US has almost 140,655 convenience stores (C-store) posting sales of US$ 495 Billion annually. The Indo Asian News Service reported rough estimates provided by the online edition of ‘littleindia’, an ethnic Indian magazine. As per the estimates, South Asians dominate the C-store sector nationwide and own around 50,000 to 70,000 stores, almost one-third to half of the total.
The retail channel that worth half-a-trillion-dollar consists of a number of small entrepreneurs apart from multi-state and nationwide channels like 7-Eleven that have become the foundation of the comfortable life in US.
The RNCOS report, “US Convenience Stores: A Market Analysis”, says that strong customer demand for convenient shopping experience has fueled the growth in this sector and has taken it into the league of most dynamically growing sectors in the entire retail market. C-stores have carved their niche for themselves in the grocery supply chain, serving top-up shopping necessities to supplement the supermarket shops.
In news published by the Indo Asian Service, Satya Shaw, President, Asian American Convenience Store Association (AACSA), estimated that South Asians own around 70,000 C-stores, giving out more than $100 Billion as revenues.
Tariq Khan, Chairman, National Coalition of Associations, 7-Eleven Franchisees, the largest C-store chain in US, said that South Asians own over 50% of the chain’s franchised stores. In California alone, out of the 1,200 7-Eleven stores, around 600-700 stores are held by South Asians.
The Indo Asian News Service reported Khan on February 14, 2007 saying, “With all the bankruptcies in the 90s of convenience stores, I think Indians and Pakistanis are the reason the companies survived because we came in and bought those stores”.
On the question of why South Asians are entering in this sector, Khan said, “In this business you don't need experience - the prices are on the merchandise. You don't even have to know much English… This business is also recession proof because every morning people need the newspaper, bread, milk, coffee and cigarettes”.
The research report also discusses the total market size of the US retail industry, state-wise growth of C-stores in US, how existing technology is improving the operational efficiency in this sector, technological advancements to improve the operations, and major players in the industry.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.