With the arrival of electric vehicles, people won’t be stopping at gas stations to fill their tanks and convenience stores could take a hit on impulse purchases.
Fuel accounts for only 40 percent of profit for gas stations, meaning most money is made inside the store and beverages make up a bulk of those sales.
“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 Lenard of the National Association of Convenience Stores. “However, I think that stores will do what they always do: They’ll find a better way to compete.”
Read the article at The Washington Post.
