We break down the 6 key challenges that forecourt retail faces, as well as 5 great opportunities.
Here at CADA we’re currently helping a disruptive European fuel retailer to evolve their offering across their retail portfolio. Non-fuel is more important than ever before in forecourt retail, so if what you’re about to read sparks your interest and you’d like to arrange a 45 min slot to speak with us about transforming your retail offer to meet evolving customer expectations, get in touch.
Customer missions are changing as a direct result of the pandemic. There’s an increasing emphasis on service, convenience and improving the non-fuel offer in forecourt retail.
Covid has accelerated this pace of change, as in other sectors and introduced an element of reprioritisation.
Let’s look at six challenges facing forecourt retailers:
1: Fluctuations in demand
2: Supply chain disruptions
3: Direct store operating expenses
4: Liquidity implications
5: Workforce challenges
Increased labour requirements to meet demand for click-and-collect, ecommerce, delivery, as well as health and safety staff.
6: Changes in long-term buying patterns
Potential for the pandemic to alter consumer habits permanently, increasing online grocery shopping, demand for curbside pick-up / contact-free delivery and more.
1: Store image
3: F&B offer
Third party partnerships are strong and–in some cases–growing, due to increased requirements for technology and logistics.