Convenience stores’ day has dawned. The era of traditional, small stores offering a few convenience items has given way to big-brand, mega c-stores that tout prepared foods, extensive merchandise and endless beverage options. According to NACS, the number of c-stores across the U.S. grew by 1.5% from 2023 to 2024 for the second year in a row.
C-stores face both challenges and opportunities in an uncertain economy. On the one hand, consumers are increasingly scrutinizing impulse purchases commonly procured in convenience stores. On the other hand, c-stores may offer prepared foods at a lower cost than quick serve restaurants and grocery stores, drawing price-sensitive customers for quick meals and snacks.
Other uncertainties include the speed of electric vehicle (EV) adoption, which impacts the decision to deploy EV charging stations and the volatility of revenues generated from gas.
Emerging c-store brands have expanded their offerings, deliver a desirable customer experience and offer a variety of conveniences in an attempt to make themselves a preferred destination more than just a happenstance stop. Their presence raises the bar for other c-stores. As the landscape becomes increasingly competitive, operators must continue to enhance the customer experience, elevate convenience and accelerate transaction speeds, all of which requires the latest, greatest technologies. Consider some critical attributes that c-stores must achieve to thrive in an increasingly competitive environment.
- Speed – Whether on a long road trip or stopping by their local c-store for a few items, shoppers demand speed. Frictionless checkout accelerates transaction speed, reduces frustrating customer queues and reduces reliance on employees. Whether enabled through mobile payment technology or vision AI-enabled grab-and-go technology, c-stores’ ability to expedite transactions will drive traffic, loyalty and customer satisfaction.
- Convenience – Convenience demands flexibility. According to a recent survey, 50% of shoppers were interested in curbside service at their local convenience store and 52% were interested in delivery. C-stores must expand their multi-channel capabilities to maximize convenience for shoppers.
- Access – Shoppers want access to needed/desired goods. For c-stores, that means maintaining inventory – from accurate forecasting using machine learning to ensure the most frequently purchased items are on-hand, to leveraging vision AI to ensure fully stocked shelves. Convenience and speed are meaningless without item availability.
- Security – Nothing destroys brand trust like security problems. Security means leveraging video, access control, panic buttons and wearables to make employees and customers feel secure.
One thing’s for certain: technology will be critical to optimizing profitability and customer experience in c-stores. If you’re ready to advance your c-store experience using the latest technologies, talk to Telaid. Our partnerships with best-of-breed technology providers allow us to deploy solutions that let you realize your vision for your c-store, driving traffic and profitability.
