To thrive, convenience store operators must reimagine and transform the way they do business.

Last October, we published a blog about the booming convenience retail industry in APAC. It had been just a few months since we opened a Regional Centre of Excellence in Bangkok to help APAC customers and convenience retailers support and scale their operations.

A lot has changed since then. A short time ago, the first cases of COVID-19 were reported in the region and brought seismic change to the world as we knew it. In a recent conversation with my good friend and colleague, Paul Grayling, we shared our insights about the situation in our regions. By the end, we confirmed once again that the challenges our industry is facing are largely the same, regardless of geography.

APAC’s Convenience Retail Boom – Then and Now

Last year, APAC’s convenience retail industry was expanding by 10 percent year-over-year, according to Nielsen, a global data analytics company. Now, Forrester predicts that the global retail market will lose $2.1 trillion in 2020. Losses in the APAC region alone could reach $767 billion, which would be a considerable decline from 2019.

But there’s hope. After bringing much of the world’s economy to a halt, some areas, including parts of APAC, are beginning to reopen. Thailand, for example, began allowing certain businesses like outdoor markets and pet groomers to reopen as of May 3, even though the country extended its state of emergency declaration and guidelines through the end of the month.

According to Nielsen, COVID-19 is likely to be the driving force behind faster and higher levels of tech adoption among consumers. So, how can convenience retailers thrive in this new environment? Well, they must reimagine the way they do business and transform.

Shell provides an excellent example of how to put this into action. In a recent interview with Global Convenience Store Focus, the company reported that its China locations were able to outperform competitors due to expanding its offerings and services, as well as digitally connecting with customers through its loyalty program.

In addition to taking care of their employees, operators have to adopt the necessary practices and technology to deliver a safe and satisfying customer experience while securing their profits.

Reimagining Digital Transformation
A Webinar For Convenience And Fuel Retailers

Supporting C-Store Operators with Technology

Here’s how best-in-class technology and domain expertise can support the APAC convenience stores and help operators throughout the fuel supply chain optimize their operations and unify their business:

Convenience retailers and petroleum marketers: For this sector, running the back office presents unique challenges that call for unified operations across the value chain. Whether it’s managing petroleum inventory when prices and demand are fluctuating or scheduling employees’ shifts and adjusted duties to keep essential businesses open and safe, enterprise resource planning (ERP) solutions can streamline business processes and provide end-to-end visibility into all aspects of convenience retail and wholesale petroleum operations. A solid foundation like this allows you to focus on adapting your business model to seize the opportunities that arise amidst the crisis, like home delivery or curbside pickup, and adjusting your inventory to what your customers want and need right now. In this sense, historical trend analysis is no longer a viable solution, but instead you can count on real-time, basket-level data analysis for actionable insights.

Petroleum marketers and jobbers: With fuel demand having reached a historic low, these operators really need to make every liter of fuel count. Streamlining the fleet dispatch process all while ensuring driver safety and security of company assets can lead to substantial reductions in operating costs. Increased visibility and control from the terminal to the pump is even more important when organizations find themselves in an unprecedented situation with uncertainty about the timeline to recovery. Finding a solution that can increase efficiency by automating the complexities of fuel logistics, boost productivity, and lower operating costs is critical to their success.

B2B wholesalers and fuel retailers: Fuel retailers and petroleum wholesalers are increasingly challenged to intelligently navigate the complexities of fuel pricing. When you add a plummeting fuel demand to the equation, oil prices reaching the lowest we’ve ever seen and fluctuating oil production, the need for effective, data-driven pricing strategies becomes apparent.

Optimizing Fuel Prices to Navigate a Crisis
A Three-Part PDI Fuel Pricing Podcast Series

With the right technology partner by their side, local convenience retailers, petroleum wholesalers, and carriers can position themselves to survive now and thrive in the future in a global, digital economy.

You can thrive in today’s digital economy. Contact us today to learn how we can help you transform your business.