The convenience store beverage market is a massive piece of the $623 billion foodservice industry and critical for those in the market to understand. But what data about convenience stores beverages is most relevant and useful when you are considering your next steps to grow your business or brand? With the help of Brizo’s data, there is no need to guess. Brizo’s comprehensive data set provides a comprehensive suite of insights into the convenience store beverage industry – both present and future.
In this article, we’ll cover the top 10 things that convenience store beverage data can tell you about what’s going on in this vibrant and booming market. From key category sales trends to new product introductions, these insights will help you shape and grow your business. Whether you’re a restaurant technology provider or a foodservice supplier, there are plenty of competitive advantages to be had by taking advantage of quality data.
First, let’s take a look at how convenience store beverage sales have changed over time. There have been some major trends in the convenience store beverage space in the past decade, and those can be used to understand shifts in consumer behavior that can be leveraged to drive more sales for your brand or product.
For example, between 2014 and 2019, tea sales saw a nearly 30% growth, both in terms of revenue and volume, illustrating the growing popularity of tea-based beverages in convenience stores. At the same time, energy drinks also made huge gains, with sales nearly doubling between 2017 and 2018. This can be taken as an indication that convenience store customers are increasingly looking for more of a boost in energy when shopping for beverages.
A deeper look at convenience store beverage data can also unearth some interesting insights about the key players in this competitive space. Data indicates that the two biggest convenience store suppliers of beverages are Monster and Red Bull. And as we discussed earlier, energy drinks have been one of the leading categories of convenience store beverages in recent years.
Data can also provide key information about what areas of the convenience store beverage market are most attractive for your products or services. For example, data can uncover areas such as new product introductions, promotional activity, and regional trends that you may not have known to investigate.
New product introductions can provide opportunities for innovation and differentiation. Data can tell you what new products are being introduced and also help you identify key features, such as their nutritional content, potential points of differentiation, and the segments of customers that may be most attracted to these new products.
Promotional activity is also key, both from existing product lines and new products. Data can help you understand what types of promotions are resonating with customers to grow sales and profitability. Knowing this information can also help you decide if launching promotions of your own is a worthwhile endeavor.
Finally, data can shed light on whether there are regional or local trends of which you are unaware. This data can help you make more informed decisions about where to launch or prioritize products in the convenience store channel.
The convenience store beverage market is highly competitive and can also be quite complex. Having access to comprehensive and high-quality data can give you a major edge over competitors when it comes to understanding and capitalizing on key trends. By leveraging Brizo’s data, you can continue to stay ahead of the curve for a competitive advantage in this sector.
