Four Considerations when Designing a Reward Program
There are many different types of reward programs which make it challenging to choose which one is best suited for your brand. Ultimately, there are...
1 min read
For some people, the news that both Target and Whole Foods are moving into the grab-and-go segment might feel like a threat. But for savvy c-store owners, it’s something else entirely: an opportunity.
When big players like Target and Whole Foods make a move, it behooves everyone in the food-sales industry to take notice. After all, they wouldn’t be doing so unless it’s likely to be highly profitable. And that certainly looks to be the case, as there’s been a 15% increase in prepared meals and snacks since 2010 and 25% of millennials eat in their cars on a daily basis.
Fortunately, convenience stores are perfectly positioned to take advantage of this opportunity. Nearly half of their customers are already purchasing food or beverage items.
And because c-store customers tend to make multiple visits per month, grab-and-go food is a prime way to increase their spend each time and encourage even more visits.
Convenience stores also have ample opportunity to promote their grab-and-go food options. Simple signage in the store can motivate customers to add food to their purchases, and signage in the forecourt may entice fuel-only customers to pick up a meal or snack. Video ads at the pump can serve the same purpose.
Although getting customers interested in grab-and-go options seems simple enough, getting them to actually make purchases is another matter. A long checkout line will send 74% of shoppers to a competitor, while 41% of them will change their minds about a purchase if the line is too long.
A grab-and-go program needs to deliver both a high ROI and an increase in visits. For maximum effectiveness, special attention should be paid to the “Four P’s” – product, price, place, and promotion.
Each of these four elements plays a crucial role in the success of a grab-and-go program.
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