Headlines report that c-store revenue is up across the industry, but transaction data from over 1,700 c-stores tells a surprising story of declining demand.
Find out what you can do to get ahead.
Upside analyzed 1,700 c-stores and interviewed 1,500 consumers to find out.
Store revenue and spend per transaction appear to be increasing, but looking at the data in 2019 dollars tells a different story. Observed top-line growth, after the pandemic shift, is driven by inflation.
As of January 2024, shoppers were transacting 12% less often compared to last January. That’s the largest year-over-year decline across four years of data.
In an Upside survey of 1,500 shoppers, respondents reported reasons around cost as the primary driver of their decision to pull back from c-store spend.
Nearly 80% of today’s retail customers are uncommitted, shopping across brands and formats in order to maximize their own value. Long-term growth depends on understanding and influencing them — profitably. This new report shows you how.
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For grocers, 31% of their customers in a given month will churn — even more so for new customers. Loyalty programming helps, but significant churn risks remain.
For restaurant retailers, 42% of their customers in a given month will churn — even more so for new customers.
For fuel retailers, 51% of their customers in a given month will churn — even more so for new customers. Loyalty programming helps, but significant churn risks remain.
As of January 2024, shoppers were transacting 12% less often compared to last January. That’s the largest year-over-year decline across four years of data.
Retained customers spend at higher levels than new customers
Source: Upside transaction data from 7.7 million customers at 335 grocery stores, 2,254 fuel stations, and 1,498 restaurants from March 2022 to February 2025.
Customer retention is about building habits, visit by visit. Our research shows regular grocery customers are 46 percentage points more likely than new customers to stick around after a year — and that compounds over time.
Get a look at the whole picture. Download our report on declining c-store demand and what retailers can do about it now.