The rise of digital retailing and home delivery have changed consumer demand and behaviour. This shift in consumers’ path to and point of purchase is impacting store visits and customer loyalty. Other types of retailers are adopting and implementing new strategies to cope with these changes, increasing the amount of competition convenience retailers are facing.
In addition to these shifts are the daily difficulties that convenience stores face, such as pricing rules, adhering to regulatory guidelines for controlled substances (alcohol, tobacco, gasoline), and using insufficient legacy practices to manage a retail business. As selling opportunities decrease due to these challenges and changes in the market, will your business be able to compete?