“I think what’s important for our industry …we’re not just about fuel anymore. It used to be that’s what drove all the trips and things have changed. And so any modeling we get into has to model what’s happening to the total facility, not just what’s happening to your gas gallons or your gas margin. What are you doing to your beverage sales or your food sales based on what you’re doing with your gas pricing? It’s all one big puzzle at the end,” says Joe Sheetz. Read more about that discussion in the newest CLVG Vision Report “AI Predictive Fuel and Dynamic In-Store Pricing.”
From Convenience Leaders Vision Group Fall 2023 quarterly virtual meeting about the use of artificial intelligence (AI) for predictive fuel pricing and dynamic in-store pricing in convenience retailing: “I think what’s important for our industry …we’re not just about fuel anymore. It used to be that’s what drove all the trips and things have changed. And so any modeling we get into has to model what’s happening to the total facility, not just what’s happening to your gas gallons or your gas margin. What are you doing to your beverage sales or your food sales based on what you’re doing with your gas pricing? It’s all one big puzzle at the end,” says Joe Sheetz. Read more about that discussion in the newest CLVG Vision Report “AI Predictive Fuel and Dynamic In-Store Pricing.” Be sure to read "The Views” for CLVG members’ thought-provoking perspectives on how AI can assist retailers in optimizing pricing strategies without jeopardizing customer loyalty, emphasizing the importance of factors beyond price, such as location, cleanliness, staff, and overall customer experience. Don’t miss “In The Room” for the full transcript of the dialogue as it occurred, for inside track on the optimism and skepticism expressed by CLVG members. #conveniencestores #conveniencetechnology #AI #fuelpricing #thoughtleadership #retail myra kressner Roy Strasburger Eva Strasburger
