Intouch Insight Report Identifies Gap Between Convenience Stores and Quick-Serve Restaurants
By: Sarah Beckett August 3, 2023
Study reveals that food is no longer the only battleground where convenience stores and quick-serve restaurants compete for consumers as the growth in electric vehicles increases.
Ottawa, Ontario - Intouch Insight, a leading provider of customer experience management solutions, has unveiled its highly anticipated 2023 Convenience Store Trends Report titled "Food, Fuel and the Future." This comprehensive report delves into the evolving landscape of convenience stores and the challenges they face amid increased competition from quick-serve restaurants. Yesterday, the company’s President & CEO, Cameron Watt, shared key findings from this study during his main-stage presentation at the Outlook Leadership Conference, along with announcing the winners of the annual Intouch Insight – CSP Magazine Customer Experience Award.
“For many years, convenience stores have made significant investments in their prepared and made-to-order food options, aiming to earn more interaction and loyalty with convenience-minded customers,” said Cameron Watt, President & CEO of Intouch Insight. While the reported level of overall satisfaction with prepared food from convenience stores was up 7% year-over-year, the study reveals an 11% drop in those who reported being extremely satisfied with food quality at convenience stores. “This shift to the middle in reported satisfaction from extremely satisfied to satisfied indicates to us that expectations are evolving, competition is increasing, and complacency is not an option,” adds Watt.
In addition, the report suggests that there may be a new battleground to be fought. While gasoline remains the primary driver of consumer traffic for convenience stores, the rise of electric vehicles (EVs) presents a new area of competition; particularly with quick-serve restaurants (QSRs) who see an opportunity to add another reason for consumers to visit. With EVs projected to account for up to 40% of passenger car sales by 2030, Intouch Insights reports that out of almost 800 visits to major convenience store brands across the USA, 12% currently offer EV charging stations. “With retailers of all types including quick-serve restaurants like Subway and Taco Bell quickly ramping up their plans in this arena, convenience stores need to treat this like the race that it is to ensure they are protecting their leadership in fuel delivery while also ensuring they give customers a reason to stay and charge their vehicles,” says Watt.
Looking toward the future, the report highlights the immense potential for c-store brands to enhance customer experiences through the adoption of new technologies. From mobile loyalty apps to advancements in artificial intelligence, technology may be able to drive more revenue, mitigate labor shortages, and ensure consistency in experiences. It is likely that how new technology is utilized will make a difference in where battles are fought and won.
Intouch Insight's 2023 Convenience Store Trends Report provides valuable insights for convenience store brands seeking to navigate the evolving landscape and stay ahead of the competition. By understanding how convenience is doing in the key battlegrounds of food and fuel, and harnessing the power of technology, convenience stores can secure their position as the go-to destination for time-conscious consumers.
For more information and to access the full report, please visit https://www.intouchinsight.com/resources/cx-insights/c-store-trends-2023/.
About Intouch Insight
Intouch Insight is a CX solutions company, specializing in helping multi-location businesses achieve operational excellence so they can exceed customer expectations, strengthen brand reputation and improve financial performance.
Intouch enables brands to collect and centralize data from multiple customer touch points, giving them actionable, real-time insights in an advanced analytics platform. Founded in 1992, Intouch is trusted by over 300 of North America’s most-loved brands for their customer experience management, customer survey, mystery shopping, mobile forms, operational and compliance audits, geolocation data capture and event marketing automation solutions. For more information, visit http://www.intouchinsight.com.
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