by John Keller | Jan 14, 2014 | Fuel Pricing Software, Fuel Pricing Technology, Fuel Software, PriceAdvantage
The PriceAdvantage team is pleased to announce the immediate availability of version 2013.3. This version is a result of numerous feature requests from our customers.
Here are a few highlights of this new release.
- Display competitor survey prices based on the most reliable source on a store by store basis. In some cases the store may reflect the most accurate competitor prices using OPIS alone, while in other cases it may be best to display both OPIS and PriceAdvantage survey prices side by side for validation. You decide which source is best for which store.
- The new Volume Correlation report shows the trend of fuel volumes and prices with a configurable set of non-fuel metric options imported from PDI. This report helps determine the market profile of each store and the elasticity between fuels and in-store merchandise product categories such as food.
- The new Margin Percentage report shows calculated price with fuel volumes, and margin as percentage of price. This allows you to see side by side margins expressed as both cents per gallon and percentage of price, bridging the gap between traditional fuel pricing teams focused on retail fuels, and marketing groups who typically focus on non-fuel product categories.
- PriceAdvantage Web has a new menu navigation system, as well as analysis views, scheduled price changes, and a map view showing all stores and all competitors.
PriceAdvantage customers can contact their sales representatives to discuss upgrade options. Work is already well underway for version 2014.1 – stay tuned for more exciting capabilities, developed in close partnership with all our customers. We couldn’t do it without you!
by John Keller | Jan 3, 2014 | Industry News, Retail Fuel Margins
OPIS reported that retail fuel margin averages across the US dropped again this week. The average US retail fuel margin stands at $0.112 per gallon, dropping $0.028 per gallon since last week. The combined decrease over the past two weeks is $0.109 per gallon.
The six week average is $0.167 per gallon, down $0.005 from last week. The equivalent day in 2013 had retail fuel margin averages at $0.126 per gallon. After retail fuel margins bounced along the floor in January and February, March 2013 brought some welcome relief, and by the end of 2013 Q1, retail fuel margins jumped to $0.212 per gallon. We can only hope we’ll see a rise like that again this year.
by John Keller | Jan 3, 2014 | Customer News, Fuel Price Management Solutions, Fuel Software, Industry News
The Savannah Morning News awarded The Parker Companies “Entrepreneur of the Year”. The award is based on criteria such as growth and success, as well as philanthropy and community involvement.
Greg Parker, CEO of Parker’s Convenience Stores, attributed the company’s success on the idea that they worship data, and that they use technology in a way that other companies don’t.
A significant part of the data and technology that Mr. Parker is referring is the Parker’s PriceAdvantage implementation that includes PDI, VeriFone POS, GasBuddy OpenStore, and Skyline electronic price signs. “I’m looking for every single gallon of gas I can sell,” he said. “There is no way I’m going to let a competitor get up on me. We’re going to be the low price leader.”
Parker’s plans to open their 35th store next month, with 17 more stores in the pipeline.
The PriceAdvantage team would like to congratulate Parker’s on their ongoing success and rapidly accumulating list of awards. We look forward to our ongoing close relationship and our mutual success.
by John Keller | Jan 3, 2014 | Customer News, Fuel Price Management Solutions, Fuel Pricing Strategy
The PriceAdvantage team would like to congratulate Flyers Energy LLC on their recent expansion. Flyers Energy acquired the assets of Allied Washoe Petroleum, based in Reno Nevada.
Flyers Energy has been a PriceAdvantage customer since 2012 as part of their retail fuel software solution that includes PDI and VeriFone as components of their closed loop fuel pricing strategies. Flyers Energy selected PriceAdvantage to improve pricing consistency, communication with stores, and automated price change confirmation.
“PriceAdvantage allows us to automate our fuel pricing process while aligning our pricing strategy and improving communications across our network of sites,” said Tom DiMercurio, Director of Accounting at Flyers Energy. “Our goal is to leverage technology to reduce operating expenses and to provide a means of tracking the implementation of price changes through the whole process. PriceAdvantage is allowing us to accomplish both of these objectives.”
by John Keller | Dec 30, 2013 | Industry News
The latest OPIS report shows that average retail fuel margins across the US took a big hit this week, dropping $0.081 per gallon to an average of $0.140 per gallon.
That is the lowest retail fuel margin since November 29. The year to date average for 2013 finishes at $0.190 per gallon. The Q4 average finishes at $0.200, and the six week average is $0.172. On this same week last year, the average was $0.132 per gallon.
