VentureBeat spoke to Daniel Kahan, Head of Loyalty for the W. Capra Consulting Group at the W. Capra Consulting Group, about convenience stores investments in mobile technologies, and how investments in mobile technologies improve customer experiences. Many stores and chains are making investments in mobile technologies in order to mitigate financial losses, while increasing sales for existing customers. Many stores and chain stores are banking on investments in cell-related knowledge to reduce the monetary damage while increasing total sales to existing prospects. VentureBeat spoke to Daniel Kahan, head of retention for the consulting firm W. Capra Consulting Group, about investments that have been made into cell know-how in convenience stores, as well as how they will augment customer experience.
With so few convenience stores having anything new to offer new customers, the loyalty programs and practices that engage customers are getting most of the attention. More so than restaurants and other retailers, convenience stores exploring contactless delivery need to take up the chance to recapture profits and customer loyalty that has been captured by third-party providers like UberEats, Instacart, GrubHub, and others. With 41% of consumers saying that they would be more likely to make trips to a convenience store that offers curbside pickup, according to the Mobiquity study, there is an excellent opportunity for your C-store to enhance their own experiences, pairing curbside pickup with a mobile app, in order to boost profits and customer loyalty. The future of the C-store boils down to shifting todays dependence on the in-and-out snack trip into a larger, redefined vision of convenience using a combination of emerging technologies and ultra-convenient, digitally-driven purchasing experiences.
The c-store industry is experiencing massive changes, and is facing a potentially massive loss in profits as the nation moves away from fossil fuel powered vehicles. Mobile technology and e-commerce have fundamentally altered how consumers shop for goods and services in ways that are even more profound, and yet the convenience store industry has failed to react. Initial hurdles of adoption challenged retailers, and the eventual synergy of integration has catapulted the convenience store industry into a new phase. Pay-at-the-pump technology, enabled by rapid consumer adoption of ATM cards, has changed the requirements for staffing, allowing the convenience stores to increase their own stock, giving rise to the C-store model that we know today.
The mobile program also allows easy integration with vendors fraud-management programs, which allows retailers to deploy optimized algorithms that mitigate fraud and limit false positives within their environments.
Whether retailers are rolling out or ramping up their mobile programs, or looking to adjust their tech stack or brand strategy, it is important to keep in mind the goals should be well-intentioned, tailored for this brand. Whether a retailer is implementing or enhancing a mobile program, or whether they are looking to amend their technology stack or brand strategy, it is important to remember the objective must be fit-for-purpose, customized to that brand. If social media is not a part of the brands strategy today, then trying to shoehorn social media into the mobile strategy is not likely to result in meaningful or measurable conversions.