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Article: C-stores struggle with fast food. (convenience stores; takeout-food market)
- Article from:
- Restaurants & Institutions
- Article date:
- October 2, 1991
- Author:
CopyrightCOPYRIGHT 1991 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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C-STORES STRUGGLE WITH FAST FOOD
Despite their generally high-traffic locations and easy access, convenience stores are losing the battle for the takeout dollar.
From 1986 to 1989, convenience stores' share of the takeout-food market fell to 9% from 12%, according to a study by New York-based research firm Find/SVP. Meanwhile, restaurants held about an 80% share, and supermarkets gained five percentage points, to 12% from 7%.
Find/SVP predicts that convenience stores' share of the market will slip another percentage point by 1994.
With its high margins and rapid inventory turns, fast food would appear to be just the salve the ailing ...