- 31 Jan
Research Report: How Fuel Price Signs and Use of Color Impact Buyer Behavior
New research report investigates how fuel retailers utilize color to communicate which fuel commodities they sell, how their choices are viewed by consumers, and whether there should be an industry standard.
Skyline Products, a leading manufacturer of electronic fuel price signs and parent company to PriceAdvantage, recently announced the findings from a research project designed to explore the commonalities and correlations between the use of fuel price colors and fuel commodities sold.
The research report details what types of fuel price signs are being used, how many commodities are displayed on fuel price signs, compares how branded versus non-branded retailers use color, and how fuel retailers feel about standardizing fuel price sign colors. Additionally, the report reveals how color impacts consumers’ fuel buying decisions.
“The majority of Skyline customers purchase LED and electronic scroll fuel price signs that utilize green for diesel and red for unleaded prices,” said Chip Stadjuhar, President and CEO of Skyline Products. “But we also have retailers that use their own discretion for choosing colors – usually to support their unique, privately branded locations. I think the most impactful part of this research is how the consumer views the use of color when making purchasing decisions.”
Not all fuel retailers offer diesel, E-85 or E-15 – which has conditioned customers who utilized these specialty fuels to seek out retail stores that do. The research clearly demonstrates that these specialty fuel customers look for stores that display their specific fuels on external price signs. In fact, 80 percent of diesel buyers associate green with diesel and 70 percent of those consumers look for green on external price signs – 60 percent of those buyers will drive past a retail store that does not display diesel only to seek out a store with diesel displayed in green.
To learn more about how retailers are displaying their commodities on external price signs, how consumers respond to those price signs, and opinions from both retailers and consumers regarding the standardization of fuel price sign colors – download the full research report HERE.