Pinnacle is pleased to announce Allied Electronics, Inc. and UTC Retail as sponsors for the upcoming Summit 2017 Client Conference, May 31-June 1, 2017 in Arlington, Texas. Allied, UTC and Pinnacle have a long history of partnership and collaboration, and both have been top tier sponsors of previous Summits, including Summit 2016.
What makes a strong loyalty program? The point of loyalty programs for retailers is to increase profits. To that end, loyalty programs should offer incentives to customers that not only drive traffic but utilize promotions with the most profit return and the least opportunity for loss. Moreover, for a loyalty program to work effectively, it should be keep the user’s engagement with trackable rewards and continually expanding features and benefits. Customer loyalty programs need to woo consumers to your stores. Once they’re hooked, you can continue to hold them in your thrall.
As 2016 draws to a close, we will take this month to review the many exciting opportunities and challenges Pinnacle responded to this year and what we have to look forward to in the coming year.
Mobile Apps aren’t a new thing at all by way of definition, albeit what we consider a mobile app in 2015 is nothing like its predecessors. The Palm PDA, the TREO, the Blackberry, all mobile devices of the early-90’s that can lay stakes as the pioneers of the mobile app. Their features were indeed limited by today’s standards; compiled applications that were fully contained on the device with no need to communicate to a host, or severely limited due to pre-GSM data networks.
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.
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.
As the fuel market becomes increasingly competitive and volatile, businesses are looking for ways to expand their profits and streamline processes. This can mean moving beyond their initial arena of operations and into fields that bring their own logistical, managerial and administrative challenges and opportunities. This can be particularly true for upstream fuel businesses looking to move 'below the rack' downstream.
At NACS State of the Industry, the prevailing wisdom was to move away from tobacco- and into more lucrative profit-margin rich areas such as foodservice. Foodservice accounted for 20.8% of in-store dollars, and 33.7% of gross profit dollars in 2015. Tobacco products contributed 35.9% of in-store dollars, though only 16.8% of gross profit dollars. “It’s no surprise that the top quartile does about two times the business of the bottom quartile does in most core merchandise categories.” Andy Jones, president and CEO of Sprint Food Stores, Augusta, GA said. “But food and dispensed beverage is where the top quartile has a vast difference over the bottom quartile. The gap between the top and bottom quartile is over five times in hot dispensed beverage and almost four times that in prepared food. In a nutshell: The top quartile companies in this room are killing it in foodservice.”