The image of the convenience-store industry continues to change and more readily address the changing market. Market leaders are building bigger and brighter stores and offering higher-quality food products. These competitive forces elevate the entire industry.
Many gas stations have evolved to sell packaged foods and ultimately became c-stores that sell gas. Many of those will become a food retailer first that also sells gas. But if you’re among the readers who cringe at the idea of retailing anything with a shelf life shorter than a candy bar, there’s another direction: becoming a professional car wash first that also sells gas.
Aggressive price positions on mainstream teas, juices, energy drinks and flavored waters have often been de rigueur. But as competition percolates across single-serve subcategories, it’s not uncommon to see aggressive pricing for premium and superpremium brands, too. This troubles some retailers.
When Hess Corp. filed for a tax-free spinoff of its retail business in January, could deal makers ever have imagined that the convenience store brand as they knew it would completely cease to exist in just three short years? The iconic bold green-and-white logo will soon make way for another icon, albeit a Midwestern one: Speedway’s red-and-white logo.
There are new books, ideas, pamphlets, white papers and studies on leadership coming out all the time. Going by the publishing industry, you would think that what it takes to be a good leader changes constantly. But I believe there are core qualities of leadership that transcend all of that.