A new report from the Coca-Cola Co. aims to help convenience-store retailers bring more customers into their stores.
Noting that c-store traffic declined 2.4% during the first half of 2017, the report looks at what’s behind the slowdown and how retailers can bring more shoppers into their stores.
“Providing actionable insights to retail customers is an important part of our Coca-Cola Commitment to be our customers’ best business partner,” Susan Gambardella, vice president of convenience retail with the Coca-Cola Co., told CSP Daily News. “This commitment is particularly important amidst the challenges of today’s convenience retail environment.”
The report looked at data from several of Coca-Cola Co.’s own consumer surveys, as well as data from Youbrandinc.com, Merrill Lynch, the Hartman Group, Simmons, Kantar and other sources.
It concluded that 65% of customers who don’t venture from the fuel pump into the c-store “don’t need anything when pumping gas,” while 29% don’t have time and 16% question the value of the products inside the c-store.
“As more retailers across channels push for more convenience, the traditional convenience-retail channel is losing its claim on convenience, which used to be able to better justify higher prices for goods,” Gambardella said. “So as shoppers have more options for convenience shopping, they are scrutinizing the prices more as well.”
To change consumer perceptions, Coca-Cola Co. suggests starting with millennials, the generation with the most buying power. Its global net income is expected to increase to $3.4 trillion in 2018, according to the report.