Trade shows are the lifeblood of innovation in the convenience store industry, offering a glimpse into the future and a platform for businesses to learn, adapt, and thrive. In 2023, these gatherings unveiled critical insights for convenience stores, with a spotlight on loyalty programs and online ordering, amid the rising prominence of electric vehicles (EVs) and the growing significance of food service. Here are the top three takeaways our team collected on the road this year that will shape the future of convenience stores in the new year.
1. The Surge of Electric Vehicles and the Evolution of Convenience:
One of the most impactful revelations from this year’s trade shows was the escalating presence of electric vehicles (EVs) and the need for convenience stores to adapt to the changing landscape of transportation. As more consumers embrace eco-friendly alternatives, convenience stores learned that integrating EV charging stations can be a game-changer. Trade show discussions emphasized that EV charging is not just about providing a pump; it’s about creating an entire experience. Understanding customer expectations and providing amenities such as good lighting, curbside services, and even on-site facilities can enhance the overall customer experience and boost loyalty in the EV era.
Learn more: How to Retain Employees and Customers with Engagement Tech
2. Loyalty Programs as a Catalyst for Growth:
The second major revelation focused on the paramount importance of loyalty programs. In an era where customer loyalty can make or break a business, convenience stores learned that loyalty programs are more than just a trend – they’re a strategic imperative. Trade show discussions underscored that as loyalty programs become more sophisticated, there’s a need to revisit the basics. Simplifying the sign-up process to reduce friction and ensuring a consistent brand affinity across loyalty programs, in-store experiences, and social media marketing emerged as crucial elements. With the ever-growing competition, convenience stores recognized that a well-designed loyalty program can be a powerful tool for customer retention, driving repeat business, and fostering brand loyalty.
Learn more: C-Store Loyalty Report: 2023 from Paytronix
3. Foodservice Innovation and Shifting Consumer Behavior:
The third key takeaway centered around the transformation of food service within convenience stores. As the pandemic reshaped consumer habits, trade shows highlighted a significant disruption in breakfast as a food service daypart. Convenience stores learned that the breakfast rush, once a primary driver, has evolved, with customers shifting their focus to lunch and late-night meals. The need to adapt food offerings and timing became evident, with a realization that the post-COVID era demands a reevaluation of strategies. The takeaway for convenience stores was clear: flexibility and innovation in food service are essential for meeting evolving consumer preferences and maintaining a competitive edge.
Learn more: United Dairy Farmers: How a Nationally Ranked Loyalty Program Drives Customers from Pump to Store
In conclusion, convenience stores emerged from this year’s trade shows armed with invaluable insights. The rise of electric vehicles, the pivotal role of loyalty programs, and the evolving landscape of food service are shaping the future of convenience retail. By embracing these lessons, convenience stores have the tools to not only survive but thrive in an era of rapid change and heightened customer expectations. The journey ahead involves adapting, innovating, and, most importantly, putting the customer experience at the forefront of every strategic decision.