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Opportunities in offering premium food and drink on the forecourt

DateFeb, 2004
Pages94
Price / format€6094 / Electronic

€6 094 

Report Information | Custom-Tailored Research | Product Trade Lead


Abstract:
 Introduction

As emphasis moves towards the forecourt convenience-retailing sector, major change has occurred in the perception of c-stores. The pleasant smell of hot bakeries and premium coffee are replacing fuel fumes and are convincing people to take time to relax and look at the new improved service areas. This report provides insight into how to move forward within this unique sector to 2007.

Scope

Detailed interviews with leading forecourt convenience retailers in 7 European markets, including 9 fuel retailers and 2 grocery multiples

Identifies the best selling premium products across Europe and explores the influence of the "mega-trends" on potential growth

Pinpoints the margins of main players in the most developed markets and outlines how they are achieved

Suggests the potential market size and differing distributions of premium shoppers, and looks at growth opportunities over the next 3-4 years

Highlights

Grocery multiples have been particularly successful on the forecourt, but rather than taking over, they have simply raised the game and opened up the potential for fuel retailers looking to move further into the area of convenience. Premium offerings will play a major role in making them competitive.

Premium bread and coffee are the future for forecourt c-stores. They have already proven to be the best selling products within many markets. The share of sales that each of these account for could easily reach between 10 and 15% by 2007, almost doubling the current opportunity

Convenient, pleasurable and if possible, healthy products of premium quality are essential for the on-the-go environment we now live in. Forecourt c-stores are best placed to maximize profit margins based on these consumer requirements.

Reasons to Purchase

Increase profitability by identifying the fastest growing markets, the key premium products within each, and the opportunities they present to 2007

Understand the strategies implemented by successful fuel retailers expanding their premium offering, and experienced grocery multiples

Identify the obtainable margins in a premium offering. Ideal for those companies in less -developed markets looking to expand.

Region: Europe








Table of contents:
 TABLE OF CONTENTS

Chapter 1 EXECUTIVE SUMMARY 3
Introduction 3
Premium offerings – identifying the potential 3
The customer 5
Fuel retailer strategies 6
Forecasts 7
Recommendations 8

Chapter 2 INTRODUCTION 17
What is this report about? 17
Who is the target reader? 18
How to use this report 18

Chapter 3 PREMIUM OFFERINGS – IDENTIFYING THE POTENTIAL 20
Introduction 20
Key findings 21
What makes a product premium? 22
Growth in premium food and drink 22
Indulgence – one of the mega-trends 23
What are mega-trends? 23
Why indulgence? 23
The pleasure mega-trend can be divided into three distinct components 24
The effect of mega-trends on the forecourt c-store 24
Healthy products win loyalty 25
Who are the target customers for premium products? 26
Growth in sales of premium lines 30
Forecourt c-store versus general c-store 30
Influence of supermarket partnerships 31
How much do they make? 33
How has the market changed so far? 35
External influences 36
Growth of premium food and drink 38
2002-2007 – How is the market changing? 38
Food 39
Drink 40
Lessons to learn from so far 40
Opportunities for expansion in the market 41
Forecourt retailer versus grocery multiple 41
Forecourt c-stores are unique 42
Everything on-the-go 42
Competition seems to be almost all one-way traffic 43
Conclusions 43

Chapter 4 THE CUSTOMER 45
Introduction 45
Key findings 46
What makes a food or drink product the "best" of its kind? 47
Where people currently shop 48
The target market as it stands 48
The target customers in the future 50
What customers expect from a forecourt c-store 52
Familiarity and branding 52
Which premium products sell, and why? 53
The best selling products in Europe 53
Benefits from stocking premium goods include: 54
The “no time” effect on purchasing decisions 54
The influence of grocery multiples on the competition 55
Customer acquisition 56
A question of trust 56
Customer retention 58
The convenience factor 58
Conclusions 58

Chapter 5 FUEL RETAILER STRATEGIES 60
Introduction 60
Key findings 60
Competitor identification 61
Fuel retailers – the most dominant players 62
Grocery multiples – who is working well? 63
Competitive structure 64
The main challenges and opportunities 65
Implications 65
Conclusions 66

Chapter 6 FORECASTS 67
Introduction 67
Key findings 67
Premium Sales and Share of Shop Shelf Space on the Forecourt, 2002-2007 69
Forecourt shop share of service station sales by country, 2002-2007 71
Average forecourt shop sales per site by country, 2002-2007 72
Average forecourt shop premium product sales as a percentage of total sales, 2002-2007 73
Forecourt shop sales per site vs. overall c-store sales per site by country, 2002-2007 74
The Future of Premium food on the Forecourt, 2002-2007 75
Bread and rolls megatrend opportunities, 2002—2007 75
The Future of Premium Drink on the Forecourt, 2002—2007 79
Coffee megatrend opportunities, 2002—2007 79
Conclusions 81

Chapter 7 RECOMMENDATIONS 83
Introduction 83
Key findings 83
Action point 1 – Improve overall image to acquire / retain customer base 85
Baby-steps to success 85
Moving forward within the market to retain margins 85
Action point 2 – Focus on the premium offering and work on improving the best selling products first 86
Knowing which products will achieve highest margins 86
Expanding on the premium product range 86
Action point 3 – Concentrate on maintaining operational excellence to meet customer expectation 87
What does operational excellence involve and how important is it to increase margins? 87
Action point 4 – Be realistic and tailor strategies to compete effectively in each market 88
Strategies that work for fuel retailers 88
Strategies that work for grocery multiples 88
Tailoring strategies to move forward 89
Conclusions 90

Chapter 8 APPENDIX 91
Definitions 91
Research methodology 92
Further reading 93
SPP writing team 93
How to contact experts in your industry 94




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