The migration to electric vehicles means convenience stores must reinvent themselves.
CJ Pakeltis, RizePoint
Historically high gas prices, new electric vehicle (EV) models, government sales incentives and the desire to become more sustainable are pushing more consumers toward EVs.
Some states, including California, are moving toward EVs to meet environmental goals, and plan to stop selling gas-powered vehicles altogether by 2035. Experts predict that the EV market will more than double by 2027, and that 45 percent of new car sales will be electric by 2035.
Since fuel revenue has historically been so significant for c-stores, the migration to EVs means convenience stores must reinvent themselves. This means transitioning from a grab-and-go model that’s a 10-minute stop – where customers gas up their car, then grab cigarettes, beer and a prepackaged snack for the road – to a destination, where they hang out for an hour or more to shop, eat, work and charge their cars.
The threat is that casual dining, shopping malls, etc., may replace c-stores as the travelers’ destinations. So, if your convenience store hasn’t yet started thinking about your strategy for reinventing yourself, it’s time.
C-stores need to make foodservice a meaningful part of their organizations and give their customers a reason to come and stay. Unfortunately, there are often negative perceptions around c-stores’ food and grab-and-go model, so brands should work diligently to change these perceptions, emphasize safety and quality, and build consumer trust. I recommend that c-stores: