Convenience store sales experience significant growth
Convenience store owners may rely on small consumer purchases to make their daily profits, but those sales are substantial and continuing to grow, making it essential for these businesses to have the most efficient currency counting machine to streamline back room processes. While credit card use has spread, many consumers rely on cash to make these small transactions, and with the number of sales continuing to increase, convenience store owners need to be prepared for more business.
Major growth in convenience store sales
According to a recent report from the Association for Convenience and Fuel Retailing (NACS), convenience stores across the country saw a record number of purchases in 2012 and sales reached an unprecedented $700.3 billion. In-store sales jumped 2.2 percent, hitting a record $199.3 billion, while fuel sales leaped 2.9 percent, coming in at a record-breaking total of $501 billion.
The in-store sales have been primarily driven by growth in certain consumer purchases. Sales of healthy snacks, such as energy and protein bars, increased by 12.2 percent; liquor sales jumped 11.6 percent; dispensed drink transactions saw an 11.3 percent gain and the sale of sweet snacks grew by 10.3 percent.
Playing an important role for consumers
Shoppers on the go often rely on convenience stores for more than just fuel. Busy consumers stopping to fill up their cars also often make a small purchase inside a shop, whether they're looking for a quick snack for the road or something else entirely. With their large selections and close proximity to many consumers' homes and workplaces, they're easy to access when an individual needs to pick something up.
"These numbers demonstrate that Americans turn to us for their daily needs," said Dave Carpenter, NACS chairman. "We are a vital part of Americans' daily lives and the U.S. economy. We also continue to innovate and deliver on our promise of providing fast, one-stop shopping to consumers, whether they are on the road or in their communities."
Because these purchases are often small and consist of snacks, drinks and fuel, many consumers may rely on their spare cash rather than paying for the transaction with a credit or debit card. This means that by the end of the day, a convenience store may have an excessive amount of cash on hand and find it inefficient to count sales manually. Having the right cash counter machine can simplify processes and ensure a busy convenience store is using the most effective processes to deal with an increasing number of purchases.