1、Summer 2025Convenience Store and Car Wash Industry Update010203Convenience Store and Car WashExecutive SummaryConvenience StoreOverviewCar Wash OverviewTable of ContentsConvenience Store and Car WashExecutive Summary Recession Recession Recession Recession COVID-19Convenience Stores and Car Washes R

2、emain Resilient Amid a Weakening Macro Backdrop Consumer confidence continues to deteriorate as households respond to inflation that remains sticky,weakening labor markets,and growing uncertainty around future employment and spending power.Tariffs and broader input cost pressures are compounding the

3、se headwinds,with inflation expectations edging higher and signaling a more prolonged drag on consumer sentiment.Against this backdrop,convenience stores(c-stores)and car washes remain resilient,supported by nondiscretionary demand,value-seeking consumer behavior,and vehicle maintenance spending tha

4、t tends to persist in downturns.Operators are easing cost pressures via pricing discipline and value initiatives,with c-stores boosting loyalty through foodservice and private labels,while car washes counter rising costs with memberships and operational efficiency.4Despite mounting macro pressures f

5、rom tariffs,softening consumer demand,and weakening labor markets,convenience stores and car washes continue to demonstrate resilience and steady performance.Macro Environment OverviewC-Store Recessionary Track Record(1)Car Wash Recessionary Track Record(2)CAGR:15%U.S.C-Store Inside SalesCAGR:1%CAGR

6、:3%CAGR:4%CAGR:5%U.S.Car Wash Sector Growth,Indexed to Starting Year in Period100%95%99%102%2008200920102011Great Recession Performance100%99%128%142%2019202020212022COVID-19 Recession PerformanceSources:NACS,Federal Reserve Economic Data.Notes:(1)The CAGR above the grey recession boxes reflects ins