13 min read
The 3 Convenience Store Industry Trends You Need to Know
Convenience stores are more than just gas stations or quick stops on a long road trip—they supply on-the-go customers with crucial daily essentials....
6 min read
This article answers your questions about how to stock c-store shelves and offers valuable insights into how you can leverage trends and data to skyrocket sales. Let’s get started.
According to the National Association of Convenience Stores, a convenience store provides the public with a range of goods they can quickly purchase. The key difference between a convenience store and other retail businesses is the on-the-go nature of each transaction. The c-store is in a convenient location, making it easy for consumers to refuel, maybe grab a quick bite or beverage, and then leave.
Speed, convenience, and impulse purchases often drive c-store sales. Factors like the store environment, item prices, special deals, or exclusive rewards may also motivate customers to make purchases. Successful c-stores accommodate customers' busy lifestyles while creating a pleasant shopping experience.
Most convenience stores carry the same range of core products, including these four categories:
It’s essential to stock your store with standard items. Yet, it’s also important to track your store’s sales and identify items that sell particularly well for your audience.
By stocking your c-store with the most in-demand goods, you’re more likely to experience increased sales and guest satisfaction. These are three categories of high-demand goods in today’s marketplace:
Customers who find themselves without a bathroom necessity or needing an afternoon caffeine pick-me-up can rely on your c-store when they know you stock these high-demand items.
Key Insight: Online ordering streamlines guest purchases. Check out our guide for How to Maximize Digital Ordering to Boost Sales and Customer Satisfaction.
A growing number of customers want to purchase locally. Doing so is more sustainable, and guests feel good about supporting a local business. Additionally, seasonal stock gives customers the items they need for any given time of the year. Here are examples from those two categories:
Pro Tip: Ideas for local items to sell in your c-store include pastries from a neighboring bakery or coffee from a nearby roaster.
Filling your shelves with items that align with customer expectations is the baseline. If you want to stand apart from competitors, sell products based on these three trends:
You can take advantage of these trends to connect with customers on a more personal level. For example, a customer buying organic items from your store recognizes a shared value: eco-conscious shopping. This strengthens their trust in your brand and increases the chances of them becoming repeat customers.
Key Insight: Advanced technology is an asset to help your business stay innovative. Online services, mobile apps, and personalized customer relationship management software are examples of ways you can leverage modern technology to take your business to the next level.
Now that you know which products you can sell, use these three strategies to choose the right goods for your store and location:
Pro Tip: Where you place items in the store matters too. Keep goods that tend to be impulse purchases, like chewing gum or keychains, near the checkout counter. Or you can install displays at the end of shelves to highlight new products.
Break Time is an example of a convenience store chain with 74 locations across Missouri and Arkansas. They sell goods from hundreds of leading consumer brands yet needed a way to attract customers and encourage spending. That’s where Paytronix stepped in.
Paytronix helped Break Time build upon its existing loyalty program with the goal of boosting in store sales. The software automated the entire process, monitoring and rewarding guests for each dollar spent. Based on their spending, customers landed in one of four categories, each with progressively more exclusive rewards.
Break Time leveraged the natural competitiveness of leading brands stocked in their store to run promotions at no cost to them. This cost-saving strategy and personalized reward program messaging gave the c-store exceptional results.
Check out the complete case study to see how Break Time created a 25.6% increase in customer spend.
Stocking c-store shelves is an evolving strategy. Customer preferences change throughout the year, and larger industry shifts, like reward programs or technology trends, alter their expectations. Your challenge is leveraging these preferences and expectations to meet guests where they’re at, creating a memorable experience.
Whether you operate a new store or one that’s established in your area, here are two tips to keep inventory fresh:
Pro Tip: One of the best ways to ensure your store is always stocked with the most in-demand items is to seek customer feedback. It’s a direct line of communication to understand which items or services guests want to see.
Keep reading for our answers to the most asked questions about popular products sold at convenience stores.
Convenience stores sell items that on-the-go customers can quickly pick up. Common snacks include chips, dried fruit, and packaged sandwiches. You’ll also likely find fountain drinks, chips, and bottled water. Some convenience stores go beyond the basics to stock bathroom items, local artisan crafts, or breakfast sandwiches.
Salty snacks, bottled water, and soft drinks are among the most popular items customers purchase from convenience stores. But they can offer much more!
In the UK, convenience stores are usually called “corner shops” or “convenience shops.” However, these terms are interchangeable.
A supermarket or grocery store tends to stock everyday items like produce, dairy products, and toilet paper, but it will also have snacks and soda like a convenience store. Most customers who visit a supermarket intend to purchase a lot of groceries instead of a quick bite, a bottle of their favorite drink, or a travel-size necessity.
Customers will tell you how to stock your convenience store. Their buying habits, industry wide trends, and customer feedback give you valuable insight into how to serve them. With that said, it’s important to remain adaptable. The more agile your business model stays, the better you align yourself with your guests and continue to surpass competitors.
To understand your audience and industry demands, you need in-depth analytics. You can make data-driven decisions by leveraging the right tools to automate customer engagement and aggregate valuable data.
Paytronix is an all-in-one platform for collecting customer insights and using it to inform business decisions. Book a demo with our team today if you’re ready for steady, data-driven c-store growth.