Store owners in the convenience store industry obviously rely on convenience to succeed. However, some fail to realize that in today’s retail landscape, convenience is a priority of every business. Most retailers are making changes to the standard retail store to improve the customer experience. Today, the fight to keep a retail business thriving is tougher than ever, as technology and consumer demands drive increased expectations in the retail environment.
While many companies are making changes in the standard retail store to improve the customer experience, many consumers are also moving toward convenience by way of e-commerce. 30% of the leading consumer group, millennials, are already buying groceries online and having them delivered to their home, while 55% are willing to try it1.
Convenience store owners must find ways to enhance the convenience factor at their business. Keep in mind that convenience is more than just providing an efficient store footprint and quick checkout. Convenience means finding ways to help customers accomplish the most gain with the least amount of effort and time. Complimentary services are the key to increasing convenience. With today’s technology, the variety of complimentary services that can be provided at c-stores are both plentiful and profitable.
ATMs
Using cash to pay for things, or even just carrying cash, is no longer a convenient option for the average American consumer. Most people are used to using their credit and debit cards to avoid the hassle of counting and carrying cash, as well as the risk of losing it. However, there are times when consumers still need cash. In our busy society, and no one has time to drive to their local bank branch ATM. This a perfect opportunity for convenience stores, small groceries, and gas stations that have an ATM. ATMs are a great driver of foot traffic, and studies show that those who use them spend about 25% more than other customers.2
Household Items
While many convenience stores focus on food and drink items, and rightfully so, investing in some common household items like paper goods and batteries are an easy way to boost sales. These items are great for consumers in emergency situations, traveling on the road, or for times consumers simply don’t feel like making a trip to a larger store. People who truly value the convenience of a small local store will appreciate the fact that they were able to find what they need, quickly and easily, in a c-store. If your store builds a reputation for offering true convenience, your customers will likely come back again and again.
Bill Payment
More store owners are allowing consumers to pay their bills in-store. Paying bills is an often inconvenient and mundane task, and having the ability to do this in the nearest convenient store, especially in the case of emergency, is huge benefit for customers. Today’s technology offers a number of different options for the convenience industry to provide this service. Self-serve bill pay kiosks increase foot traffic without adding any labor overhead for your employees. Store owners have the opportunity to gain revenue for offering bill payments, both in commissions and increased store sales. Studies show that bill pay kiosks result in an additional $25 revenue per customer.
Prepaid Cell Phones
There are many c-store consumers who may need access to a mobile phone for an affordable price. Prepaid options allow these consumers to have a mobile phone with much more simplicity than the typical service plans and contracts. Convenience stores that carry prepaid cell phones and allow customers to refill their airtime become a regular stop for these phone users. These users generally spend larger amounts than the average c-store visitor, and usually also purchase additional items.
Foodservice
In 2014, the Millennial population reported that 11.1% of their food and beverage stops were at convenience stores3. The average consumer is on the move and always looking for a great deal, so they appreciate c-stores that allow them the ability to grab a fast meal for a decent price. There are many foodservice partnership programs that make offering hot, fresh food items affordable and easy to do.
To truly maximize a store’s potential, owners and operators should keep in mind that while factors like speedy checkout and state-of-the-art payment technology definitely add to convenience, today’s consumers are looking for much more. C-store owners that give their customers the opportunity to accomplish several things at once are increasing their potential foot traffic, basket size, and total sales profits.