The summer of 2022 has brought high temperatures and high gas prices. With the national average price of regular gasoline at historic highs of $4.57 per gallon, convenience retailers are seeing a decrease in in-store traffic and sales. According to a new survey released by the National Association of Convenience Stores (NACS), 59% of retailers say consumer traffic has decreased in their stores over the last three months. The survey also found that nearly half of all retailers (49%) also say that those shoppers coming inside the store are buying less compared to three months ago when gas prices were $1.50 a gallon lower. To combat this decrease in profit, convenience retailers are searching for new ways to bring shoppers back into the store.
Convenience Retail and Fuels Marketing Mobile Apps
One approach is offering discounts on fuel, merchandise, and food to shoppers who use the retailer’s mobile apps. According to NACS, more than 1 in 4 (29%) of retailers surveyed say they are offering cash discounts at the pump, and 31% are offering discounts for those who pay by app. Phillips 66, for example, has been promoting “Save up to 25¢ per gallon when you buy gas with the My Phillips 66® App”. In addition to saving money on fuel right away, their shoppers also have the opportunity to earn loyalty rewards they can apply towards future purchases. Given that inflation is headline news today, it's no surprise that consumers are willing to download apps to unlock these discounts and rewards. The Convenience Experience Report from Bluedot found that the top reasons why surveyed consumers download gas or convenience store apps include discounts on gas (86%), earn and track loyalty points (57%), protection against credit card fraud (40%), makes pumping gas faster and easier (39%), and to track gas expenses and receipts (34%). Consumers are realizing the benefits of using a mobile app, and while many already have, it’s time for gas station and convenience store owners to start realizing the benefits too.
P97 Networks, a leading connected commerce company that serves the retail fuel and convenience industry, automotive OEMS and consumer packaged goods brands, has data that shows mobile apps help drive fuel sales and increase profitable in-store traffic for retailers. P97’s technology has been implemented globally across 66,000 locations and has helped their retail customers achieve a 132% uplift in fuel sales and a 108% uplift in basket size compared to industry averages. P97’s Consumer Engagement Platform enables allows retail fuel and convenience store operators to offer targeted discounts to their shoppers in a variety of ways. Push notifications, emails, SMS, in-app offers, and interstitials can be combined and deployed to send shoppers the best mix of offers on fuel and in-store items at the right time. With P97’s technology, engaging with and influencing consumers so they come into the store has never been easier. To learn more about P97’s solutions, visit P97.com and schedule a demo today.