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That’s a real possibility, according to Morgan Stanley analysts who wrote that convenience stores could see a hit to beverage sales as more electric cars hit the road.
But experts on the convenience store industry say any substantial threat from electric cars is still decades away. While energy-efficient vehicles may catch on en masse with time, more immediate competition for convenience stores comes from the scores of retailers and online companies vying to sell … convenience.
“Beverages drive sales, and beverages drive profits at convenience stores, so any competition that could reduce those sales and those profits is a concern,” said Jeff Lenard of the National Association of Convenience Stores. “However, I think that stores will do what they always do: They’ll find a better way to compete.”
A Morgan Stanley report published Wednesday noted that electric vehicles make up a small fraction of all vehicles on the road today. But rapid growth in the future is not unreasonable.
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