Convenience Store News

DEC 2016

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58 Convenience Store News | DECEMBER 2016 | WWW.CSNEWS.COM 2016 TECHNOLOGY STUDY Enterprise + POS + Digital + Payment Systems + Business Intelligence TECHNOLOGY M ore than nine of every 10 Americans now own a cellphone and, even more important- ly, 86 percent of them rarely or never turn their phones off, according to a Pew Research study. Hence, it's safe to assume that the majority of existing and potential convenience store shoppers are looking at their phones throughout much of the day, whether they need to or not. To capitalize on this trend, more convenience store operators are adopting mobile-centric technologies to connect, engage and market to consumers where they are — the goal being to drive more traffic to their stores and ultimately boost sales and profits. The Convenience Store News 2016 Technology Smartening Up More c-store operators are using technology to capitalize on consumers' smartphone use By Brian Berk Spending on Technology/Automation Technology Investments After a banner year of spending in 2014, convenience store chain retailers tightened their purse strings a bit in 2015, returning to levels more on par with 2013. While nearly 94 percent of respondents said they spent on technology last year, the average spent per company declined by $423,000 to $1.45 million, while the median spent per company dropped by $45,500 to $280,000. 2015 2014 Spent 93.6% 96% Did not spend 6.4% 4% Average spent per company $1,453,300 $1,876,380 Median spent per company $280,000 $325,500 Source: Convenience Store News Market Research, 2016 Better management of store-level inventory/revenue is the No. 1 area c-store chain retailers expected to spend their technology budgets on this year. This is a change from the previ- ous year, when reducing theft/shrink was the top priority. CURRENT YEAR AGO Better management of store-level inventory/revenue 55.1% 45.4% Replace aging POS technology 50.9% 42.9% Reduce theft/shrink 43.5% 45.8% Better management of store labor expense 39.4% 37.6% Speed customer checkout process 39.0% 25.0% Increase customer payment options 36.8% 38.3% Social media 35.4% 35.2% Becoming EMV compliant at the POS 32.4% n/a Employee training 31.4% 33.4% Increase reliability/capacity of bandwidth for data communication 27.6% 37.5% Becoming EMV compliant at the pump 23.5% n/a Integration of systems 20.2% 16.8% Provide store manager with decision tools 18.5% 25.3% Implement business intelligence, reporting 17.6% 17.7% Improve HQ accounting systems 16.4% 15.2% Source: Convenience Store News Market Research, 2016

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