13 Apr '18, 10pm

How Electric Cars Could Put A Damper On Convenience Store Sales

How Electric Cars Could Put A Damper On Convenience Store Sales

Numerous industries could face a wave of changes with the rise of the electric car, but convenience stores are looking at impending issues today. The Washington Post reported on Tuesday that as electric cars become more popular options for drivers, convenience stores could face slower sales and put the beverage industry in a tough position. Why? If drivers aren’t stopping to refuel a vehicle, they’re also not entering the store to spend money. Nearly half of all convenience store customers purchased a beverage. Fuel sales alone only account for about 40 percent of a store’s profits. Research from Morgan Stanley noted such effects aren’t imminent, but convenience store owners have a right to feel concerned. “Beverages drive sales, and beverages drive profits at convenience stores, so any competition that could reduce those sales and those profits is a concern,” said Jeff Le...

Full article: http://www.hybridcars.com/electric-cars-put-damper-conven...

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