How disparate are your fuel and stores teams?
Fuel sales and in-store sales are usually treated as separate business functions. The relationship between the two groups — and the impact they have on each other — is not always considered.
But, by looking at your fuel retail organization holistically and setting combined strategies, you can boost your success — and your profits.
- How can your fuel and store teams work towards the same goals?
This could present some challenges, as most organizations are set up with siloed departments that work towards separate goals. Bringing the two together to focus on the same goal will take collaboration and plenty of communication.
- Do you have any product line or category goals that could benefit from a better understanding of the relationship between fuel and store sales?
A fuel store link analysis can show you the strength of the relationship between fuel and specific product categories, which could be helpful if you have objectives to grow sales of particular products in your store, or if there are certain products that bring in higher margins than others.
- Do your teams know the average c-store and fuel margin percentages? Or how gross margin is split between fuel and store? Do they know the % of revenue they are responsible for?
Our experience shows that often, we know our own numbers inside out but the performance of other teams isn’t readily known. It can be really useful to bring multiple teams together and ensure that they all understand the others’ goals.
- How would calculating the relationship between fuel and store sales impact your pricing strategies?
You don’t need to change the approach to overall go to market strategy. You don’t need to restructure your teams to take a combined approach to fuel and store profit. But you can learn that within the structure and strategies that are already in place, you can position a store a little bit differently to benefit all departments.
Using a data led approach, Kalibrate can provide a full fuel store link analysis that will help you to determine a site strategy that drives overall profitability.
Download the eBook to understand more about how to analyze the link, who can benefit from this approach, and how it’s helped other fuel retailers.
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