Maverik Expands Fuel Sales During Rapid Growth
Location: Western United States
Number of Stores: 280 and growing
Maverik is known for fueling customer adventures at more than 280 locations across 10 Western states, making it the largest independent fuel marketer in the Intermountain West. As a rapidly expanding fuel retailer, Maverik’s fuel pricing operation is key to their growth and success. In 2015, they replaced their internally developed fuel pricing software with the only third party solution that was powerful enough to fit their growing business needs yet nimble enough to expand and adapt.
The fuel pricing team had used a home-grown system for a number of years but realized that it was struggling to keep up with their growing company. After completing a thorough business analysis, Maverik determined that licensing a third-party solution, rather than redesigning their current system, was a sound business decision for both financial and strategic reasons.
"I cannot emphasize the importance of our business relationship enough. We feel deeply valued as a customer and the PriceAdvantage team shows genuine concern on how the product performs for our company."
Maverik’s list of fuel pricing software requirements were much like those of other fuel retailers: it had to be easy-to-use; quickly allow the addition of new stores and competitors; integrate with existing point-of-sale software; and provide robust analytics and reporting.
Carter Shaw, Maverik’s lead pricing analyst, spearheaded the software selection process. After reviewing the available software options, he found a unique differentiator with PriceAdvantage. “The PriceAdvantage team expressed a genuine desire to be a partner with our fuel marketing efforts. I cannot emphasize the importance of our business relationship enough – we feel deeply valued as a customer and the PriceAdvantage team shows genuine concern on how the product performs for our company.”
Rather than rely solely upon stores submitting competitor surveys just once per day, Carter can now import OPIS reports throughout the day and reference all of the pricing data points to make more accurate pricing decisions. “I now have a lot more visibility into the competitive data and have more confidence in my pricing decisions,” shared Carter.
One of Maverik’s primary goals was to be able to quickly bring on news stores, build their strategies and establish competitors. Not only did they accomplish this, but they can now price all of their stores more quickly – allowing them to easily expand without adding additional staff to their pricing team.
“A huge benefit of using PriceAdvantage is my ability to price fuel from anywhere using my phone,” explained Carter. “Before, I had to be at my desktop to make price changes. Now, I can just simply pull out my phone and push new prices in just seconds.” This give Maverik the ability to respond to the volatile market at any time of day and on the weekends – protecting margins and gross profit.