KSS Fuels Showcases Fuel-Store Link at NACS 2010 to help C-Stores Thrive in Current Market
Florham Park, NJ - September 23, 2010
While many challenges continue to face the entire U.S. economy, there is still opportunity for growth in the C-store industry, according to KSS Fuels. But one fact is clear: having a solid business strategy based on sound data is crucial to the success of a C-store in the current economic climate, says Bob Stein, president and CEO of KSS Fuels.
According to Stein, the key to profitability today is putting a whole-store pricing strategy in place. At the NACS 2010 conference, KSS Fuels will showcase its Fuel-Store Link offering to help retailers quantify the relationship between fuel volume and store traffic, and identify the best possible fuel volume by site to maximize total site profitability.
“It is no longer necessary to run a C-store business based on what seems right or in reaction to what the competition is doing,” said Stein. “Tools and technology exist today to provide real data to help retailers make informed, rational decisions about their business – from pricing at the pump to pricing in the dairy case.”
The Fuel-Store Link from KSS Fuels is a business intelligence (BI) tool that allows retailers to determine a pricing strategy as well as set appropriate volume targets that can achieve overall profit growth for a whole site or across a network of sites. “Too many retailers incorporate separate processes to determine fuel versus in-store pricing,” added Stein. “The most successful operators look at the total site in order to analyze and determine the correct pricing strategies for the entire store. The goal should be to focus the store’s fuel pricing and inside promotion strategies on the maximum combined fuel-and-store gross profit.”
With KSS Fuels’ BI tools, retailers can model historical fuel and store data for each site and analyze how fuel prices and volumes affect that store’s traffic and gross profits. The tools then compare that information against local competition and determine pricing strategies to optimize fuel volume and store traffic – leading to higher profits.
“Most retailers recognize the link between fuel demand and store traffic, but the two functions are often managed independently,” said Stein. “By looking holistically at this fuel-store interaction by site, retailers can increase fuel volume and ensure any margin cost is justified through increased store volume, or determine if fuel margins can be increased, offsetting any decline in fuel or store volumes.”
“In spite of the challenges facing our economy and the C-store industry, there are still many opportunities for C-store operators to thrive,” says Stein. “A data driven pricing strategy can be a key factor that drives profit as well as differentiates you from the competition and maximizes value to the entire site. Using technology to establish an appropriate pricing strategy for Fuel and Store results combined is now possible and the best practice way to manage the Convenience Store business.”
KSS Fuels will showcase its Fuel-Store Link solution during NACS 2010 in booth #1817.
ABOUT KALIBRATE TECHNOLOGIES
Kalibrate (formerly KSS Fuels) is the only global provider of fuels pricing and retail location intelligence, helping retailers fine-tune decisions to deliver on performance goals. Its proven software, analytics and consulting solutions draw on more than 20 years of expertise and insight into the needs and opportunities of petroleum retailers. Kalibrate has headquarters in Manchester, United Kingdom and Florham Park, New Jersey. The company also has a Center of Excellence in Tulsa, Oklahoma and sales operations in Florida, Illinois, Ohio, Texas, Canada, Brazil, China, India, Japan, Korea and Africa. For more information about Kalibrate, please visit Kalibrate.com.