Fueling Up is a column from C-Store Dive offering a fresh perspective on the top news and trends in the convenience store industry.
The convenience retailing industry continues to evolve at a ridiculously fast pace. Retailers like Casey’s General Stores, Wawa and QuikTrip are investing millions into acquisitions, new builds, premium food offerings and mobile rewards. Faced with post-pandemic supply chain and inflation challenges, these companies are looking to grow as big and as fast as they can, while their smaller, less-equipped competitors struggle to stay afloat.
That seems to be the state of the c-store industry in 2025 — grow as big as possible, or risk fading into oblivion.
As c-store retailers dive into this period, I have several questions about how certain industry trends and company initiatives will unfold. Here are my top three.
How will the c-store industry respond to President Trump’s stance on EVs?
Electric vehicle charging seemed poised for a boom in late 2022, when former President Joe Biden approved the National Electric Vehicle Infrastructure program. The program dedicated $7.5 billion to building out alternative fuel and EV charging stations across all 50 states, plus the District of Columbia and Puerto Rico.
Several major convenience retailers took advantage of the NEVI program. Love’s Travel Stops & Country Stores, Pilot Company and Global Partners all received tens of millions in NEVI grants since early 2023 as they planned to support the country’s electrification efforts.
While those established grants and site plans will likely remain in place, one of President Donald Trump’s first executive orders since coming back to office earlier this month was to pause funding for the Infrastructure Investment and Jobs Act, which includes the NEVI program. This is under President Trump’s “Unleashing America Energy” order, which says it will eliminate the EV mandate and “promote true consumer choice.”.
If consumers are purchasing fewer EVs and if states aren’t receiving NEVI funding, I’d be shocked if c-store retailers still prioritize building out their charging networks the way they have in recent years.
Will 7-Eleven’s “New Standard” stores improve its food?
After facing economic headwinds and revenue declines for most of 2024, 7-Eleven outlined plans in October to open over 600 large-format, food-focused locations — known as its New Standard stores — in the U.S. by the end of 2027. The first of those had already opened before the company made its announcement.
These locations offer a larger product assortment and expanded food and beverage offerings compared to traditional 7-Eleven’s locations, in addition to in-store seating.
I don’t think it’s outrageous to say that in the U.S., 7-Eleven is hardly known for its food. One TikTok food reviewer even called its food a travesty.
With over 9,400 locations across the country, offering high-quality food in a small-format setting — the average 7-Eleven is about 2,500 square feet — is a tall task.
That’s why I’m so intrigued to see if 7-Eleven’s New Standard stores and enhanced focus on food will not only improve the company’s perception in the eyes of consumers, but narrow the competition gap with other food-focused c-store retailers, such as Wawa, Sheetz and Casey’s.
Which c-store retailers will go on a buying spree — and which will sell?
Mergers and acquisitions will likely continue to dominate the c-store industry in 2025. I can’t be the only person wondering which retailers are planning for a big splash, and which will be on the chopping block.
As outlined in C-Store Dive’s annual predictions column earlier this month, I think Alimentation Couche-Tard is due to make a major acquisition in 2025. The company has stubbornly tried to purchase 7-Eleven since last summer, though as time goes on, it’s looking less and less likely that any deal will materialize.
But a failure to acquire 7-Eleven may just make Couche-Tard, the second-largest c-store retailer in the U.S., even hungrier to scale up. And it’s in a prime position to do so: By November of last year, Couche-Tard reached its highest revenue since the turn of the century.
So who’s in play for Couche-Tard — or any other notable retailer — to snag?
If I were to place a bet on who will sell their assets in 2025, I’d put my money on Canadian retailer Parkland leaving the U.S., where it operates over 200 convenience stores and 450 dealer locations.
Parkland has struggled mightily in the U.S. for the past two years amid declines in retail and commercial fuel volumes. The company has undergone hundreds of staff cuts across its business since early 2023 and announced it was looking to sell its business in Florida, where it operates about 100 convenience stores. This all came after investors began pressuring Parkland’s leadership to either split its refinery and fuel distribution businesses or sell the company entirely amid underperformance compared to its peers.
Although Parkland’s leadership said last November that they were “cautiously optimistic” about its struggling U.S. business heading into 2025, there’s no doubt that the rest of the c-store industry has seen the company’s troubles. Parkland is already halfway out the door in the U.S. with its Florida business on the market, so offloading the other half of its stores makes sense.
