Insights reveal how convenience retailers and
brands can leverage evolving consumer behaviors in the store and at
the pump
ATLANTA, May 22, 2024
/PRNewswire/ -- PDI Technologies, a global leader
delivering powerful solutions and insights that serve as the
backbone of the convenience retail and petroleum wholesale
ecosystem, today released the latest iteration of its "Tracking
Convenience Report: From the Pump to the C-Store," an in-depth
analysis of key developments in the convenience retail and fuel
market.
The report encompasses data from PDI Technologies and GasBuddy,
a PDI company, and covers the latest industry trends. Key findings
reflect how evolving consumer behavior in-store and at the pump
impacts the convenience ecosystem, including data on year-over-year
trends for in-store category sales and affinities that help drive
pump-to-store conversion. The report also provides actionable
insights and analysis for fuel retailers, wholesalers, and CPG
brands.
Key findings from the report:
- Retailers pivot to foodservice. In 2023, many retailers
prioritized foodservice and dispensed drinks, mitigating some of
the lower growth rates in the largest traditional in-store sales
categories.
- Falling gas prices bring good news. Lower fuel costs
year-over-year helped contribute to an overall recovery in trips
and greater predictability about what c-store operators could
expect across dayparts.
- New products make a big splash. A product spotlight on a
major energy brand's product launch reveals how new products can
help brands rekindle relationships with loyal customers and attract
new ones.
"Lower gas prices are a win-win for both consumers and
convenience retailers," said Patrick De
Haan, head of petroleum analysis for GasBuddy. "For
households feeling the pinch of inflation, paying less at the pump
provides some much-needed financial breathing room. For retailers,
lower gas prices mean more customers are likely to hit the road and
make an extra trip to their stores. With fuel costs less of a
deterrent, there's more opportunity to entice drivers to come
inside and make additional purchases while they're filling up."
"In-store trips over the last year reflect the dynamics of
consumers who continue to spend at high rates and others who are
more acutely feeling inflation impacts," said Greg Crow, Vice President of Insights at PDI.
"It remains critically important to purposefully engage consumers
who might not typically make it inside the store. Understanding the
connection between fuel prices and in-store shopping habits can
help both retailers and brands build customer loyalty and drive
sales growth."
To learn more, download the full report: Tracking Convenience
Report: From the Pump to the C-Store.
About PDI Technologies
With 40 years of industry leadership, PDI Technologies, Inc.
resides at the intersection of productivity and sales growth,
delivering powerful solutions that serve as the backbone of the
convenience retail and petroleum wholesale ecosystem. By
"Connecting Convenience" across the globe, we empower businesses to
increase productivity, make informed decisions, and engage faster
with their customers. From large-scale ERP and logistics operations
to loyalty programs and cybersecurity, we're simplifying the
industry supply chain for whatever comes next. Today, we serve over
200,000 locations worldwide with solutions like the Fuel Rewards®
program and GasBuddy®, two popular brands representing more than 30
million users. Visit the PDI Technologies website.
About GasBuddy
GasBuddy is the leading fuel savings platform providing North
American drivers with the most ways to save money on gas. GasBuddy
has delivered more than $3.5 billion
in cumulative savings to its users through providing real-time gas
price information at 150,000+ stations, offering cash back rewards
on purchases with brand partners, and through the Pay with
GasBuddy™ payments card that offers cents-off per gallon at
virtually all gas stations across the US. As one of the most highly
rated apps in the history of the App Store, GasBuddy has been
downloaded over 100 million times. Acquired by PDI
Technologies in 2021, GasBuddy's publishing and software
businesses enable the world's leading fuel, convenience, QSR and
CPG companies to shorten the distance between the fueling public
and their brands. For more information, visit www.gasbuddy.com.
For more information, contact: pr@pditechnologies.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/pdi-and-gasbuddy-release-new-tracking-convenience-report-from-the-pump-to-the-c-store-302152527.html
SOURCE PDI Technologies