Of-Sale (Pos)
  • A system of computers and cash registers used at checkout in retail stores to capture transaction data at the time and place of sale.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Convenience Stores in New Jersey provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Convenience Stores in New Jersey:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Convenience Stores in New Jersey market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Convenience Stores in New Jersey, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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