Cruising into 2024: 5 Trends in Electrification and C-Stores

In 2024, the world of electrification and convenience store (C-store) landscape continues to evolve, building on the exciting innovations of the previous year. The appetite for electrification services is surging, driven by strategic investments and a collective commitment to sustainable mobility. Consolidation is not just a business strategy; it's a fundamental shift towards a more integrated and responsive industry. At the forefront of this evolution are the leaders at OWL Services, keenly observing five major trends that will shape the industry this new year.   

1. Electrification in Full Swing: The EV transition gains momentum, with travel center operators and fuel retailers actively venturing into the electrification space, particularly in Kansas, Ohio and New York. The industry is advancing as state and federal NEVI funds receive increased support, coupled with a growing commitment from the private sector to establish a national electric vehicle charging infrastructure. OWL Services anticipates these steps will contribute to a more robust and accessible EV charging network.
2. Consolidation for Seamless Operations: In 2024, retailers seek seamless and frictionless solutions from their suppliers and partners. The trend is moving towards efficiency, with businesses preferring to make one or two calls to address local, regional, or national challenges.
3. Data & Analytics Empowerment: The industry witnesses a surge in data and analytics/connectivity offerings, as C-stores, travel centers, and retailers seek to optimize processes and uncover new opportunities. These solutions provide quantitative insights into customer behaviors, aiding in whitespace identification.
4. Tailor-made Customer Experiences: With the rise of data, analytics, and connectivity solutions, there is a growing demand for highly customized customer experiences. Whether at the pump, in the C-store, or through innovative strategies to transition customers from the pump to the store, partnerships are focused on creating experiences that foster brand and customer loyalty.
5. Charging Infrastructure Improvement: Building upon the groundwork laid in 2023 by Ford, General Motors, Honda and other electric vehicle makers, the adoption of charging ports takes center stage. The new North American Charging Standard suggests a dramatic increase in the number of stations that drivers can charge their vehicles and potentially influencing consumers’ considerations when shopping for a new EV.  

As OWL looks ahead, these trends underscore a dynamic and transformative year for electrification and C-stores in 2024. The OWL team is excited to navigate these transformative trends towards the future.