For c-stores in the APAC region, digital transformation begins with a robust ERP.

It’s impossible to talk about the future of c-stores without mentioning digital transformation. The good news is, the future is here. For convenience and fuel retailers in the Asia Pacific region (APAC), investment in technology will reach $398.6 billion in 2023, according to International Data Corporation.

Embracing digital transformation paves the way for convenience retailers to improve their operations; adopting a data-driven strategy can increase their competitive edge at home and across the globe. For c-store operators, fuel retailers and marketers, PDI’s white paper, The APAC Guide to Digital Transformation for Convenience and Fuel Retailers, offers practical strategies on evaluating market needs and your organization’s readiness for digital transformation.

What is digital transformation and how can it help your business?

Digital transformation refers to how an organization uses technology, people and processes to improve business performance. The guide emphasizes that adopting digital technology is not enough. What’s more crucial is choosing the right platform and tools for your business needs. The right technology will enable you to do three things: focus on your customers, realize immediate improvements with incremental investment, and achieve the expected ROI by providing one version of the truth and end-to-end visibility across your operations.

4 Ways to Capitalize on Digital Transformation

Whether your business is just embarking on a digital transformation journey or ready to advance further, PDI’s APAC guide offers insights into how you can best capitalize on the right c-store technology to increase profitability and business efficiencies.

#1 For convenience retailers, digital transformation begins with a robust ERP.

If your business is among the 73,000 convenience stores across the APAC region, you need a powerful ERP platform as the cornerstone of your business. ERP helps manage daily store-level operations, from optimizing petroleum inventory to implementing workforce processes and running the back office.

Choose a unified solution that will streamline processes in all aspects of your retail operations. The right ERP solution will increase your organization’s productivity with time-saving automation that keeps c-stores running efficiently and frees up employees from low-value tasks to serve customers better.

#2 For fuel retailers, digital transformation is key to more competitive pricing.

Fuel retailers face unique challenges due to a volatile market shaped by the pressures of rising demand versus fluctuating oil production. When choosing a fuel pricing solution, consider automating manual processes to save time and money. Look for capabilities that allow you to adapt quickly to market changes and apply data-driven pricing strategies to maximize your competitive potential. Pick a solution that leverages artificial intelligence (AI) and machine learning to reduce the complexity of pricing and set the optimal price at any given moment with the help of integrated data and analytics.

#3 Loyalty programs help convenience and fuel retailers understand consumer behavior, thanks to digital transformation.

C-stores must rethink their entire marketing strategy based on a deeper understanding of consumer behavior. What do consumers really want? With a loyalty program, it’s easier than ever for c-stores to collect data from loyalty members through various channels (website, mobile app, text, email) for a better grasp of consumer needs. In the United States, 74 percent of loyalty members consider fuel savings important when gas prices rise, and 70 percent said they wanted those savings when prices drop. Although there’s no comparable statistics for APAC, it’s a strong indication that the currency of fuel savings enjoys a wide appeal. Cultivate consumer loyalty (or expand loyalty membership) and boost sales at the pump by offering fuel savings as a reward.

#4 For convenience and fuel retailers both, digital transformation can provide better business intelligence.

One of the biggest benefits of a digital ecosystem is the ease of data collection from a variety of channels. However, theamount of data available can become overwhelming without the right tools to capture the correct data and “translate” data into actionable insights. With the right analytics tools, your data becomes the foundation for fact-based decision making. In other words, you can leverage reliable business intelligence to make better decisions that will drive your topline revenue. Choose a solution that provides business intelligence capabilities across ERP, fuel pricing and loyalty marketing processes.

Don’t Go it Alone

Digital transformation is a journey and doesn’t happen overnight. An experienced technology partner can help ensure a smooth transition for late adopters and successful expansion for technologically-mature organizations.

What qualities should you look for in a technology partner?

The guide recommends two things: choose a software solution designed specifically for convenience and fuel retailers and engage with a partner that has a proven track record of delivering measurable outcomes for businesses like yours.

Digital transformation has helped fuel APAC’s economic success in the previous decade. Digital technology will continue to drive the transformation of APAC businesses into highly adaptable organizations that can seize new opportunities and win big in the global market.

Did You Know: Your Source for PDI News provided by PDI, the leader in enterprise management software for the convenience retail and petroleum wholesale markets.