Weekly C-Store Shopping Patterns

Slides:



Advertisements
Similar presentations
A Year of Fewer Clients For 2016, the American Bar Association (ABA) reports a 1.1% increase in the total number of “resident active” attorneys.
Advertisements

Plenty of Interest, Limited Inventory
Main Street Retail and the World
Excellent Early Forecast
Positive Gift Givers’ Market
Give Mom (and the Economy) a Lift with a Gift
Men Make a Fashion Statement
Retailers Jumping for Joy
Travel Agents Are Still in the Game
2017 Could Be an Abundant Year
The Ruler of Retail According to The Association for Convenience & Fuel Retailing (NACS), 2014 revenues for the industry totaled $696.1 billion, with.
Working Through a Slow Sales Period
Growth Gain Pain Regardless of who is doing the measuring, supermarket sales increased only marginally during Total grocery sales in all channels.
The Vet Set After generating total industry revenues of $28 billion for the year ending August 2014, veterinarians posted a gain of 7.1% in revenue for.
Thanksgiving More Food, More Football, More Shopping.
Hardware Stores Hold Their Own
A Questionable Quarter
Thunder Road Turnaround
Integrating Indoor and Outdoor Living
Status Quo Sales According to US Census Bureau data, total US retail jewelry stores sales were $ billion during 2015, only a 0.007% increase from.
The Up-and-Down Economy
More Vehicles, More Miles = More Auto Parts
Dollars Dominance The latest annual revenue numbers in Supermarket News’ 2016 Top 75 US & Canadian Food Retailers & Wholesalers list clearly reveal the.
Where Retail Isn’t Struggling
The Angling Attraction
GOOD NUMBERS MAKE FOR GOOD NEWS
Happier Americans Are Bigger Consumers
Broad Appeal Maximizes Sales
The Art of Understanding Men
2018 Will Be a Record Year “Twice”
Ecommerce Grabs More Holiday Shopping Dollars
The Womenswear Market, Statistically
The Outdoors Is Big Business
Menswear Market Generates Significant Sales Increase
What Americans Like To Do With Their Time Off
Growing Faster Than the Conventional Food and Non-Food Markets
The Focus Is on Consumer Confidence
Top Choices According to an early 2017 Market Force poll of more than 11,000 consumers, In-N-Out Burger was #1 in the burger category by being rated.
More Choices Attract More Guests
Another Healthcare Sector Experiencing Growth
Online Grocery Shopping to Enter Mainstream Sooner Than Expected
An Evolving Customer Base Challenges Banking Traditions
Plenty of Toy-Shopping Alternatives
Retail Gains and Consumer Confidence
Agility Is the Winning Strategy for Children’s Apparel Retailers
The Economy Is Providing a Solid Base for an Excellent Back-to-School Shopping Season
2017 Footwear Sales Didn’t Leave Much of an Impression
Industry Revenues Improve, But Still Negative Numbers
Developing a Clearer Picture of Who’s Buying Light-Vehicles
More Americans Fishing
A 20-Year Explosion in Pet Products Spending
Understanding Today’s Grocery Shoppers
Record-Breaking Holiday Spending Should Benefit Valentine’s Day
Total Travel Spending Tops One Trillion Again
A Big Increase in 2017 Sales and Profits
How Americans Allocate Their Leisure Time
The Robust Economy Is Barely Helping Department Stores
Another Holiday with More E-commerce Spending
A Toast to a Growing Industry
10 Years of a Faltering Market
C-Stores and Their Customers Are at the Mercy of the Oil Market
Going the Extra Mile Although total 2016 fuel sales at US convenience stores decreased 9.2%, or $549.9 billion, compared to $574.8 billion for 2015,
More Choices Negatively Affect Domestic Brands
Fatherhood by the Numbers
Record Revenues in the US/Canadian Market
More Americans Discovering the Joy of Camping
Industry Insights According to The NPD Group, total 2018 sales for the automotive aftermarket, which includes parts, tires, batteries and many other.
In Search of a New Winning Strategy
Recent New Light-Vehicle Sales…
Record-Setting Industry Sales Forecast
Presentation transcript:

Weekly C-Store Shopping Patterns According to TrendSource’s 2018 Convenience Store Report, 29.4% of respondents to the January–February 2018 survey said they make purchases at a convenience store 2 to 3 times/week, the largest percentage, with “once a week” second, at 17.4%. Women shopped 2 to 3 times/week more than men, or 33.3% and 28.3%, and once a week, 19.6% and 16.8%, respectively, while men said “only when I’m traveling” at almost twice the rate of women, or 11.3% and 5.9%, respectively. 2 to 3 times/week was the highest percentage for four different age groups: younger Millennials, 30.7%; older Millennials, 30.0%; Gen Xers, 31.9%; and Boomers, 26.3%; however, 19.7% of Silents said both 2 to 3 times/week and only when I’m traveling.

C-Store Success Starts with Location With 154,958 US locations, the convenience store industry’s primary value proposition for customers is “convenient” locations, which was the most important factor for choosing where to shop, or 4.07, on a 5-point scale, in the TrendSource survey. Safety was a close second with a 4.05 score; followed by gas prices, 3.99; hours, 3.64; product prices, 3.57; restrooms, 3.33; product offerings, 3.27; and brands, 2.73. Safety was first among respondents who said, “only when I’m traveling” (4.29) and those who shop a couple of times/year (4.12) and once a month (4.14). Gas prices were the most important factor for those who shop more than once a month (4.26).

From the Pump to the Store The c-store industry’s attempt at improving in-store merchandise may be working, as a January 2018 survey from the National Association of Convenience Stores (NACS) found 48% of fuel purchasers entered a store compared to 35% in a January 2015 survey. Somewhat surprisingly, more men, 55%, than women, 42%, entered a c-store, but less surprising, adults 18–34 were the largest age group, at 60%, with those 35–49 at 50% and those 50+ at 38%. At 34%, 3 to 5 minutes was the amount of time consumers spent shopping in a c-store, as well as the most for both men and women and similarly for all three age groups: 18–34 and 35–49, 35%, and 50+, 33%, however 45% of everyone spent 3 minutes or less.

Maximizing Summer Car-Travel Sales During May 2018, the NACS surveyed 1,501 US adults who purchase gasoline at least once or twice per month, and 38% said they were very likely and another 30% somewhat likely to take a trip or vacation during summer 2018. Adults 18–34 were most likely, by age group, at 46%, to take a trip or vacation during summer 2018, while 50% said they were very or somewhat likely to take more than one trip and 60% were very excited about their trip. A very large majority, or 85% of those very or somewhat likely to take a summer 2018 trip or vacation, said it would include travel by car and the largest percentage, or 32%, said they expected to travel by car for 12 or more hours.

The Delivery Option Although many retailers offer delivery of consumer purchases and an increasing number of consumers use this service, c-store customers appear to be less interested, as just 13.5% answered “very likely” or “extremely likely” to the TrendSource 2018 survey. Women appear to be more interested in c-store deliveries than men: somewhat likely, 24% and 22%, and extremely likely, 5.5% and 2.8%, respectively. This may be because women visit c-stores less than men. The data from the TrendSource survey also revealed the more consumers shop at a c-store, the more interested they appear to be in c-store deliveries, with 25.1% of those who shop at a c-store daily were either extremely or very likely to be interested.

Consumer Trends Impacting C-Stores Despite increasing revenues for the c-store industry, there has been a decrease of one trip per person per week since 2014, or 3.6 visits per week to 2.6. This trend has also occurred specifically among Latinx Americans, who are a primary and important sector of c-store shoppers. Since 2015, their visits have decreased 10% among those who buy food at c-stores at least three times per week. Another trend that is negatively affecting c-store is the increasing income gap between those with the largest and smallest incomes. As the costs of living have increased since 2007 for low-income households, their wages have been stagnant.

Advertising Strategies To increase c-store customer visits, consider offering a free cup of coffee or other incentive to customers who visit one more time weekly than their average weekly number of visits. C-stores on or near routes with large amounts of “snow- bird” travelers during the spring and fall could consider a promotion targeting these older adults, with, for example, pump-side delivery of food and beverage items, so they save the time of coming in the store.   Make sure you are doing all you can to engage Latinx American c-store consumers: signage in Spanish; one or more Spanish-speaking employees; food, beverage and merchandise that are their favorites, etc.

New Media Strategies Use an email and/or social media campaign with a poll/survey to gauge customers and local consumers’ interest in a delivery service from the c-store. Offer a digital coupon to all participants. Create short videos with employee presenters based on each of the factors that attract consumers to c-stores, listed at the bottom of page 1 of the Profiler. Show how you make the customer experience safer, the cleanliness of your restrooms, etc. Consider a “Travel with Us” email and/or social media campaign (especially in the mobile channel) targeting men traveling on business with a special digital coupon or incentive.