Rising gas prices threaten impulse purchases at convenience stores

Rising gas prices are having all sorts of ripple effects on shopping behavior. And one habit that may be most acutely threatened is the tradition of picking up a soda, bag of chips or energy bar at the gas station.

During its second-quarter earnings call on Thursday, PepsiCo executives said that sales at “impulse channels” like gas stations and convenience stores have been challenged, likely due to rising gas prices and the Iran War. As of July 13, the national average price for a gallon of regular gas was $3.87, according to AAA.

“We’ve seen a slowdown of the conversion of traffic into purchases,” Ramon Laguarta, chairman and CEO of PepsiCo, said during the earnings call. PepsiCo’s net revenue was still up 6.4% year over year during the second quarter. 

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