forecourttech April 2020
A bi-monthly technology magazine for the evolving retail forecourt.
A bi-monthly technology magazine for the evolving retail forecourt.
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<strong>forecourttech</strong><br />
Through our specialisms in customer experience and<br />
workforce transformation, REPL are uniquely positioned to<br />
provide advice and guidance on how to use technology to<br />
meet this challenge.<br />
THEME 4 – FUEL RETAIL IS TRANSFORMING WITH<br />
DIGITAL<br />
The phrase digital transformation is almost passé. Almost<br />
all business strategies and transformation are underpinned<br />
by digital technologies and all retail sectors have been<br />
disrupted.<br />
REPL has a deep specialism in fuel retail which is undergoing<br />
an unprecedented and epochal change. The rise of<br />
electric vehicles (EV) continues unchecked with forecasted<br />
sales of between 8-12 million units by 2025. In the UK<br />
there are now more EV charging points than petrol stations.<br />
Charging these vehicles will increase dwell time, giving fuel<br />
retailers the opportunity to enhance existing propositions<br />
and develop new offerings. REPL are working with multiple<br />
fuel retailers to help them deal with the technology challenges<br />
this heightened level of change brings.<br />
But it is not just about EV. It’s important to understand<br />
other market trends as well. For example, connected and<br />
autonomous cars, IoT and the wider digitisation of customer<br />
experience. All of these will work together to change the<br />
way consumers engage with fuel retailers.<br />
One example of how retailers are responding to the new<br />
customer expectation is BP’s app BPme allows drivers to<br />
arrive at the forecourt, tell the app the pump number, refuel<br />
while specifying a set volume or cost, pay instantly and<br />
leave. They can also use it to order a coffee in advance<br />
and receive bespoke offers on products, tempting them to<br />
spend more when they collect their caffeine fix.<br />
It is also important not to forget that, while it is easy to<br />
focus on these new and exciting trends, they will take<br />
time and be introduced slowly. This is an evolution not a<br />
revolution.<br />
There will be a long period of time when they coexist<br />
with the current status quo. This means fuel retailers will<br />
continue to make most of their revenue from traditional fuel<br />
sales for quite some time. This requires them to continue to<br />
run and invest in their core infrastructure and provide high<br />
quality services for the majority of their customers.<br />
All of this against the backdrop of a highly competitive<br />
and low margin industry. Ensuring they invest in the right<br />
technologies at the right time will be critical for the future of<br />
fuel retailers.<br />
THEME 5 – STANDARDS ARE BEING RAISED IN<br />
PRIVACY AND DIGITAL WELLBEING<br />
Retailers recognise that data security and processing, in<br />
particular the framework introduced under GDPR, is not a<br />
one-off exercise. From head office to shop floor, retailers<br />
need to ensure that people, processes and platforms have<br />
data security standards embedded at every interaction.<br />
This not only meets their legal obligations but provides an<br />
environment in which customers feel their data is secure.<br />
Data security, privacy and best practice remain highly<br />
relevant and emotive topics for all retailers.<br />
In terms of wellbeing, the Mental Health Foundation found<br />
that approximately 70 million work days are lost each year<br />
in the UK due to mental health issues in the workplace,<br />
costing employers approximately £2.4 billion per year. It is<br />
therefore essential that employee wellbeing is recognised<br />
by retailers. Processes and tools need to be put in place<br />
to support employee development, facilitate feedback and<br />
provide engaging and rewarding roles to create a positive,<br />
healthy, inclusive environment. The right colleague experience<br />
will drive the right customer experience.<br />
One thing is clear: customer experience remains king and<br />
technology is vital to achieving the right interactions with<br />
consumers. At REPL we believe fuel retailers must look at<br />
their IT landscape and ask the question “How can I?”:<br />
- quickly deploy new offerings for both customer and<br />
colleague<br />
- gather the data that allows me to test and adapt these<br />
innovations<br />
- create an environment where operational teams can deliver<br />
and support change at pace<br />
-engage with my customers and colleagues to create a<br />
continuous feedback process<br />
Fuel retailers must adjust to impending change to remain<br />
relevant. The right technology will deliver the very best<br />
experience to meet customers’ expectations, maintain their<br />
loyalty and future-proof the forecourt.<br />
pageeleven<br />
Chris Griffiths is the Managing Partner for<br />
Customer Experience at REPL, leaders in retail<br />
transformation. Chris will be speaking at<br />
<strong>forecourttech</strong> ’20, 6-7 October in Alicante,<br />
Spain.<br />
For more information on Thomas’ talk and other<br />
presentations please visit<br />
www.<strong>forecourttech</strong>.com/speakers<br />
#<strong>forecourttech</strong> @<strong>forecourttech</strong> www.<strong>forecourttech</strong>.com