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Petrosoft Blog

Is Inventory Shrinkage Affecting Your C-Store Profit? Here are 10 Ways to Prevent Inventory Shrinkage

Is inventory shrinkage affecting your c-store business? You’re not alone. Preventing shrinkage in a convenience store is a common issue many owners face daily.

Shrinkage is simply the loss of physical inventory at your c-store. Many factors cause shrinkage in retail stores, including employee or customer theft, multiple inventory management systems, poor recordkeeping, invoice errors, changes in your operations, fraudulent vendors, or misplaced store items. As you know, even moderate amounts of inventory shrinkage can harm your bottom line.

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C-store Back Office Mobile Application – 5 Key Benefits You Can Keep In Your Pocket

You spend hours at your c-store trying to improve your bottom line—from managing inventory and daily sales to keeping your staff happy and engaged and finding unique ways to meet customer needs. Unfortunately, at times, your commitment to success may feel overwhelming and can keep you away from doing other things you enjoy.

Stay connected to your c-store wherever you go using an integrated mobile app.

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Physical Inventory Count vs. Inventory Cycle Count: All You Need to Know

Many c-store owners experience a loss in revenue and sales due to poor inventory management. You must take the steps necessary to ensure inventory counts are accurate to better forecast sales, monitor vendors, and provide excellent customer service. But there is more than one way to manage your inventory.  

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Learn 4 Secrets of How to Stop Employee Theft in Convenience Store

Employee theft in the retail industry has increased drastically over the past years. Here are the 4 secrets of how to stop employee theft in your convenience store.

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The Ultimate Guide to Convenience Store Set Up in 2021 – How Inventory Placement and Inventory Movement Can Maximize Your C Store Profits

Inventory management at your convenience store can make or break your c-store operation. The first step to gaining control over your c-store’s bottom line is to get an accurate view of your item-level inventory.  It’s critical to use the data you gather to learn about convenience store inventory control and increase your c-store profits with dead inventory management, inventory placement, and shrinkage control.

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How To Use Inventory Cycle Counts To Decrease Inventory Shrinkage in Convenience Store

Every c-store owner must control shrinkage and meet customer demand with a regular inventory cycle count. Not only will you keep shelves stocked with high-selling items, but you can keep your eye on high-theft items as well.  And, as you know, inventory placement optimization will help increase your profitability. 

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Gas Station Marketing Strategies that Drive Sales – A Guide to Increase Your Gas Station Profit

Marketing has changed over the past several years. New technologies provide you with unique opportunities to pump up your gas station. Whether you consider using geo-marketing or start building customer loyalty with customer loyalty program software, there are more ways than ever to increase your gas station profit and improve your bottom line.

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Gas Station Profits Management: How to Operate a Gas Station Successfully in 2021

Gas stations and convenience stores (or c-stores) are a thriving industry and have been a fixture on the American scene since 1927. According to the National Association of Convenience Stores (NACS), there are more than 121,000 c-store locations operating in the United States, bringing in $242.2 billion from inside sales and another $412.1 billion from fuel sales.

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3 Important Metrics to Maximize Your C Store Performance – Learn How to Calculate Shrinkage and Monitor Convenience Store Daily Sales Report

Enhance your c-store performance by learning how to calculate shrinkage, determine your sales per square foot, and track your convenience store daily sales report to understand average customer spending. 

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6 Easy COVID-19 C-Store Customer Safety Tips

Are you doing all that you can to earn your customers’ trust to help protect them from COVID-19 and ensure they come back? 

Many customers will leave your c-store immediately if they see you ignoring safety measures to prevent the spread of COVID-19 — including employees or customers not wearing masks or wearing them incorrectly, no one following social distancing guidelines, and finding your store dirty or in disarray. 

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12 Strategies to Prevent Convenience Store Customer Theft

Employee training and technology may be your best secret weapons against c-store theft. 

Do you know the most common items that shoplifters are likely to steal from your c-store? They include razors, razor blades, energy drinks, cigarettes, over-the-counter medications, alcohol, cosmetics, and batteries. Are you doing all you can to prevent shoplifters from stealing these items and more from your convenience store? Check out the expert tips next to take the guesswork out of top strategies for preventing customer theft. 

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Get 4 Quick Tips to Understand Your Customers’ Age Groups and Foods They Will Buy

When you learn the buying behaviors of your convenience store customers, you can easily earn more revenue and increase customer satisfaction. 

According to the National Association of Convenience Stores (NACS), knowing your customers’ pump fueling habits by age group, along with meals and food they are likely to buy, helps you customize c-store food service and special promotions for each age group*. 

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5 Easy Strategies to Boost Convenience Store Breakfast Sales

Jumpstart your convenience store food service by offering fresh, hot, and appealing breakfast items your customers can eat on the go. 

You’ve probably heard that many people consider breakfast the most important meal of the day. And when time doesn’t allow customers to eat at home, they usually find a quick bite to eat at a convenience store or fast-food restaurant. Are you offering breakfast foods to attract these morning customers? 

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3 Quick Fixes to Display Healthy Convenience Store Snacks & Drinks

Make it easy for customers to find healthy snacks and drinks in your convenience store, and boost your bottom line. 

Strategy: Optimizing your food displays is a simple way to help customers find healthy snacks and drinks, according to The Food Trust, a nonprofit organization dedicated to increasing community access to affordable, nutritious food. Changes to your displays will allow you to sell more healthy items and attract new customers.  

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Leverage Inventory Management for Superior Performance

Right-sized technology provides the critical competitive edge in the retail playing field, particularly among independents and chains. Today’s leading convenience store operators are maximizing their performance by leveraging technology in two interrelated areas of inventory management practice: optimal inventory levels, and a highly productive product mix. See how SG II Group built the infrastructure they needed to manage both their inventory and their bottom line.

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Are You Losing Money by Not Offering Healthy Convenience Store Foods?

Get 7 tips to turn grab-and-go fruit into c-store profits today!

Problem:  
Do you want to add fresh fruit to your c-store inventory but worry it won’t sell?  

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10 Healthy Convenience Store Foods That Can Boost Your C-Store Profits

Eating healthy food is good for your customers, and selling healthy food is profitable for your convenience store. 

Convenience store customers from all age groups are now eating more healthy foods. Are you offering healthy food options at your c-store? Providing healthy convenience store foods to your customers is easier than you might think.  

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Why Millennials and Gen Z Love Convenience Store Food

Forty-three percent of consumers age 18 to 29 (Millennials and Gen Z) say they’ve purchased more food from a convenience store now than they did three years ago. In the US, c-stores experienced record in-store sales in 2018, an increase of 2.2 percent from the previous year of inside sales, with younger Americans driving the trend for convenience store food.

When combined, Millennials and Gen Z outnumber every other age bracket and are the driving force behind food sales at convenience stores.

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Is Your Disaster Emergency Plan Missing These 8 Top Guidelines?

If disaster strikes, will you be ready?

Don’t let a disease outbreak or natural disasters, like earthquakes, tornadoes, hurricanes, fires, floods, and snowstorms take you by surprise. Protect yourself instead by creating an effective emergency plan.

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3 Tips to Optimize Your Convenience Store Layout and Skyrocket Sales

As with any retail space, the goal of a convenience store layout is to maximize sales by exposing customers to more products. The more time your customers spend in your store, the more products they have an opportunity to view, and the greater the chance is that they’ll find things they like and want to purchase.

In a convenience store, you are challenged with exposing customers to products without impeding traffic flow—all within a confined space. This is a tough balancing act. Not enough exposure and you can hinder sales, but an overpacked design obstructing traffic flow too much can result in a negative impact on the customer experience.

Here are a few ways you can optimize your convenience store layout for better sales:

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C-Store Technology Trends for 2020

As we begin 2020, gas station and convenience store owners can rest easy knowing that c-stores are not going anywhere. In fact, the expectation from customers is for the retail environment to become even more convenient.

As with many industries over the past decade, c-stores have significantly evolved—remaining the top destination for seekers of hot beverages and the preferred quick service food spot among millennials and Gen Z with food sales accounting for 23% of all revenue.

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5 Benefits of Cloud-Based C-Store Software

It’s a given that robust c-store software is a must-have for any retailer if they want to boost their bottom lines and stay competitive, but the industry is shifting yet again towards a more mobile approach. Because of that, many c-store owners are adopting cloud-based c-store software to improve their operations and meet growing customer demands.

Cloud-based solutions offer many advantages over legacy POS solutions. Here are some of the most notable:

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The Risks of Avoiding EMV Compliance at Gas Stations

By now, pretty much every single business owner has heard about EMV. EMV stands for Europay, Mastercard, and Visa, and is the global standard for cards that are equipped with chips. This technology is used to authenticate card transactions, combat credit card fraud, and improve payment card security.

With how important EMV compliance is, why is it then, that gas station and c-store owners have been universally slow to adopt this technology? One factor is the expense, yes, but another is a lack of information on what you risk when you aren’t EMV compliant. Here are a few:

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Loss Prevention Statistics and Resources

The National Retail Federation (NRF) and Dr. Richard Hollinger of the University of Florida jointly conducted a survey to develop and analyze retail loss prevention benchmarks. The research is in its 25th year.

 

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Buydown Promotion Management

Buydown Promotion Management: Are you getting the money you’re owed?

If you’re not tracking buydowns in your convenience store, you could be missing out on thousands of dollars every month.

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Top 5 Articles on Foodservice and the C-Store Industry to Kick-Off 2017

Looking for hot topics on foodservice?  In this article, we have compiled a list of our favorite Foodservice articles that we believe are worth the read.

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New Tech Solutions for the C-Store Industry

New foodservice technology and a special announcement on October 19th.Today’s digitally connected consumer demands unprecedented control over every step of the ordering process. Foodservice retailers are responding to this demand by adopting technology to streamline ordering, preparation, delivery, and operational communication.

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How Technology Reduces Employee Theft

Employee theft, a well-known issue for restaurant, merchandise and fuel retailers

According to the 2015 US Retail Fraud Survey:

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Should Pizza Be on Your Menu?

Pizza is our favorite meal but should you be dishing it up? To answer the question, we looked at the numbers and some advice from the industry. What should you consider?

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Why Foodservice?

Restaurants and convenience stores find success by staying competitive and controlling margins. Pressure on margins can come from many sources such as wage increases, employee turnover, gas price fluctuations, declining tobacco sales, and card fees. The blurring of retail formats is also changing the competitive landscape, creating new competition and opportunities.

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How to Control Overstocks With Inventory Forecasting

Strong sales and profits are the result of having the right product mix and level of inventory. Achieving this ideal mix requires having current and accurate inventory information.

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How C-Stores Can Use Item-Level Inventory To Create The Right Product Mix

To produce the greatest return, the inventory carried by a c-store should meet its customers’ tastes, needs and expectations.

As Hershey’s data illustrates, to carry the right product mix, c-store managers should consider regional, local and hyperlocal trends and demographics.

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How Technology Helps C-Stores Reduce Compliance Risk

Many laws govern the forecourt and the convenience store (c-store). Convenience store retailers must be aware of these regulations or face heavy fines, risk being shut down and/or put out of business due to non-compliance.

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Secure Your Pumps With Private And Encrypted ATG Data Transfers

Collecting and transferring ATG and POS data through a public (open) internet connection makes fuel marketers and c-store owners vulnerable to data breaches and attacks, enabling hackers to control and turn off gas station pumps. With DirectConnect and CStoreOffice®, fuel marketers and c-store owners can transfer encrypted data within their own private and secure environment, all at an affordable price.

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How End-to-End Cloud-Based Integration Helps Retailers Meet Customer Demand, Manage Margins, and Prepare for the Future

Ask single-store retailers and multi-store operators alike what they consider their biggest business challenges, and the conversation will likely revolve around one topic: meeting customers’ demands while maintaining a healthy bottom line. In order to meet both of these objectives, retailers must anticipate what customers will want and understand the margin for each product they sell.

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How POS Systems and Retail Automation Drive Customer Satisfaction, Manage Risk and Maximize Profits

If you could hire the “perfect” employee for your c-store, what would their job description be?

Would they be able to interact with customers, in person and via mobile devices? Remember what individual customers buy and suggest products and promotions that dovetail with their shopping habits? Quickly verify a shopper’s age before ringing up the bottle of wine they’ve set on the counter? Track inventory in ways that minimize out-of-stocks? That “perfect” employee is available in today’s state-of-the-art POS systems!

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Save Time, Reduce Risk – SmartPOS Retail Video Journaling by Petrosoft

PITTSBURGH, PA–(Marketwired – November 04, 2014) – Petrosoft introduces SmartPOS retail video journaling, a novel solution that enables retail operators to quickly review the video footage of important point of sale transactions, saving them time and reducing overall operational risk.

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