Is Now the Time?
One consensus of the panel in the Mergers & Acquisitions—Where Will It All End panel discussion: Now may be the best time for smaller retailers to sell their businesses. “Multiples are at an all-time high, and you know what your cash flow is,” said Rocky Dewbre, a member of the board of directors for CST Brands and formerly with Susser Holdings. “The value of what your company is worth is likely at a peak today. If I were a c-store company owner, I would seriously take that under consideration.”
My Generation
Know your customer. Turns out the millennial generation wants you to connect with your community; they want to buy into companies they believe in. And that goes for the products on your shelf, too. Their philanthropic ideals make them a loyal, yet complex consumer to vet, according to Matt Thornhill of GenerationsMatter, a marketing research firm that presented at the NACS Show.
No Kid Gloves
Make it interactive: According to Joanne Loce of Loce Consulting, younger workers crave hands-on learning because that generation has been raised with hands-on technology.
Big Brand Innovation
Big-name confectioners Mars and Hershey both came out swinging on the trade-show floor with two prominent releases: Mars with Caramel M&M’s and Hershey’s Cookie Layer Crunch—both essentially twists on two c-store sure things. Never companies to shy away from innovation, these two confectionary giants continue to roll out trend-driven chocolate products that satiate their most loyal customers, as well as their most experimental following.
Getting Handsy
U-Gas put price tags on the bottom of some of its products. As a result, 50% of people who picked up the product to look at the hidden price wound up buying it.
Fresh Is Now
We are at a tipping point with fresh foods in convenience stores. Now is the time to jump in as more consumers see convenience stores as a source of healthier foods, said Kelly Jacob of United Fresh.
Bison You’ll Like It
Once you’ve had a meat bar, you’ll get it. One visit to the Epic booth had us singing the praises of bison in bar form.
Food-Safety Quick Hits
- Time, temperature and cleanliness: the three key things health inspectors will be looking for, so make it your food-safety mantra.
- Also, budgetary cuts have led health departments to use inspectors who don’t have a lot of foodservice background. “They don’t know the nuances of our industry … so it’s great to educate them,” said Tom Ford, vice president of food safety for Ecolab.
- Finally, infrared thermometers might not be accurate. There could be a 7-degree difference, which is enough to make you noncompliant. So consider asking the inspector to use a probe thermometer, too.
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