Signs of the Times Overextended and anxious about the economy, consumers are responding to economic pressures by buying less, borrowing less and paying down credit card debt. The amount Americans owe on credit cards and other consumer loans plunged a record $21.6 billion in July, dimming prospects that the budding economic recovery will extend to
As the economy worsened, the number of adult Americans without bank accounts grew exponentially—and the use of prepaid cash cards climbed to new heights as well. Directo, a company that tracks pay cards to unbanked workers, reported that the recession has sent the number of unbanked Americans soaring to about 50 million, well up from
Despite the much-ballyhooed growth of chains like Walgreens, Starbucks, Dunkin’ Donuts and Wal-Mart, it is convenience stores that remain an important daily stop for the nation’s busy consumers. As a result, convenience stores represent a powerful sales opportunity for product and service supplier companies, CSD set out to find the industry’s top performers as identified
Driving business with new products is hardly a novel idea, but it’s also one that convenience store retailers rarely use to their advantage, said David Bishop, a partner with research and consulting firm Willard Bishop in Barrington, Ill. When retailers actively participate in the process of bringing a new product to the marketplace by helping
“In a business like cigars, where unit volume is growing 10% plus year-over-year, emerging strategic thinking in convenience retail suggests that retailers can grow even faster by employing a “price-for-volume” strategy for key products.” David Bishop, partner, Willard Bishop This summer, we examined how convenience retailers could manage the cigar category differently to realize above-market
Flavorful, high-quality blends continue to drive coffee sales. Whether runninga large chainor single store, astrong coffee programis an essential cornerstone.With more flavors and choicesavailable than ever before,operators must delicately tailorofferings to meet the needsof core customers. Attention toconsumer demographics andmarket trends will help determine the best selection. Testing the WatersD.J. C-Stores, based in Unionville, Mo.,
Last month, CSD offered astory about Fast Phil’s, a retailerin North Carolina that consistentlygoes head-to-head with supermarkets on its bread, milk and egg prices. The12-store chain still maintains its price war,but with the recent rise in milk prices, it’shaving a tough time of it. “We are still trying to keep our prices aslow as possible.
The category isbooming with demandfrom health-conscious adult consumersthat are seeking out sugarless gums andmints, while high-ring novelty items aredrawing in kids. This demand is a welcomed addition.The confectionery category is one of themost profitable in c-stores. According to aJuly 2007 Information Resources Inc. (IRI)report, convenience stores have shown a7.8% increase in the confectionery category over