5 Unique Solutions for Convenience Store Management
With over 150,000 convenience stores competing for market share, the convenience store industry has been growing at breakneck speeds for several years now, and their success has drawn competition from an increasingly diverse set of retailers. Despite this success and growth, the industry faces several challenges that will force convenience stores to leverage convenience store management software and retail inventory analytics generated by inventory management systems in order to overcome and persevere.
“Convenience” is Now Only an App Away
A quick trip up the road to grab a few items has always been more convenient than the ordeal of heading to a grocery store or big box department store. With the rise in convenience-based mobile apps, more companies are starting to cash in on delivery services. Convenience stores can counteract the hit to their business by providing similar levels of convenience through their own mobile apps integrated into existing convenience store management software. Order-ahead services can allow the convenience of an all-in-one visit by customers looking to gas up and grab some essentials.
The Growing Demand for Healthy Alternatives
Confirmed by studies reported in Forbes as far back as 2015, all demographics are willing to pay more – even from a convenience store – for healthy foods. This demand has inspired grocery stores to install “groceraunts” in an attempt to steal market share from fast casual and quick service concepts by providing grab-and-go services on par with convenience stores in familiar settings. Convenience stores can cash in on this trend easily by partnering with locally prepared fresh and healthy alternatives and building the retail experience around the in-store cafe experience. With effective inventory management, convenience stores can hone in on shopper trends and provide access to the most sought after items and minimize the waste that comes with providing fresh options.
Convenience Takes a Backseat to Branding
In the past, convenience stores could rely on their reputation in the neighborhood to bring customers through the doors. With outsiders from the grocery and restaurant industry starting to encroach on the convenience market segment, it’s become difficult to differentiate anyone shopping experience from any other shopping experience. It’s now become crucial that convenience stores stand out with an appealing and engaging brand, and that they show customers the true meaning of convenience and service.
Beating Outsiders At Their Own Game
Just as grocery store brands and restaurants have tried to expand their own services to cash in on the boom in the convenience store segment, convenience store retailers have struggled to attract and retain market share by expanding services to further blur the line between “convenience” and the traditional retail experience in other segments. Leveraging an inventory management system with strong analytics capabilities can greatly aid retailers in addressing this challenge, as services and product offerings can be quickly adjusted to match shopper behavior and product demand.
Creating A Work Experience That Attracts Talent
The convenience store industry doesn’t have the best reputation for being a viable long-term career option. As the industry has grown exponentially, and more companies struggle to stand out from the crowd, the ability to offer high-quality service becomes the most defining factor of successful brands. In order to attract such talent, it’s important to offer a work experience that is easily managed so workers aren’t bogged down in the day to day of their jobs and they can focus on providing a world-class experience. An end-to-end store management software suite that automates and supports much of the inventory management in your operation gives employees that freedom. However, while the industry is doing a great job with the back end technology, there is an opportunity to improve upon customer and employee facing technology to support and improve engagement.
Better Convenience Store Management Is Just A Click Away
Success Systems understands the myriad of challenges facing the convenience store and gas station market segments. While advocacy from the National Association of Convenience Stores has helped the industry make strides on legislative issues challenging retailers, Success Systems provides convenience store and gas station retailers with the convenience store management software solutions, including automated gas station inventory and convenience store inventory management solutions, that will help retailers focus on providing great service without getting bogged down in operating tasks. If you’re looking to take your operation to the next level, reach out today to see how Success Systems can support your future success.
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