Empty gas tanks aren’t the only thing haunting convenience stores these days. Americans are pumping and running — skipping their usual impulse purchases of chips, candy, and cigarettes as wallet-conscious consumers tighten their belts amid persistent inflation and economic angst. This change in consumer behavior has taken a toll on retailers, causing a 4.3% drop in convenience store sales volumes over the year ending Feb. 23.
- Rice cakes suffered the steepest decline among snack categories, while refrigerated products tumbled 7% and chocolate sales melted 6% by volume.
- Consumer sentiment remains mixed, with 46% feeling optimistic about the economy while a third report uncertainty — though inflation concerns persist as the top worry across all age groups.
The price isn’t right: This convenience store slump isn’t happening in isolation. A broader pullback in discretionary spending is evident across retail categories, with consumers becoming increasingly selective about their purchases. PepsiCo is trying to lure customers back with innovative offerings like cheese-topped Doritos, while J.M. Smucker rolls out special edition Twinkies — but with a $7 price tag on large bags of chips, these efforts might not be enough to reverse the trend. The only item still flying off convenience store shelves? Lottery tickets — perhaps a sign that while Americans are cutting back on snacks, they’re not giving up on their dreams of striking it rich.
Read: Are Quirky Economic Indicators Signaling a Recession? Here’s What to Watch
