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Alright, buckle up convenience store owners and operators! It’s Tuesday, July 8th, and that means it’s time for your weekly dose of insights to keep you ahead of the game. I’ve scoured the latest headlines from Monday, July 7th, to bring you the 5 convenience store industry news items that should be on your radar. Let’s dive in and see what you need to be thinking about this week to maximize your success!

Here’s the lowdown on what’s making waves in the convenience store world and, more importantly, what you should be doing about

1. Hot Off the Shelf: EG America’s Latest Grab-and-Go Lineup

EG America is rolling out new and tempting grab-and-go food options, focusing on convenient and flavorful choices for the summer travel season. This includes the limited-time Cheesy Chicken Fajita Tornado (available exclusively at EG America stores) and a new Snack Wrap featuring homestyle or buffalo chicken. They’re also introducing a Sour Patch Kids Watermelon-flavored Hyperfreeze.

Why Should You Care? Grab-and-go continues to be a massive opportunity for c-stores, especially during peak travel times. EG America’s move highlights the ongoing demand for quick, tasty, and affordable meal solutions. Staying competitive means constantly evaluating and refreshing your own grab-and-go offerings to meet evolving customer tastes.

What You Should Be Doing:

• Assess your current grab-and-go selection. Are you offering enough variety? Are your offerings appealing for different times of the day?
• Consider limited-time offers (LTOs). Like EG America’s Cheesy Chicken Fajita Tornado, LTOs can create excitement and drive impulse purchases. Think about seasonal flavors or unique combinations.
• Evaluate your frozen beverage lineup. The addition of the Sour Patch Kids flavor shows the appeal of novelty in this category. Are there opportunities to introduce new or unexpected flavors?
• Pay attention to presentation and packaging. EG America’s new fresh food offerings in clamshell packaging demonstrate the importance of making grab-and-go look appealing and convenient.

More Information: NACS.

2. Pricey Patties: Navigating the High Cost of Beef in Your C-Store

Beef prices have reached record highs due to a combination of factors, including a historically low number of cattle in the US and continued strong consumer demand.

Why Should You Care? For convenience stores offering foodservice, particularly items featuring beef, this price surge will significantly impact your margins. You need to strategize on how to manage these rising costs without alienating your customers.

What You Should Be Doing:

• Review your pricing strategy for beef-centric items. Can you absorb some of the cost increase, or do you need to make slight adjustments to your pricing?
• Explore alternative protein options. Consider featuring more chicken, pork, or even plant-based options in your menu to offer customers more affordable choices.
• Optimize your inventory to minimize waste. With higher prices, it’s crucial to manage your beef inventory efficiently to avoid losses.
• Communicate with your customers. Be transparent about potential price changes or highlight value-oriented alternatives.

More Information: NACS.

3. Get Your Strawberry On: Capitalizing on the Summer Beverage Craze

Quick-service restaurants (QSRs) are embracing the summer season with a wave of new strawberry-themed beverages.

Why Should You Care? This trend signals a clear consumer preference for refreshing and seasonal flavors during the warmer months. Convenience stores are in a prime position to capitalize on this demand, especially with their strong beverage programs.

What You Should Be Doing:

• Introduce your own strawberry-flavored beverages. Think beyond basic soda – consider strawberry lemonade, iced tea with strawberry infusions, or even strawberry-flavored energy drinks or frozen beverages.
• Promote your summer beverage offerings prominently. Use in-store signage, social media, and your loyalty programs to highlight your seasonal drinks.
• Consider partnering with local strawberry farms (if feasible) for a unique selling point. Fresh, locally sourced ingredients can resonate strongly with customers.
• Look at what QSRs are doing for inspiration. While you don’t need to directly copy, understanding what’s popular in the broader foodservice landscape can inform your own strategy.

More Information: NACS.

4. Fueling Loyalty: It’s More Than Just the Price Per Gallon

Fuel retailers are facing a challenge in securing customer commitment, with many customers primarily driven by price.

Why Should You Care? In today’s competitive market, relying solely on fuel prices is a race to the bottom. Building genuine customer loyalty through your convenience store offerings and overall experience is crucial for long-term success and profitability.

What You Should Be Doing:

• Invest in your loyalty program. Make sure it offers tangible benefits that incentivize repeat visits beyond just fuel discounts. Consider points systems for in-store purchases, exclusive offers, or birthday rewards.
• Enhance your in-store experience. Focus on cleanliness, friendly staff, a well-stocked selection, and efficient service. A positive overall experience can be a powerful differentiator.
• Leverage technology to personalize offers and communication. Use data from your loyalty program and point-of-sale system to understand customer preferences and tailor your marketing efforts.
• Consider adding services beyond fuel and basic snacks. Car washes expanded foodservice options or even parcel pickup services can add value and encourage customers to choose your store over competitors.

More Information: CS News.

5. Preparing for Change: How Potential SNAP Cuts Could Affect Your Sales

Proposed changes to the Supplemental Nutrition Assistance Program (SNAP) as part of a potential spending and tax bill could lead to significant cuts and alterations in food benefits.

Why Should You Care? A significant portion of convenience store customers rely on SNAP benefits. Changes that reduce these benefits could directly impact their purchasing power and, consequently, your sales, especially for essential food items.

What You Should Be Doing:

• Stay informed about the progress of this legislation. Understanding the potential changes will allow you to prepare for any shifts in customer spending.
• Analyze your sales data to understand the proportion of purchases made using SNAP benefits. This will help you gauge the potential impact on your business.
• Consider offering more value-oriented options. As customers potentially face reduced benefits, offering competitively priced essential items and value bundles could help maintain sales volume.
• Engage with your local community and potentially advocate for policies that support food security.

More Information: Grocery Dive.

The Bottom Line

So, there you have it – your 5 key news items to digest this morning. The convenience store industry is constantly evolving and staying informed and proactive is the name of the game. By taking these insights to heart and implementing the suggested actions, you can position your store for continued success. Now go out there and make it happen!