Are you searching for innovative strategies to captivate and retain customers for your convenience stores (c-stores)? If you find yourself navigating this challenge, you’re not alone. Amidst the pandemic, c-stores demonstrated remarkable adaptability by introducing enticing features such as curbside pickup, delivery services, and pre-packaged meal options. However, shifting consumer behaviors have emerged since then, with fewer daily commutes and a decline in RV road trips being notable changes. Moreover, fluctuating gas prices and inflation in in-store products have added complexity to the landscape. Amidst these fluctuations, one reliable constant remains–a robust loyalty rewards program. Here’s a quick summary of what consumers want in loyalty rewards programs and how GP Energy can get you on the road to success.
A loyalty rewards program can have powerful effects on a store’s consumers. Once consumers find a program that fits their needs, they take it very seriously. One survey conducted in 2023 by Upside revealed that 40% of loyalty members would stop shopping at a business if the rewards program were discontinued. 74% of the consumers they surveyed belonged to a grocery store rewards program, indicating a focus on getting a good value on everyday necessities. Yet only 35% belong to a fuel rewards program, so C-stores have a tremendous opportunity to promote a well-designed program and capture more sales.
So what’s most important?
The recipe for a strong program isn’t complicated. Overall, consumers want four things from a loyalty program and shopping experience:
- Value: How far does my dollar go towards purchasing what I need?
- Location: How easy is it for me to get to the business?
- Products: Is there a good selection of products I need included in the program?
- Service: Do the employees recognize my loyalty with superior service?
There is a downside, however. About 50% of new program members become inactive within the first year. This means there is no benefit to introducing an under-developed program to consumers. Unfortunately, many consumers find that there are few differentiators between loyalty programs, and if they don’t realize those four factors, the program will not retain their loyalty. The message to C-store owners and managers is clear: make your rewards program count, or don’t bother doing it.
At GP Energy, we offer two different types of loyalty programs for our clients. The first is through a partnership with Shell and their branded loyalty rewards program. These clients have the benefit of participating in a nationwide program with established name recognition. The second is a program offered by us, the Peak Rewards Program. This custom-designed program was developed with best-in-class principles for ease of use, simple maintenance, and maximum performance. Our expert team can work with you to determine the best solution for your business.
Is it worth the effort?
Paytronix, a Digital Customer Engagement Solutions provider for restaurants, convenience stores, and retailers, thinks so. They’ve evaluated loyalty rewards programs and concluded that C-store customers who belong to loyalty rewards spend 10-12% more than non-members. Paytronix found these programs to be particularly beneficial for C-stores offering prepared meals to their lineup of products and services, too.
According to Paytronix, “As c-stores attempt to move into the QSR space and offer prepared foods and specialty drinks, loyalty members will continue to be a foundation to build these services.”
GP Energy will make your loyalty rewards program a success.
GP Energy is your trusted C-store and fuel station expert. We work with convenience store owners and managers nationwide to help them implement products and services to increase sales and profits. From franchising options to loyalty rewards programs and add-on services, we’ll help you consider and choose options to get you on the fast track to achieving your goals. If you want a loyalty rewards program that works, contact us today, and let’s get started.
