In 2023, 7-Eleven remained in second place behind McDonald’s in terms of annual sales, reaching $97.9 billion, a 4.7% increase from the previous year. Despite a slight decrease in units, the convenience store giant continues to thrive with over 82,000 locations. On the other hand, Circle K experienced growth in both annual sales and units, with $17.7 billion in sales (a 5.2% increase) and 13,734 units (a 12.8% increase). ampm also maintained stability in its annual sales with $1.67 billion, only down 0.1% from the previous year, and an increase in the number of units to 1,020.
The top 200 franchise brands within the Top 400 list collectively generated $707.1 billion in global sales in 2023, reflecting an increase from the previous year. Despite challenges in other sectors, the foodservice industry performed well, with restaurant brands contributing $457.2 billion in sales, an 8.3% growth from 2022. This growth was particularly notable given the high inflation rates faced earlier in the year, with the inflation rate for food away from home starting at 8.2% but decreasing to 5.2% by the end of the year.
7-Eleven Inc., headquartered in Irving, operates, franchises, and licenses over 13,000 stores in the U.S. and Canada. In addition to its flagship stores, 7-Eleven also operates Speedway, Stripes, Laredo Taco Co., and Raise the Roost Chicken and Biscuits locations. Couche-Tard, based in Laval, is a global leader in convenience and mobility with operations in 31 countries and territories, boasting over 16,700 stores, of which approximately 13,100 offer road transportation fuel. Known for its Couche-Tard and Circle K banners, the company is one of the largest independent convenience store operators in the U.S.
Established in southern California in 1978, ampm has grown to over 1,000 stores along the West Coast, offering a diverse range of over 3,500 products. The brand is fully owned by bp, ensuring quality and consistency in its service offerings.
Overall, the convenience store industry is experiencing positive growth, with key players like 7-Eleven, Circle K, and ampm adapting to changing consumer preferences and market conditions. Despite challenges such as inflation, these brands continue to innovate and expand their offerings to meet the evolving needs of their customers.
As we move further into 2024, it will be interesting to see how these industry leaders continue to thrive and drive innovation in the convenience store sector. Stay tuned for more updates and insights on the latest developments in the world of convenience retail.
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