The convenience store industry has been growing at a rapid pace and is projected to reach $682 billion in global revenues by 2025. This is largely attributed to consumers’ increased propensity towards convenience and the emerging demand for healthy snacks, alcoholic beverages, and ready-meals. With these new trends come emergent opportunities for food & beverage distributors to break into the convenience store industry. To capitalize on these opportunities, however, distributors must understand the industry landscape and better equip themselves with the insights required to optimize their strategies.
Brizo provides a board and diverse set of data to better understand and analyze the foodservice market. Through their insights, which include in-depth menu data and restaurant tech coverage, an organization gains access to powerful sales prospecting data, marketing insights, and data enrichment to boost their operations and expand their brand in an unfamiliar industry. With the right industry data, food & beverage distributors can tap into the convenience store industry to identify and prioritize its award-winning opportunities.
1. Sales Prospecting
Sales prospecting is the process of discovering potential customers and selling one’s products or services to them. With access to the right data and insights, food & beverage distributors can identify areas of growth within the convenience store industry. For instance, detailed menu and demographic data can reveal which convenience stores serve food and beverage that can be supplemented with the distributor’s products. With insight into the types of food that each convenience store offers, distributors can build an effective sales pitch and route their sales team to stores that are likely to accept their products or services. Such data can also provide a better gauge into the purchasing habits of customers, and inform the sales team of what products to feature and how it can be successfully presented and marketed.
2. Marketing Insights
Besides identifying potential new customers, marketing insights from the convenience store industry can yield powerful advantages when it comes to target marketing and conversion. Relevant demographic data can help in the iteration of the right messaging, pricing, and promotional strategies that are tailored to the wants and needs of the specific target audience found at a particular convenience store. Combining such data with insights on the most effective marketing channels and campaigns employed by other players within the convenience store industry equips food & beverage distributors with the information they need to formulate effective, and knowledge-backed strategies for their own products or services.
3. Data Enrichment
Besides offering convenience, the convenience store industry is rolling out the use of various technological solutions. Through data analysis, food & beverage distributors can gain an insight into what digital solutions, especially those related to data collection or analysis, are being used by their competitors in the convenience store industry and how they are being used. With this knowledge, food & beverage distributors can make better informed decisions when it comes to the selection and implementation of technology solutions, ultimately helping to facilitate top-tier operational efficiency while maintaining a competitive edge.
Invading into the convenience store industry is an ideal way for food & beverage distributors to expand their operations. However, navigating this uncharted territory requires an extensive understanding of the industry. Through data-driven insights, food & beverage distributors can equip themselves with the industry know-how they need on every front, from sales prospecting and marketing to data enrichment. With a thorough overview, distributors can confidently enter and build a successful presence in the convenient store industry.