Generation Z Consumers: Engaging with the Digital Natives

Generation Z Consumers: Engaging with the Digital Natives

By Elizabeth Kershaw, Client Services Consultant, Planning

In a previous blog, "Why Should Fuel Retailers Care About Millennials," we spoke about how the expectations from the millennial group of consumers differs from the generations that preceded them. We provided ideas on how retailers could begin adapting their offerings to ensure they evolved to meet the needs of this generation of consumers.

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Optimizing Your Capital Spend When Making Real-Estate Decisions

Optimizing Your Capital Spend When Making Real-Estate Decisions

By Anila Siraj, EVP of Research and Applied Data Sciences

When making real-estate decisions that will allow you to meet your strategic and financial goals, you need to maintain a big-picture view of the market, your retail network's place within that market and the performance of individual sites in your network. With millions of dollars on the line, how do you ensure you make decisions that will maximize your return on investment, across each site and the network as a whole?

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4 Ways Gas Price Analysis Can Help Fuel Pricing Strategists Improve

4 Ways Gas Price Analysis Can Help Fuel Pricing Strategists Improve

By Scott Barrett, VP Global Client Services

Mastering the fuel pricing strategy is more than just optimizing your pricing process. A successful location often has several, more powerful volume magnets than price: brand, hours of operation, fresh food offerings, even which corner of the intersection a site is located on. Pricing, then, is merely sharpening the knife on a sites' performance. But pricing teams have multitudes of data at their disposal — how can pricing strategists better incorporate this data into their gas price analysis?

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Opinion: Electric Charging Mistakes and Mitigators

Opinion: Electric Charging Mistakes and Mitigators

By Ian Thompson, Managing Director, Planning

Earlier this week, The Times of London published an article about a motorist who was left stranded when her electric vehicle ran out of juice on a four-hour journey — and all of the charging points for her electric car were out of order.

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A Closer Look At Electric Vehicle Penetration and Impact

A Closer Look At Electric Vehicle Penetration and Impact

By Mark Hawtin, Managing Director, Pricing

We've said it before and we'll say it again: Alternative fuels are shaking up the global fuel industry. In particular, the popularity of electric vehicles is growing exponentially, and it's not expected to slow any time soon. The latest Electric Vehicle Outlook Report predicts that sales of electric vehicles will shoot from a record 1.1 million worldwide in 2017, to a whopping 11 million in 2025, and then 30 million in 2030.

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The Power of Fuel Price Data: Handling

The Power of Fuel Price Data: Handling "Missingness"

By Anila Siraj, EVP of Research and Applied Data Sciences

We've said it time and time again, in order to thrive in today's competitive fuel retail market, you have to take a data-driven approach. If you're not using fuel price data to make decisions about your network, then you might as well be pushing buttons wearing a blindfold. By conducting a comprehensive competitive analysis, fuel retailers will understand:

  • Who their true competitors are
  • Key differentiators between their sites and their competitors' sites
  • The volume potential of each site
  • Daily, weekly and monthly demand cycles at each site
  • Market volatility
  • ... and more!

One of the most important drivers for sensitivity is relative price. It's true that actual price has some effect on sensitivity; when gas is cheaper, people will inevitably drive more. But at a micro-level, consumers are going to make decisions based on the relative prices of different sites. Data collection of competitor prices becomes critical in any competitive market where prices are rapidly changing and the relative position vis-a-vis your competitors is a strong driving force behind your share of demand.

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How to Tell If You're Contributing to Fuel Price Volatility

How to Tell If You're Contributing to Fuel Price Volatility

By Mark Hawtin, Managing Director, Pricing

If you're lucky, the gas prices in your market change only once or twice a week. In some markets, however, prices can change up to twelve times a day, presenting a major challenge to fuel retailers trying to navigate the market effectively. It's a fact of life that the volatility of fuel retail markets vary — and experience shows that markets evolve to become more volatile — but what triggers it? And how do you know if you're contributing to fuel price volatility in your market?

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Using Quadrant Analysis to Gauge New Gas Station Investment Costs

Using Quadrant Analysis to Gauge New Gas Station Investment Costs

By Janet Tooke, Senior Client Services Manager

New gas station investment costs are an integral part of any business decision — not only from a capital investment perspective, but also in terms of the time and effort it takes to find the right piece of land, negotiate contracts, design and engineer the site, and jump through hoops with local authorities.

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Convenience Store Trends Network Planners Can't Ignore

Convenience Store Trends Network Planners Can't Ignore

By Ian Thompson, Managing Director, Planning

If you're planning to expand your retail network of sites, current convenience store industry trends can significantly impact your decisions. From consumer preferences and brand affinity to fuel price sensitivity and geographic spread of alternative fuels, certain trends can tip the hat toward or away from the success of your sites, so it's important to stay informed.

Being as prepared as possible for big changes in the industry is essential for effective retail network planning — so today, let's discuss some of the biggest trends in convenience retailing over the last two years, and how these changes can affect your retail network growth planning.

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Understanding Disparate Demand Cycles Within Fuel Retailing

Understanding Disparate Demand Cycles Within Fuel Retailing

By Anila Siraj, EVP of Research and Applied Data Sciences

Within the fuel and convenience retailing market, demand and consumer behavior can often times be erratic and sensitive to factors that are out of your control. Across different sites, different daily, weekly and seasonal cycles of demand can develop. Understanding these cycles is critical to maintaining an appropriate strategy and maximizing your retail network's profitability. 

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