Convenience-store retailers need to remember that 80 percent of consumers spend money after gassing up and that retail media can assist driving those in-store sales, Kristal Walton, senior vice president of the CPG and retail industry of Gas Station TV (GSTV), told attendees at the Sweets & Snacks expo last week in Indianapolis.
At the education session the Surprising Relationship Between Fueling Up and Shelling Out, Walton explained how retail media should not be overlooked but rather can be a successful tool for retailers to get consumers to spend in store after gassing up.
“People are visiting the store throughout their day and so leveraging media tactics, such as at the fuel pump, helps drive that connection with the consumer,” Walton told CSP Daily News.
Walton said that retail media at gas pumps has the potential to drive in-store sales and that convenience stores have been very “innovative” towards this.
She also highlighted four key factors that make them an excellent choice for effective retail media investments.
The four key factors she listed include:
- Increased frequency: Citing that a shopper goes to a convenience store 2.5 times per week.
- Impulse oriented: Highlighting that 40% of shoppers not interested in visiting the store could be persuaded by an ad at the pump.
- Single purchase channel: Explaining that 95% of convenience-store trips end in a purchase by the consumer.
- Specific pack sizes: Finding that 71% of consumers who shop in a convenience store are likely to try new products.
When it comes to the landscape of tactics for driving in-store sales, Walton said it is important to really look at your mix of tactics and figure out how to follow the consumer along their journey.
“It’s important to put placements within that moment before they're going to go and pick up a product from the shelf,” she said.
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