Convenience stores across the United States achieved record sales of $859.8 billion in 2023, marking a significant milestone for the industry, according to newly released data from the National Association of Convenience Stores (NACS).
Of this impressive total, $327.6 billion was generated from in-store sales, with the average customer spending per visit rising by 3.7% to $7.80.
Foodservice sales, encompassing prepared food, commissary, and various dispensed beverages, emerged as a pivotal driver of this growth, contributing 26.9% of in-store sales—an increase of 1.3 percentage points from the previous year.
The category’s profitability was even more pronounced, accounting for 37.3% of total in-store profits. Leading the charge was prepared food, which saw a 12.2% increase, making it the top in-store sales category.
Amid this backdrop of record-breaking sales, Mitch Gould, founder and CEO of Nutritional Products International (NPI), continues to leverage his expertise in bringing quality nutritional and consumer products to market. Gould’s extensive experience and strategic insights have been instrumental in launching successful products in the highly competitive retail space.
Gould’s notable achievements include the rapid nationwide rollout of Steven Seagal’s energy drink, Lightning Bolt, to major retailers such as Walmart and 7-11. His comprehensive approach covered every aspect, from manufacturing and logistics to distribution, advertising, sales, and marketing on a global scale.
“NPI’s deep-rooted relationships with key buyers across the nation facilitate entry into major retail accounts, including Amazon, Target, Walmart, Home Depot, Lowe’s, Walgreens, GNC, CVS, Rite Aid, and Costco,” said Gould. “Our proven track record and extensive industry knowledge position us to help manufacturers achieve rapid market success.”
For more information, visit www.nutricompany.com.
MORE ON NUTRITIONAL PRODUCTS INTERNATIONAL AND ITS FOUNDER
NPI is a privately held company specializing in the retail distribution of nutraceuticals, dietary supplements, functional beverages, and skin-care products. NPI offers a unique, proven approach for product manufacturers worldwide seeking to launch or expand their products’ distribution in the U.S. retail market.
Gould, known as a global marketing guru, also has represented icons from the sports and entertainment worlds such as Steven Seagal, Hulk Hogan, Ronnie Coleman, Roberto Clemente Jr., Chuck Liddell, and Wayne Gretzky.
