Today’s C-store customers are a different breed, with a new generation of wants and needs. How well do you understand and address these shoppers’ preferences?
There’s no doubt that convenience stores have experienced a radical transformation. Once a specialty source for gasoline, cold beverages and prepackaged, shelf-stable foods, now convenience stores have evolved into much more. Today’s C-stores operate as gas stations, grocery stores, restaurants and business services providers. They even offer dry cleaning and other personal services.
Along with the store format, the typical convenience store shopper has also changed dramatically. For example, statistics show that millennials buy at least one prepared food item from a convenience store weekly — marking a huge change from the historical shoppers who were only looking for cigarettes, lottery tickets, a cold drink or gas. Today’s busy consumers are relying on convenience stores for a much greater diversity of products, including fresh and prepared foods.
In order to offer all these diverse products — and still make a healthy profit — C-store owners need to know exactly what shoppers are looking for. But in today’s complex world, with increasing competition and so many external factors that impact the purchasing decision, how can convenience retailers predict the future with any degree of confidence?
The answer lies in leveraging the power of advanced technology. The manual methods and guesswork that C-store owners have traditionally relied on are no longer enough to manage the complexity of today’s retail landscape. Fortunately, today’s advanced software solutions are surprisingly easy to use and affordable — especially considering their high return on investment.
Anticipating, and Meeting, Local Consumer Needs
How do targeted software solutions like JDA Enterprise Store Operations anticipate shoppers’ needs with the high degree of accuracy C-store owners require?
First, JDA Enterprise Store Operations gathers the enormous volume of data convenience retailers already have related to demand, actual sales, inventories, deliveries and waste. Next, it considers external factors at the level of the individual store — including shopper demographics, emerging trends, upcoming regional events, nearby competitors, and local sourcing options for fresh and prepared foods. Then JDA Enterprise Store Operations applies analytics to create highly accurate forecasts and make strategic recommendations about product assortments, stocking levels, replenishment plans and other critical retail activities.
JDA Enterprise Store Operations is designed to target and satisfy shopper needs by ensuring that the right items are always in the right place at the right time. This powerful solution also protects C-store profit margins by enforcing the right pricing rules and policies. With its robust intelligence, automation and analytics, JDA Enterprise Store Operations creates an incredibly accurate forecast for all C-store items, including hard-to-predict items like fresh and prepared foods.
What kinds of real results can C-store retailers expect to achieve by using JDA Enterprise Store Operations to increase their understanding of shopper needs? Here are some actual JDA customer results:
- Sales increases of up to 4%
- Operating margin growth as high as 7%
- Inventory reductions of up to 10%
In addition, by replacing manual processes with the speed and automation of JDA Enterprise Store Operations, convenience retailers can reduce their ordering and administrative time by 80%.
Improved Shopper Satisfaction Starts Now
As competition increases — and consumers have even more purchasing options — C-store owners need to act quickly to attract and retain the new generation of shoppers.
As JDA Enterprise Store Operations delivers new levels of visibility, efficiency and intelligence in support of your everyday planning activities, you’ll gain a new perspective on the people who shop your stores. As you target their needs more effectively, the financial and productivity benefits will position your stores for success — no matter how the retail landscape continues to evolve.
Want to learn more? Watch JDA’s five-part video series highlighting the need to understand and serve consumers more effectively, as well as other opportunities to improve your C-stores’ performance.