According to a recent survey conducted by the National Association of Convenience Stores (NACS), price remains the dominant reason why consumers buy gas at a particular location. While this outcome may not be surprising, the survey does reveal that how consumers shop for that price is changing.
Two-thirds of consumers (66%) say that price is the most important factor in determining where they buy gas. But while the majority of these price-conscious consumers still shop by looking at the price posted at stores (57%), an increasing number of consumers today “pre-plan” their trips: nearly one in five (18%) make their decision based on specific loyalty cards/discount and another 10% review gas prices online. And one in seven (14%) rely on a specific store’s overall reputation for offering the best prices.
The survey also reveals that consumers will literally go out of their way to find the best deal for gas prices: 66% say that they would drive five minutes out of their way to save five cents per gallon and 39% would drive 10 minutes out of their way to save five cents per gallon. In addition, consumers are very willing to change their method of payment if it leads to cost savings: 78% would switch from paying buy credit card to debit cards and 66% would pay by cash if they could save five cents per gallon.
View the complete survey results.
Because customers are shifting their philosophies on where they ultimately decide to purchase gas, it has become more important than ever to attract their attention during the refueling process and capitalize on additional sales opportunities while they are at your location. Ultimately, retailers need to be taking full advantage of every opportunity they have to help drive traffic form the fuel island into the store.
Over the years, a variety of advertising tools have been used to help achieve this goal. This includes utilizing the one piece of equipment that customers interact with most during refueling – the fuel nozzle. With this in mind, OPW recently released its newAdMaster™ Nozzle Advertising System, which is a highly effective form of advertising that displays promotional messages to help drive traffic into the store. Not only does the new AdMaster slip over your existing OPW nozzle, but it also allows marketers to quickly and easily change the promotional message.
To learn more about OPW, contact your local OPW Sales Representative or OPW Distributor.