College students, aged 18 to 24, made 351.4 million visits to convenience stores and spent approximately $5.2 billion on convenience store products in the 12-month period ending June 2012. This is according to a recently released report by The NPD Group, a global information and advisory services company. With the population of full- and part-time college students currently at 19 million and their discretionary spending reaching $76 billion last year, up $2 billion from the year before, the NPD report finds that there is significant opportunity for convenience retailers to attract these young adults and build brand affinity.
Student convenience store usage has grown across virtually all spending components, and product dollars grew 15 percent over a year ago, according to the NPD report. The report, which examines how convenience stores can capitalize on opportunities to attract college students, also found that 31.9 percent of college students’ convenience store purchases are an impulse buy, compared to 22.7 percent of overall convenience store shoppers’ purchases.
In terms of fuel, students make up approximately 4 percent of the fuel buying population in the United States. Likely related to less driving, student fuel buyers purchase fewer gallons per month than does the average consumer. College student fuel brand usage is more centralized around major oil gasoline brands, rather than high-volume retailers, like grocery store gas retailers.
“Students with money to spend represent a growing population and a significant opportunity worth convenience store marketers’ attention,” said David Portalatin, Director of Industry Analysis for NPD. “Opportunities exist for c-store retailers to tap into student impulse purchasing through strategic product placement, bundling, loyalty programs, and dealing to increase student purchasing.”
Student convenience store usage has grown across virtually all spending components, and product dollars grew 15 percent over a year ago, according to the NPD report. The report, which examines how convenience stores can capitalize on opportunities to attract college students, also found that 31.9 percent of college students’ convenience store purchases are an impulse buy, compared to 22.7 percent of overall convenience store shoppers’ purchases.
In terms of fuel, students make up approximately 4 percent of the fuel buying population in the United States. Likely related to less driving, student fuel buyers purchase fewer gallons per month than does the average consumer. College student fuel brand usage is more centralized around major oil gasoline brands, rather than high-volume retailers, like grocery store gas retailers.
“Students with money to spend represent a growing population and a significant opportunity worth convenience store marketers’ attention,” said David Portalatin, Director of Industry Analysis for NPD. “Opportunities exist for c-store retailers to tap into student impulse purchasing through strategic product placement, bundling, loyalty programs, and dealing to increase student purchasing.”
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