A deeper dive into HOW convenience retail units are classified. From market research to marketing campaigns, this is the information that can get you to the right result.
The North American Industry Classification System (NAICS)
Government, analysis reports, and databases mainly refer to a number/code found under two classification systems: NAICS (pronounced Nakes) and SIC. NAICS replaced the SIC system in 1997 but some still use the outdated SIC codes.
The NAICS classification code ranges from two to six digits. As the code gets longer, the industry becomes more specific.
Below are the relevant retail NAICS codes:
- 447 – Gasoline Stations
- 4471 – Gasoline Stations
- 44711 – Gasoline Stations with Convenience Stores
- 447110 – Gasoline Stations with Convenience Stores
- 44719 – Other Gasoline Stations
- 447190 – Other Gasoline Stations
- 44512 – Convenience Stores
- 445120 – Convenience Stores “This industry comprises establishments known as convenience stores or food marts (except those with fuel pumps) primarily engaged in retailing a limited line of goods that generally includes milk, bread, soda, and snacks.”
Some relevant wholesale NAICS codes:
- 4247 – Petroleum and Petroleum Products Merchant Wholesalers
- 42471 – Petroleum Bulk Stations and Terminals
- 424710 – Petroleum Bulk Stations and Terminals
- 42472 – Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)
- 424720 – Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)
Examples of How to Use NAICS Codes
You can use these codes to answer questions such as:
Q. How many people are employed in the retail side of the industry (NAICS 447)?
A. About 1 Million in the US, according to the US BLS.
Q. How much revenue did the industry generate in November 2019 (NAICS 447)?
Q. How many gas stations and convenience store companies in the US (NAICS 447 & 44512)?
A. According to Dun & Bradstreet, the US has an estimated 85,645 gas station companies and 68,324 convenience store companies. That equals 153,969 for convenience and gas companies. This search was performed through the Carnegie Library on December 20, 2019.
The National Association of Convenience Stores (NACS)
This global organization provides its own definition in its 2019 State of the Industry Report (PDF):
- The footprint of 5,000 square feet
- Off-street parking and/or convenient pedestrian access
- Extended hours of operations (i.e. many are open 24/7)
- At least 500 SKUs
- A product mix that includes beverages, snacks (including confectionery), and tobacco