In 2023, the foodservice sector emerged as a standout performer, achieving double-digit sales growth despite a deceleration from the previous year’s pace. The average foodservice sales per store rose by 11.9% to $388,607, compared to an impressive 18.8% growth in 2022. All foodservice segments reported increased dollar sales, underscoring the category’s crucial role within the channel. Prepared food led the charge, boasting a 12.9% increase in average dollar sales per store. Meanwhile, cold and frozen dispensed beverages each saw over 10% growth, and hot dispensed beverages, although posting the lowest growth at 7.8%, still secured the second-highest dollar sales. Total industry foodservice sales surged by 13.5%, marking a slower yet robust growth compared to the pandemic recovery years, and foodservice’s share of in-store sales hit a new peak at 20.4%.

Source: Hanson, Angela and Linda Lisanti. “A Trying Year: Inflation, Higher Operating Costs and Lower Fuel Prices Took Their Toll in 2023.” Convenience Store News, Industry Report 2024