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The convenience and fuel retailing industry’s premier benchmarking tool and the most comprehensive collection of data and trends. Discover what’s next and how to get there faster.
October 1-4, 2022 | Las Vegas
For four days, attendees will be networking with industry experts, attending thought-provoking and empowering education sessions, and exploring a show floor with the latest merchandise for convenience and fuel retailing.
September 7-8, 2022 | Virtual
Convenience Catalyst is a unique opportunity for NACS most influential Retail Members to meet virtually with the newest Supplier Members ahead of the NACS Show allowing for a first look at the latest product innovations while fostering new peer-to-peer business relationships.
Webinars
Engage in prerecorded and live learning experiences without committing your entire day to a program. Through an easy-to-use digital platform, expert content leaders share their knowledge and facilitate conversations in convenient learning sessions.
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Purchase the Latest NACS State of the Industry Report®
The convenience and fuel retailing industry’s premier benchmarking tool and the most comprehensive collection of data and trends. Discover what’s next and how to get there faster.
Webinars
Engage in prerecorded and live learning experiences without committing your entire day to a program. Through an easy-to-use digital platform, expert content leaders share their knowledge and facilitate conversations in convenient learning sessions.
Don’t Forget to Renew Your Membership!
It believes its customers may prefer to order groceries and cook at home.
August 29, 2022
ALEXANDRIA, Va.—Grab, a food-delivery company based in Singapore, cut its gross merchandise volume outlook for the year, reports Reuters. The company said a strong dollar and shrinking demand for food-delivery services were to blame.
“What we are seeing with some of the growth trends and consumer behavior is dining out has taken place,” Grab CEO Anthony Tan told analysts. “Customers want to save money … they may actually show a preference to order groceries to cook for themselves.” Grab also offers grocery delivery.
Grab operates in 480 cities in eight countries in Southeast Asia. The company did lift the lower end of its revenue forecast for the year, saying it’s “laser-focused” on profitability as demand for rideshare across Southeast Asia peaks. Tan expects the rideshare portion of Grab to increase once economies reopen.
The company is also planning to launch new products to attract “profitable loyal customers” and lower the cost of serving users.
To cut company costs, Grab will cut back on inventories and promotions to attract drivers and users, drop unprofitable businesses such as its “dark stores” in some countries and decrease hiring.
The company forecast revenue between US$1.25 billion and $1.3 billion for the year, compared with its prior range of $1.2 billion and $1.3 billion. Grab forecasts gross merchandise volume growth between 21% and 25% for the year. On a constant currency basis, gross merchandise volume is expected to grow between 25% and 29%, compared with its prior range of 30% and 35%.
Mark your calendars for February 28 to March 2, 2023, when NACS Convenience Summit Asia heads to Bangkok, Thailand, where you’ll be transported into the epicenter of retail disruption and innovation—Asia—for an immersive look into the future of convenience retailing. Sign up to be notified when registration opens.
The Association for Convenience & Fuel Retailing