Convenience Store News - May 2018 - 28

OUT & ABOUT

Speakers Kevin
Smartt (left) and
Todd Hale spoke
about the opportunities and dangers
that come with
change.

Although high-income only makes up
20 percent of U.S. households currently,
c-store retailers should be seeking out this
shopper, urged Andy Jones, president and
CEO of Sprint Food Stores and a member
of the NACS Research Committee.
"Low income is important to us, but they
are struggling," Jones said.

The struggle comes despite a slew of
tailwinds: low unemployment, low gas
prices, low prices, and low interest.
"We should have crushed it in 2017,"
he said.
So, what happened? Gas prices
began to edge higher, online sales
increased, competition continued
to heat up, and the political environment appeared to take a toll on
Hispanic consumers, Jones explained.
In addition, low-income households
are earning less, yet having to spend
more for transportation, housing,
food and healthcare.
Consumers have loaded up on debt and, according to
Jones, "Our consumers are maxed out."
To survive and thrive, it may be time for c-store retailers
to step out of their comfort zone.
"We need to become a better destination for more income
groups," Beach said. "We want to become a destination for
premium and value." CSN


http://heartlandranch.us

Table of Contents for the Digital Edition of Convenience Store News - May 2018

Contents
Convenience Store News - May 2018 - Cover1
Convenience Store News - May 2018 - Cover2
Convenience Store News - May 2018 - 3
Convenience Store News - May 2018 - 4
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Convenience Store News - May 2018 - Contents
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Convenience Store News - May 2018 - Cover3
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Convenience Store News - May 2018 - U1
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