Yes I know, ‘phygital’ (retail) maybe just a buzzword that’s being trotted out again, but it’s having a renaissance; because the widely anticipated, and seamless merging together of physical and digital retail to better serve the customer, has a way to go. What’s more, I see an inequality in this confluence.
It’s a question common to all retailers running multiple stores: How do we cost-efficiently and accurately change prices and promotions on our shelves?
We know that tobacco (much like fuel) is historically a driving factor in customer traffic and loyalty for convenience stores. Typically, customers who enter the store for cigarettes are more likely to spend additional dollars on food, snacks and alcohol. But, costs per pack have gone up over the past year, and rebates, inventory management and resource allotment can often seem unsuccessful and result in tight margins.