3 Big Numbers is a weekly column that looks at a few key details from around the c-store industry.
There’s no denying the power of energy drinks. At the 2026 NACS Show, major brands and newcomers alike showed off a variety of flavors, formulations and fun marketing approaches.
However, while the vibes are good, the numbers paint a more complex picture. Goldman Sachs just released some interesting figures as part of a report on beverage sales in c-stores. The firm asked leaders representing 15,000 stores how drinks sales are going, and found that slower growth may be ahead in some key areas.
In this week’s “3 Big Numbers,” we look at Q3 and how convenience retailers see the energy drink category’s trajectory.
11%
C-store energy drink sales growth year over year in the third quarter, according to the Goldman Sachs report
Convenience retailers indicated they saw an 11% increase in energy drink sales year over year during Q3, according to the report. That was slightly stronger than the 10% reported in Q2.
The retailers also said that because of a strong Q3, they expect overall year-over-year growth in 2026 of 12%, which is higher than the 11% full-year growth retailers said they expected in Q2.
However, less than 10% of retailers told Goldman Sachs that they expect to increase shelf or cooler space for energy drinks significantly this fall. Most stores plan to keep the same amount of shelf space they currently have.
7%
Expected c-store energy drink sales growth in 2027
While c-store retailers expect full-year energy drink sales to grow by double-digits this year, they also expect that growth to temper to 7% next year.
The report noted this is still a “healthy” level of growth and pointed out the decline is partly due to the strength of this year’s sales.
Notably, 74% of the retailers surveyed said they expect to increase their energy drink shelf and cooler space next year. One of them said they plan to make more space for up-and-coming brands like Gorilla Mind and Monster’s Flrt line.
-1%
Celsius’ year-over-year sales change at surveyed retailers in Q3
The strength in energy drink sales is reflected in the performance of individual brands. Those surveyed reported a 16% Q3 sales gain for Monster, a 10% increase for Red Bull, a 9% boost for C4 and a whopping 47% gain for Alani Nu.
However, there were two exceptions among the brands Goldman Sachs listed.
First was Celsius, with sales down 1% year over year in Q3, according to the survey results. Retailers also adjusted their full-year sales growth expectations for Celsius to 3%, down from what they expected in Q2, and said they expect the brand’s 2027 sales to grow by about 3% as well.
The other was Bang, a beleaguered brand whose parent company filed for bankruptcy in 2022 and which Monster acquired in 2023. Retailers reported that brand’s sales dropped by 9% in Q3.
