Foodservice and Convenience Market : Industry Size, Share, Trends, Growth and Forecast 2020 – Acute Market Reports
Globally, the number of convenience stores and food outlets at service stations are expected to grow4.9% on average between 2015 and 2019. With motorists increasingly using service stations to purchase grocery items and more major fuel retailers partnering with convenience retailers, Verdict expects non fuel sales to rise over the next few years.
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Verdict has identified that the average frequency of purchases at service station retailers who are partnered with a local grocer or fast food retailer is higher than at fuel retailers that only offer own brand retail products. In the UK, some fuel retailers have seen average motorist expenditure increase by up to 13% due to strong partnerships with grocers and fast food retailers.
On average, motorists use the retail facilities at the service station one and half times per month compared to four times to refuel. In order to increase the frequency of retail purchases at the service station, it is important for fuel retailers to examine their product mix and establish how best to target the needs of motorists.
– Convenience is key to increasing site appeal. Small store formats are a success, not least when they are situated at service station forecourts. However the one size fits all approach is no longer suitable, and the format must adapt depending on the local demographic and passing traffic. Key shopper missions must be identified by retailers in order to make the most of a convenience store, and in turn, increase site appeal. This can be done by adapting the store layout to make it easier for motorists to complete a shop, or indeed just refuel.
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– New concepts and seasonal flavors will drive footfall. Depending on their customer profile, forecourts can offer their novelty-seeking guests new foodservice concepts such as bubble tea bars which would offer a fun alternative to their usual experience. Moreover, seasonal flavors promising an indulgent treat to motorists should be included in the menus of foodservice outlets and promoted in order to generate extra footfall and raise brand awareness.
Convenience and Foodservice at the Service Station, is an essential resource for service station retailers big and small looking to increase the productivity and attractiveness of their proposition to motorists across the globe. Verdict examines the key ways to adopt a low risk, high reward convenience and foodservice offer to the forecourt through detailed market data, and insightful analysis of the trends impacting key retailers and markets over the coming five years.
Reasons To Buy
– Understand the key future trends set to affect the future of the market to shape your future strategies.
– Benchmark your convenience retail business’s profitability by accessing competitors’ shop site network data
– Develop new marketing ideas by examining the shop strategies related to product mix, promotions, and partners employed by retailers.
– Examine the breakdown of different food product categories, to more effectively plan your product mix.
– Drive customer footfall at service station shops by understanding what features customers value and use most at European service stations and shops.
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Outlook and recommendations
Foodservice is evolving, and retailers must get on board
Convenience is key to increasing site appeal
Table of contents
Table of Figures
List of tables
Convenience market value
Service station shop numbers
Shop sites by country
Key foodservice data
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