Card skimming is still a major problem, especially in the convenience store industry. Forecourt POS systems are ripe for tampering and with the delay in EMV implementation granted, late-adoption retailers are an even greater target. With other areas of non-EMV-compliance drying up (department stores, supermarkets), thieves look for the 'weakest link' in the security chain- convenience stores.
Data security risks are increasing and not limited to credit card fraud. Thieves are targeting Human Resources and Loyalty programs to extract greater amounts of data; from names, addresses and phone numbers to social security numbers, health records and investment information. In some cases, this information is then ransomed back to the companies themselves- at exorbitant amounts and often without reciprocation.
Pinnacle continues to grow and promote the amazing team members that have made us a leader in convenience retail software- and industry innovation.
As our industry changes and evolves with new opportunities and challenges, so must retailers and those who serve them. Keeping up with new trends, emerging demographics, transitioning resources and technological advances requires continued engagement with industry leaders and organizations that are mapping how the future is affecting the convenience store industry.
In today’s environment of heightened data security uncertainty and evolving threats, convenience store retailers need tools dedicated to combat fraud and theft at the corporate and store level. Not only are there things you can do in your stores right now to prevent theft- team training to avoid scams, diligence in pump monitoring, installing address verification on POS and payment terminals, and updating to EMV- but Pinnacle has created an entire suite of security solutions you can use to defend your stores and protect your customers.
Continuing our commitment to payment speed, security and innovation, Pinnacle recently announced the launch of its Mobile Payment solution on the Affiniti™ Consumer Mobile app. This feature works in concert with Zipline (formerly NPC/NPCA), to process mobile payments as an ACH transaction.
Foodservice has come a long way since the introduction of the hot dog roller grill to become a mainstay of the convenience store experience. What started out as a transition to prepared foods and away from small deli counters has become the highest profit margin category for retailers—beating out traditional products like tobacco and alcohol. Capitalizing on this evolving trend is necessary for convenience stores to stay competitive.
This year, through our attendance at NACS State of the Industry, the Conexxus Annual Conference and our own Summit 2017, Pinnacle gained valuable insight into what the coming year and beyond will hold for our industry and the economy as a whole. We learned about how consumers are changing how they interact with retailers and how the online experience has moved into the stores themselves. We discovered how the new ‘mobile millennial’ is bringing new technology and innovations to the market – and changing the way promotions are effective. Additionally, new security threats, payment challenges and the labor ‘crunch’ are playing a crucial role in how Pinnacle meets and exceeds the needs of our industry- and innovates for the future.
Millennials – Who Are They? If you are like most retailers, you invest a lot of time and money in building a loyal customer base, and as part of that effort, you are trying to understand and target the up and coming Millennial Generation. Millennials are typically defined as those born between 1980 and 2000, although some studies make them a bit older or younger. This means they range in age from teenagers to early 30-somethings. This group is the subject of many studies and is on pace to be the most studied demographic in history, behind the Boomers who have been studied for decades. Everyone is trying to figure them out. Why?
Last week, Pinnacle President and CEO, Bob Johnson, hit the road again to visit our long-time client, Stewart's Shops, in Ballston Spa, New York. Stewart’s Shops has been in business for more than 70 years, continually evolving to meet the needs and changes of the industry. Today there are over 335 Stewart’s Shops located in 31 counties across upstate New York and southern Vermont, with two thirds of our shops selling gas.