The NAMA Virtual Advocacy Summit revealed research showing the U.S. convenience services industry has a total economic impact of approximately $31 billion.
(CHICAGO) July 15, 2020 – With a total economic impact of nearly $31 billion, the U.S. convenience services industry experienced significant growth, based on data collected in Q1 of 2020. This research provides an accurate, detailed baseline for future comparison as the overall economy - including the convenience service industry - continues to experience unprecedented shifts in revenue and employment projections due to the coronavirus.
“This data arms the industry with an important perspective to share with elected officials, investors and other stakeholders. Prior to COVID-19, the industry had grown substantially – providing an economic impact of more than $31 billion dollars per year. That’s up nearly 20% from the most recent data in 2018,” said NAMA President and CEO Carla Balakgie.
Presented at NAMA’s first Virtual Advocacy Summit, this research shows that $31 Billion is represented in every community across the United States through traditional vending and micro markets — unattended retail — as well as office coffee and pantry services. The industry provides 159,000 good paying jobs, representing $9.4 billion in wages and contributes over $3.6 billion in taxes at every level of government.
Conducted by John Dunham & Associates and funded by the NAMA Foundation, the Convenience Services Industry Impact tool allows users to see the industries impact at the state or Congressional District level. The data will provide reliable numbers on jobs, direct and secondary economic impact and location of member industry companies.
Founded in 1936, NAMA is the association representing the $26 billion U.S. convenience services industry. With nearly 1,000-member companies – including many of the world’s most recognized brands – NAMA provides advocacy, education and research for its membership. Visit NAMA on Facebook, Twitter and LinkedIn.