C-Store Energy Drink Sales Lead Beverage Growth

Goldman Sachs' third-quarter Beverage Bytes survey shows convenience store traffic edging up as shoppers trim spending amid elevated gas prices.

Updated on Nov. 5, 2026 in Spending

Isometric editorial illustration of empty glass-front beverage coolers beside an unmarked fuel pump in oxblood, teal, and mustard, evoking convenience-store retail under high fuel costs. — Convenience store traffic edged up 0.3% in the third quarter as energy drink sales jumped 11% and shoppers trimmed spending amid gas prices at or above $4 per gallon, Goldman Sachs' Beverage Bytes survey found. AI Illustration. Upload story photo >

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Have high gas prices changed how much you spend on snacks and drinks?

Customer traffic in convenience stores grew 0.3% in the third quarter after a 0.5% decline in the second quarter, according to Goldman Sachs' Beverage Bytes survey. Industrywide energy drink sales rose 11% in the period, while retailers reported consumers downtrading inside stores as gas prices remain at or above $4 per gallon.

Why it matters

Elevated fuel costs are changing how Americans shop at convenience stores, with more frequent fill-up trips but smaller purchases once inside. The shift signals tighter discretionary budgets even as specific categories such as energy drinks continue to grow.

Retailers now project 0.6% traffic growth for 2026, down from 1.9% in the second-quarter survey, while 67% report no increase in nonalcoholic beverage promotions. The survey does not indicate whether these projections will be revised if fuel costs change.

The players

Goldman Sachs

Goldman Sachs is a global investment bank whose Beverage Bytes survey tracks beverage sales trends across the convenience store channel.

The details

Consumers are making more trips to fill their tanks but at lower fill rates, and retailers report they are trading down inside the store, which is shrinking basket sizes. Beer buyers are reportedly switching from cases to single servings to limit discretionary spending.

Second quarter (2026): convenience store traffic declined 0.5% and energy drink sales grew 10%.
Third quarter (2026): convenience store traffic grew 0.3% and energy drink sales grew 11%.
Next spring: 73% of retailers expect to increase energy drink cooler space.

Market Dynamics

The third-quarter Beverage Bytes results reverse the second-quarter traffic decline recorded in the same survey series, though retailers have lowered their full-year traffic forecast. Energy drinks continue to outpace other beverage categories as convenience stores reallocate shelf space toward the segment.

Shoppers making more fill-up trips at elevated gas prices may find that their in-store purchases shrink as they trade down to smaller sizes and single servings. Households watching discretionary spending may notice fewer promotions on nonalcoholic beverages, since most retailers report no increase in those offers.

The takeaway

Watch whether energy drinks keep outpacing other categories as shelf space shifts, since that trend shows where convenience store shoppers are still spending. Households can apply the same logic by checking unit sizes and single-serve options before buying in bulk when budgets tighten.

What happens next

Retailers expect to expand energy drink cooler space next spring, and Goldman Sachs projects energy drink category growth to moderate to 7.4% in 2027.