by John Keller | Dec 15, 2022 | Customer News, Fuel Price Management, Fuel Price Management Solutions, Fuel Price Optimization, Fuel Pricing Software, Fuel Pricing Strategy, Fuel Pricing Technology, Fuel Software, Industry News, Price Advantage, PriceAdvantage, Retail Fuel Margins
Convenience Store News selects Sheetz as its 2022 Technology Leader of the Year for its forward-thinking take on retail technology. The announcement can be seen here.
Sheetz CEO Travis Sheetz said “Technology is a great enabler to all those businesses we are in and the customers that we serve,” he said. “We are very literal about not using technology for technology’s sake, but using it for what it can do to make our business better.”
On the operations side of the convenience channel, technology helps retailers with efficiencies and labor redistribution to focus employees on the more value-added parts of the business.
Additionally, technology helps with information. “The world is all about data,” Travis Sheetz said. “Not only who has the most data, but who uses it the most effectively. There are very few things today where technology can’t help you be better.”
by John Keller | Dec 6, 2022 | Customer News, Fuel Price Management, Fuel Price Management Solutions, Fuel Price Optimization, Fuel Pricing Software, Fuel Pricing Strategy, Fuel Pricing Technology, Fuel Software, Industry News, Price Advantage, PriceAdvantage, Retail Fuel Margins
Casey’s reported their financial results for their second quarter today.
- Diluted EPS of $3.67, up 42% from the same period a year ago. The Q2 consensus estimate was $3.16, so Casey’s handily beat the analyst estimates.
- Same-store fuel gallons were up 0.3% compared to prior year with a fuel margin of 40.5 cents per gallon. Total fuel gross profit increased 22.7% to $284.4 million compared to the prior year.
“The fuel gross profit dollars remained strong as our fuel team executed at a high level again and struck the right balance between sales volume and gross profit margin”, said Darren Rebelez, President and CEO.
Casey’s began implementing PriceAdvantage towards the end of Q4, 2018 and was fully implemented in the first half of 2019.
by John Keller | Nov 21, 2022 | Customer News, Fuel Price Optimization, Fuel Pricing Software, Fuel Pricing Strategy, Fuel Pricing Technology, Fuel Software, Industry News, PriceAdvantage, Retail Fuel Margins
As reported by CStoreDecisions in an article here, Sheetz is reducing the price of Unleaded 88 to $1.99 for the holiday season, starting November 21, 2022 and running through November 28, 2022.
This is the second time Sheetz has run a promotion like this. The first time resulted in a hugely successful public relations effort, with the story being run in numerous national news outlets.
PriceAdvantage is instrumental in making it possible to execute a complex pricing strategy like this one.
by John Keller | Nov 17, 2022 | Customer News, Fuel Price Management, Fuel Price Management Solutions, Fuel Price Optimization, Fuel Pricing Software, Fuel Pricing Strategy, Fuel Pricing Technology, Fuel Software, Industry News, Retail Fuel Margins
According to Fuel Marketing News, the Convenience Leaders Vision Group held its inaugural session on November 1, 2022. The article can be found here. This collaborative group of convenience retailing leaders will meet once a quarter to discuss and debate thoughts on market trends and disruptions, which will be shared through a series of trend reports. The first CLVG Trend Report will be released in early December 2022. The number of ideas presented during the first meeting, and the level of engagement, was impressive and is exactly what the founders had hoped would happen.
The CLVG is made up of well-respected industry leaders, 30% of which are PriceAdvantage customers including:
- Varish Goyal, Loop Neighborhood Markets
- Scott Hartman, CEO, Rutter’s
- Doug Haugh, President, Parkland USA
- Greg Parker, CEO, Parker’s Kitchen
- Joe Sheetz, Executive Vice Chairman, Sheetz, Inc.
- Kevin Smartt, CEO, TXB Stores
We look forward to tracking what the group releases in their quarterly Trend Reports.
by John Keller | Nov 16, 2022 | Customer News, Fuel Price Management, Fuel Price Management Solutions, Fuel Price Optimization, Fuel Pricing Software, Fuel Pricing Strategy, Fuel Pricing Technology, Fuel Software, Retail Fuel Margins
ConvenienceStore News has named Parkland USA President Doug Haugh as Retailer Executive of the Year. The article that includes an interview with Doug can be found here. It traces the chain’s rapid expansion from 20 company-owned stores to 212, and the development of their On the Run brand.
At the beginning of 2022, Parkland USA selected PriceAdvantage for their retail fuel pricing software. In a press release announcing this selection, Jay Erickson, COO of Parkland USA said “With the current fluctuations in fuel costs, supply, and demand it’s more important than ever to have a responsive and accurate retail fuel pricing platform. PriceAdvantage’s proven technology will enable us to be agile with our pricing, which will help strengthen our business and ensure our customers continue to benefit from competitive prices.” By helping Parkland make strategic, up-to-the-minute pricing decisions, they can be responsive to evolving demands with peace of mind that changes are rapid and accurate.
by John Keller | Nov 15, 2022 | Customer News, Fuel Price Management, Fuel Price Management Solutions, Fuel Pricing Software, Fuel Pricing Strategy, Fuel Pricing Technology, Fuel Software, Industry News, Retail Fuel Margins
NACS published an interesting article titled “EVs Are Hitting the Mainstream“. Here are some highlights:
- EV purchasers have morphed from tech aficionados to “the early majority, which is when the first sizable segment of the population begins to adopt the innovation”
- Sales of EVs are up 70% YOY through September 2022 as compared to ICEs where sales are down 15%
- Chevy is one of multiple car companies that are introducing EVs in the $30,000 price range next year
- Safe, readily available charging stations are still a concern
It’s this last bullet that is relevant to the c-store industry. Fuel retailers would be wise to follow industries such as Casey’s, Maverik, Sheetz, and Spinx, and focus their attention on adding charging stations in strategic locations.
