To evolve into smart, inclusive lifestyle hubs, convenience retailers need to identify and seize the emerging opportunities that extend beyond traditional fuel services.
A unique shift is taking place in South Africa's convenience retail space as retail convenience sales are fast making up almost half of the forecourt’s turnover.
Two key research findings were presented on the retail landscape and more specifically on the convenience side of the fuel retailers’ business, which showed that the scales are tipping in the fuel-to-convenience ratio, with convenience, QSR & FMCG contributing 46% of all sales in the retail forecourt space.
South African forecourts are operating in a highly pressured, value-driven market, where success depends on: Winning on price and promotions, serving convenience-led missions effectively and adapting to reduced brand loyalty and increased switching.
That was the clarion call at the Convenience Leaders’ Exchange held in Sandton, hosted by the Fuel Retailers’ Association in partnership with the international National Association of Convenience Stores, headquartered in the USA and attended by senior retail leaders from the fuel and retail convenience sectors.
