Convenience stores (C-Stores) provide quick and easy access to a variety of goods, from snacks and drinks to basic household items, making them a go-to destination for consumers in a hurry. However, with the rise of eCommerce, convenience stores are now facing increasing competition. C-Stores must offer incentives such as loyalty programs to entice customers to visit, while also innovating and providing a range of shopping options, including in-store shopping, pickup, or delivery, in order to stay relevant.
Loyalty
Loyalty programs are key for customer retention, as they offer a way for brands to drive customers to the store, personalize their shopping experience, and offer incentives. With increasing competition, brands must assess the lifetime value of each customer, and provide incentives, such as discounts or free items, in order to get customers to keep coming back and choose their brand over others. A recent study conducted by FIS found that 85% of consumers who enroll in a convenience store loyalty program are more likely to visit that store over a competitor.
Additionally, by keeping track of customer purchases and preferences, brands can gain valuable insights into their behavior and tailor their offerings accordingly. This data can be used to improve inventory management, marketing campaigns, and the overall customer experience. The McKinsey report also revealed that 54% of consumers are more likely to try a new product if it is recommended by a loyalty program.
Innovation
Convenience stores are among the last groups of retailers to fully adopt online ordering, even as customers increasingly prefer to place orders online rather than in-store. As a result, many retailers and restaurants have rushed to establish seamless ordering and fulfillment systems.
Many C-stores face labor shortages that make it challenging to balance the needs of in-store shoppers with online order fulfillment. Consequently, many have opted to overlook this exploding customer segment. Unfortunately this choice may drive away customers who prefer to order ahead, potentially leading them to visit a competitor instead.
Adopting innovative technologies is important across industries for businesses to maximize their labor, and growing their customer base. This can involve adding new ordering channels or establishing a robust loyalty program that engages with customers when they are in the “right place, at the right time” will make the shopping experience easy and enjoyable.
Personalization
Offering customers more options — including pickup and delivery — may seem like a departure from the high touch experience of shopping in-store. However, brands can now leverage technology to offer a more personalized experience than ever before. Utilizing customer data, such as order history, preferences, location insights, and frequency of visits enables businesses to engage with customers when they are nearby and offer personalized upsell opportunities when they are in-store.
How Can Flybuy Help?
The Flybuy Platform leverages location intelligence to engage with customers and provides retailers with insights along their purchasing journey. Stores can utilize location technology to drive traffic, prompt loyalty usage, and drive off-premise sales.
Loyalty and engagement solutions in the Flybuy Platform, have brands reporting a 5% growth in loyalty usage, a 7% increase in app downloads, a 42% increase in customer satisfaction, and a 10% boost in revenue.
The next generation of C-stores will be more digitally-focused, as they recognize the need to cater to the ongoing demand for omnichannel shopping. By embracing technology, businesses can provide a seamless shopping experience for customers and empower staff the tools they need for success.
Want to learn more about how Flybuy can supercharge your business? Set up a demo with our team below.
