Three Key Industry Trends
The industry has changed a lot in a year-and-a-half and it’s probably just getting started.
In the words of Ferris Bueller, “Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it.”
The c-store industry moves pretty fast, too, so we thought it might be useful to provide readers a quick summary of three key industry developments together with links to articles that provide more details.
As the personal device (Smartphone, hand-held device, etc.) has become as good as ubiquitous in this day and age, it has opened up the possibilities for c-store reward and loyalty programs delivered and managed through the device. Find more information about them here::
- If you’re unsure of what a Loyalty Program is or how it works, Convenience Store Decisions lays out the basics for you.
- NACS takes a look at how such programs bring cost-conscious customers back.
- Convenience Store News spotlights how one fuel brand is successfully making loyalty work.
One of the most visible and consistent trends in the industry is the tremendous activity going on in terms of convenience store M&A’s (Mergers and Acquisitions). The sheer number of transactions is getting difficult to keep up with. Here’s some more info:.
- 7-Eleven acquired Speedway.
- Refuel has been extremely active on this front.
- Casey’s, who underwent a corporate makeover, made an acquisition of its own.
- An example of an acquisition on a smaller scale.
Those are the big stories, but we know there are smaller changes happening all the time in the industry, as the always informative Convenience Store Roundup from CSP Magazine informs us each month.
Convenience Store Redesigns
As convenience store retailers step up their game to compete with Quick Serve and Fast Casual restaurants, exterior appeal is more important than ever. As a result, convenience store designs have become more sophisticated, and in some cases, breathtaking. Here are a few examples of redesigns from several different market segments:
- Rebel updated the look and feel of its 400-plus convenience stores in California and Nevada.
- 7-Eleven is debuting its Evolution Stores with an emphasis on appearance.
- Kwik Chek has rebranded as TXB and has a new fresh look to match.
- fas mart not only got new ownership, but a new store design, as well.
- Here’s Wawa’s take on redesign.
- Davis Oil, refreshed the look of its Battle Creek, Michigan flagship store and ended up winning award.
While this SSCS Blog post has summarized broader industry trends, lots of little changes happen in our market all the time. The always informative Convenience Store Roundup from CSP Magazine is a good monthly source for more specific and localized developments.
Keeping up with the changes in the industry may be difficult for a convenience store operator, but it is not impossible if the right strategy is put in place with the right technology to back it. It helps to have a technology provider that understands the dynamics of the industry and has the solutions to help you adapt. If you are looking for such a partner, SSCS is ready and willing to assist you.