Three Industry Trends for Leading Convenience Stores to Consider
I recently discussed three trends convenience stores need to be aware of in order to stay competitive in this Convenience Store Decisions article. Here are some of the highlights:
The convenience store space is continuing to evolve to keep up with industry trends and consumer demands. We see the following three trends as important for leading convenience store operators to consider in 2016 and beyond:
- Convergence through convenience and differentiation
Food retail concepts are converging. Shoppers are no longer surprised to see convenience stores that look more like restaurants or smaller format grocery stores that specialize in on-the-go offerings. Flexible infrastructures are needed as retailers adapt to changing store concepts, and there is a greater need for improved equipment operation and maintenance.
- Increasing importance on freshness and food quality
While the idea of convenience stores offering fresh, prepared foods is not new, the trend has accelerated over the past few years, and we anticipate it will continue to grow. This leads to increasing importance on authenticating freshness and food quality. Competitive retailers will begin to use intelligent facility systems data to substantiate how their foods remain fresh from “farm to fork.”
- Effect of changing regulations on operations
There are three key regulations that will impact foodservice retailers in the coming years. The Food Safety Modernization Act (FSMA) changes will result in an increasing importance on collecting and utilizing data related to the safety and integrity of fresh foods. EPA and DOE regulation changes will result in retailers needing to increase their focus on refrigerants and energy efficiency. And finally, workforce regulation changes and increasing labor costs will lead retailers to look to additional technology and automation for solutions.
Read the full article in Convenience Store Decisions here.
And to learn about five emerging trends for supermarket retailers, read this blog post.
President, Retail Solutions
Emerson Climate Technologies