- 26 Aug
Turn pennies into millions with fuel pricing automation
Everybody’s out there looking for pennies: Fuel customers are using mobile apps and will make challenging left turns for the promise of saving just a few pennies on a fill-up. Amid this, fuel retailers look for ways to wring a few pennies of profit from the sale. It’s a game won or lost on small increments, and folks on both sides of the counter know that those pennies add up.
In the past few years, discovering the “sweet spot” that brings customers off the street and grows fuel sale volume and profit has become easier. OPIS- and PDI-integrated tools let everybody from single-store operators to chains with hundreds of locations quickly access real-time competitive data. With a click, they can know which stores or regions are underperforming. They can easily see where they’re making the most or least money and where their pricing is getting beat by competitors down the street or miles away.
Real-time insight into volume, margin, and gallon performance gives leaders the ammunition they need to formulate an agile pricing strategy—on a laptop, tablet, or smartphone. But that’s only half the battle. That price now has to go to every POS, pump, and sign in every store. And the longer it takes the more money you lose.