Report examines C-Store retail strategies for 2018
Loyalty membership plays a big role in c-store choice
The loyalty marketing and technology firm Excentus (now owned by PDI Software) has published a report with the aim of giving convenience retail (c-store) operators a clearer view into the mindsets and motivations of c-store shoppers, providing a number of helpful insights into how they can build and keep a more loyal customer base and drive greater in-store sales.
The C-Store Shopper Profile report examines the interests and behaviors of over 1,000 American consumers through data gathered from a recent Excentus-Ipsos survey, providing a holistic view of convenience retailers' core customers: who they are, what drives them, what they value, and most importantly, what makes them loyal to one c-store brand over another. The report also looks at how personalized offers and rewards currencies can incentivize and change shopper behaviours.
The report provides a number of useful retail c-store insights, including:
- Loyalty shopper demographics that can inform a c-store's revenue and business strategy, including gender, age, marital status, education, income, and in-store spend
- The top reasons why customers choose to shop at a specific convenience store
- The factors that influence shopping behaviors and decisions on where customers shop
- Incentives convenience retail operators should consider offering, and the platforms through which they should offer them
The report also highlights the role loyalty programs play in motivating shoppers across demographics - for example:
- 73% of shoppers will shop more frequently (51%) or even exclusively (22%) at the convenience store where they are a loyalty member
- One out of every two loyalty shoppers (51%) are influenced by their loyalty program to make a purchase in addition to gas. This is slightly higher in males (60%) and people with children (59%)
- Customers who shop exclusively at the c-store where they are a loyalty member tend to be male (32% versus 11% female), 18-34 (30%) and have children
- Two out of five loyalty shoppers will spend more than $10 per c-store visit
"The convenience retail marketplace is fiercely competitive, and there is no greater advantage you can gain as a c-store operator than understanding your customers and how their behaviors impact your bottom line," said Brandon Logsdon, president of Excentus. "Our C-Store Shopper Profile provides convenience retailers with a single source of data they can use to improve their business - from attracting more customers into the store, to knowing how best to engage with each member to increase frequency and spend."
"Loyalty has become an integral part of the decision-making process for c-store customers, and the convenience retailers who leverage this data into their loyalty program strategy, and create rewards experiences that appeal to their customers' behaviors and preferences, will be most successful in the years to come," Logsdon continued.
The full report has been made available for free download here: http://excentus.com/c-store-shopper-profile
Sources: Excentus; Ipsos / The Marketing Factbook.
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