Whether the slowdown of our economy is – or is not – a recession, the convenience stores don’t see the decline in customer visits, and notably, see the increase in cash receipts.
In the ever-important category of breakfast food, traffic and sales in the second quarter were flat, according to data from The NPD Group. Although “flat” doesn’t sound like much improvement, Forbes reports that flat traffic and spending is a success story, as consumers are tightening their budgets amid inflation woes, and being flat also provides solid ground for near-term growth.
At fast food giants like McDonald’s and Starbucks, breakfast daypart is “coming back with velocity”. “There’s no doubt the morning daypart is going to come roaring back. And it’s not a question of if, it’s a question of when,” Starbucks CEO Howard Schultz said on the company’s third-quarter earnings call.
According to Numerator, the picture is even brighter. Total breakfast spend at QSRs has more than recovered from the pandemic-induced drop in 2020, which was down 16%. Spend is now up 32% in the latest 52-week period ended June 12 versus 2019.
With consumers nationwide returning to their breakfast routines, the convenience store chain operators face the need to review the up-to-date data on their locations, paying close attention to recent changes in traffic and demographic trends.
It is worthy of note that according to our study, many areas also show a traffic demand increase, reaching and exceeding 19% since the end of 2021.
Ticon’s C-Site InsightÔ intelligence report can help you get precise, verified, up-to-date information on any location of interest. Contact us for a free sample report, or even better, set up a video call and we’ll show you what “meaningful data” looks like.
Changes regarding breakfasts and other specific activities can be better gleaned from the changes in intraday traffic, which, although not provided in our standard reports, can be custom ordered. They will show not only changes in the volume of passing traffic during the day but also changes in drivers’ behavior, reflecting the willingness to get off the road and visit your establishment. This is a brand-new tool, and we will gladly demonstrate it to you - contact us to arrange a demo.