Feeling the Pinch

Inflation, supply chain issues and the ongoing labor shortage have c-store retailers and suppliers more pessimistic about this year’s business prospects

A Convenience Store News Staff Report

A YEAR AGO, the cover of Convenience Store News displayed the headline, “On the Road to Recovery.” Nearly two years into the COVID-19 pandemic, the c-store industry’s retailers, suppliers and distributors believed they had weathered the worst of it and were headed into the new year largely optimistic about their business prospects.

While 2022 proved to be somewhat of a year of recovery for the industry, it certainly was not without its obstacles. Chief among them: inflation, continued staffing challenges and ongoing supply chain issues. Unfortunately, these same problems persist today and as a result, c-store retailers and suppliers are more pessimistic about their business prospects this year.

According to the findings of the 2023 Convenience Store News Forecast Study, the overall 2023 business outlook for the convenience channel is largely neutral. On a scale of one to five — where 1 represents “Terrible, wake me when it’s over” and 5 represents “It’s going to be our best year ever!” — the largest percentage of retailers (44 percent) and the largest percentage of suppliers/distributors (also 44 percent) rate their expectations for 2023 at a 3. Last year, the foremost rating among both these groups was a 4.

Read on to learn more about what the industry’s key players predict for 2023.