Spain, Portugal c-stores hit €1.2 billion gross sales in 2019
The revenues include some 7,750 stores operating in petrol station networks in Spain and Portugal.
Convenience stores located at Spanish and Portuguese petrol stations generated a turnover of approximately 1,2 billion euros in 2019, according to DBK Sectorial Observatory's latest study on 'Convenicence Stores'. The gross revenue corresponds to some 7,750 stores currently operating at fuel retailing networks on the Iberian Peninsula.
According to the study, based on primary information sourced from the leading companies, the turnover points to an increase of 2.5% sales over the previous year, which is, however, lower than the 3.1% variation recorded in 2018. Regarding the 2013-2019 period, the accumulated growth of the sector turnover in the Iberian Peninsula was close to 19%, estimates DBK.
The significant boost in sales experienced in recent years has been favoured by these locations' widespread presence and their long opening hours, as well as by the increase in road traffic and the rise in household expenditure.
However, the DBK Sectorial Observatory points out that the sector will face a sharp cut in income in the short term and a worsening of its profitability, due to the general economic recession and a particular fall in tourism demand as a result of the COVID-19 pandemic.
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