With over 700 stores in 11 states, there is a decent chance QT is in your neighborhood. They have a familiar name, their customer base is large, and their customers and employees love them. They, or someone like them, are very likely your competitor, and you have to figure out how to beat them at their own game. What is their game? Their pricing is good, but your pricing is competitive. The merchandise and foodservice they sell is comparable to yours. They have a loyalty program, but you may have a loyalty program as well.
Being competitive in the c-store industry requires attention to all areas of the business. Keeping store managers and area managers well informed of store and company performance empowers them to keep their stores in better running order. In other words, being competitive as a company starts at the store level.
Perhaps you’ve been in a large metropolitan area, close to an event that is just letting out, only to see millennials on the sidewalk on their smartphones. Chances are, they’re waiting for an Uber or a Lyft, the two most popular ridesharing companies in the country. Those in the 16-34 age range who live in metropolitan areas are the most frequent ridesharing users. What do their habits mean for c-store owners, in particular, their means of payment and ridesharing habits?
A mainstay of the convenience store experience, foodservice has come a long way since the introduction of the hot dog roller grill. Getting the most from foodservice requires tracking inventory data to mitigate loss from shrink, spoilage, and staleness during slow sales times—while using that data to forecast labor upticks and staffing cycles. The following will demonstrate how Pinnacle solutions can give you the competitive advantage in this realm.
There is a growing trend toward selfserve, quick-serve and interactive content in the convenience retail market. These solutions range from fast food kiosks to forecourt merchandising, and more. From a food service perspective, Palm Kiosks offer several advantages over traditional cashier-attended POS stations.
Managing adequate inventory levels and shrink are two critical and sometimes invisible components of any successful convenience store. If not managed well, companies may be ‘leaving money on the table’ regarding inventory. More importantly, their customers- the consumer who is relied upon for all profitability- will find these seemingly invisible components very visible. Without loyal clients’ preferred products in-stock, those consumers will leave unhappy- perhaps never coming back. And, with multiple social media outlets at their fingertips today, customers aren’t hesitant being extremely vocal about their experience!
Pinnacle’s approach to inventory solutions can be drilled down to the path of a candy bar. Convenience store retailers are constantly looking for ways to get the most from their merchandise, even to the last chocolate. In today’s competitive market, it’s not enough to just buy and resell for a profit. Retailers must stay ahead of the hurdles and headwinds of changing consumer tastes, market saturation, product staleness and shrink. At each step of the inventory timeline, using Pinnacle software and solutions guides the sales process, product mix, ordering, profit evaluation and movement flow- insuring you get the most from your snack merchandise, down the last candy bar.
In a diverse inventory such as snack foods, convenience stores need true business intelligence when it comes to managing their product mix. Varying demographic desires, regional flavor and cross spectrum economic factors all impact the merchandise a store carries. Competitive retailers need tools that collect and analyze snack food sales data quickly and accurately- showing trends and exceptions to make decisions fast. Critical data needs to be accessed in near real-time on web-enabled devices in the home office or while traveling. With EPM, Pinnacle's real-time business intelligence solution, workers across the enterprise can make immediate, informed decisions that have a significant, positive impact on the bottom line.
Pinnacle software solutions work to efficiently and expeditiously provide business intelligence throughout nearly every aspect of the convenience store business. Perhaps in no other category is this more clearly expressed than through snack foods and beverages. With varying demographic demands, the rise of healthy food options, increased ingredient quality standards, and a glut of new products; retailers can be overwhelmed by this challenging inventory. This month, we will show how retailers like you have used Pinnacle software solutions to meet those challenges and gain a competitive edge.
As summer comes to a close and the frenetic holiday season draws near, convenience store retailers don’t have any time to lose. Keeping up with ever increasing store traffic, maximizing profits on promotions and loyalty, and capitalizing on featured inventory can be overwhelming. As your business grows and evolves, you want solutions designed with your business in mind- particularly in a POS system. With Palm POS, designed specifically for the convenience store industry, you have the flexibility and control you need to keep operations running fast and efficiently.