Increase Shopper Frequency With Greater In-Stocks
It is no secret that increasing shopper frequency and retaining customers is key to operating a successful c-store. In the last few years there have been several top c-store chains that have been able to drive more foot traffic to their stores, which then leads to increased sales and profits.
C-stores have been a staple in our communities for both local shoppers and travelers who need last-minute or everyday products. They have come very far since the early days of just offering a few snack choices and ice while being open 24/7. Today, c-stores face much greater competition than ever before.
Fuel drives the majority of foot traffic inside many c-stores. However, gross margins on fuel are much less than what they are for food and other products sold in the store. Additionally, fuel alone may not be enough to attract new and repeat customers to your c-stores. Here are a few key things c-stores should consider when focusing on increasing shopper frequency.
Convenience
Let’s not forget the “c” in c-store is convenience! Why do customers shop at a specific c-store? Location or proximity to their home or work is one of the top reasons. However, some shoppers may go an extra fifteen minutes out of their way to get coffee they prefer rather than stop at the gas station down the street. The parking lot, store layout, and other elements are all factors which can make one store more “convenient” than another. While location is important, it clearly isn’t the only thing that matters to consumers.
Local Product Assortment
Product selection and variety are a crucial consideration for many customers. Today’s c-store shopper expects high quality products. This means c-stores need to have an array of higher quality food and beverage options that are fairly priced. In essence, c-stores need to have healthy options in addition to the expected sweet indulgences. To effectively compete, c-stores are being forced to keep up with ever-changing and highly complex expectations from various customer segments.
As a result, cookie-cutter store models no longer work. Each store location needs to have its own mix of products for its local market or shopper demographic. C-stores need to make sure they have the expected high-demand products in-stock on a regular basis.
Consistency
Consistency in product offering leads to repeat purchases. Simply having a wide variety of food and beverage options listed on store windows isn’t enough. C-stores need to have what customers expect in stock when they want it or need it. Loyal shoppers expect certain products to always be available just like they would in any other retail store. They also expect to have options and be able to try new flavors or assortments at any time. Providing a consistent product offering and making sure the right products are in-stock at all times is another key factor in bringing customers through the door.
Increase Sales on Autopilot
It can be incredibly challenging for the most seasoned c-store merchandiser to figure out exactly what food items to carry, what flavors of coffee to feature, how much inventory to have on hand for each product, and how to remain profitable in the process by not overstocking.
4R’s solutions are designed to make sure you have the right products at the right time and in the right place, which will delight your customers and result in repeat purchases, increased in-stocks, and higher sales. 4R’s suite of replenishment solutions leverage Machine Learning and AI techniques, enabling c-stores to utilize the latest optimization technologies.
Our solutions learn what works best in your stores each week and provides exception alerting when human input is required. . Once our solutions are in place at your locations, you can let it run on autopilot. If something comes up that requires attention, the system will alert you automatically. With our SaaS model, there’s no need for additional expensive hardware on site, and implementation is fast, requiring no additional IT resources.
To learn more about how 4R can help your c-stores, call (610) 644-1234 today.