Prepaid gift cards are not a new thing to most of us in the United States. In fact, the US has been seeing a steady rise in the prepaid card industry for the last 20 years. There are many kinds of prepaid cards to choose from: phone cards, gift cards for local businesses, or even gift cards backed by major credit card companies.
These common items not only represent a large, and growing industry; they’re also a steady source of reliable revenue for many convenience store and gas stations.
So your retail store is selling quite well. You might even have your own line of products. All is going well, for the most part. That is, until you hit that dry month. Nobody knows why. Your customers could be losing interest. It could be a retail management error. Some months bring almost no revenue. One month turns into several. At that point, you have a trail of uncertainty to worry about.
As C-stores continue to adopt fresh food items and grocery store influences, an emerging trend is grocery chains launching their own c-store offerings. This turn of events makes sense, as larger grocers have the experience in providing produce and made-to-order deli items.
We’ve all seen the trend and heard the rumors surrounding spikes in gas prices around Memorial Day, July 4th, and Labor Day; but are those rumors and trends true? If they are true, what causes spikes in gas prices at those specific times throughout the year and how can your business best manage these occasions?
In this world of social media, it can sometimes be easy to ignore the old tried and true methods using signage to inform and educate customers. And while a good sign can’t track usage or provide analytics: there’s a reason we still fall back on the classics.
Category management, or at least the form in which we see it today, has been developed quite recently. If we look at just 10-15 years ago, we find that convenience stores would have brands and companies vying for the best product placement and the best promotion spots, in order to generate sales and glean the best profits.
A product, be it of any variety, has a certain life cycle, which begins when it is newly launched into the market, and ends when it finally loses the majority of its demand among the customers. The very final stage in the life cycle is when the product is no longer in as much demand as it was when it was experiencing a surge in popularity and when it is on the verge of becoming a liability for the company that produces and stocks it.
As a convenience store owner, it is important to always be looking for new ways to market your business. National chains are stepping up their c-store game, and even larger companies like Amazon are getting into the mix. The smart play is to become more proactive in the marketing department and to reach customers in ways that resonate with them.
Cloud-based businesses have a distinct advantage when it comes to efficient management and considerably lower operational involvement as well as costs. This is because a significant amount of data, which would otherwise be collected and processed manually, is then done in cyberspace, where there is virtually limitless space and computing capacity.