Subscriptions can create loyalty that drives repeat fuel purchases, helping C-stores corner more of the shrinking fuel market, while added inside sales from new subscriptions can help offset the loss of fuel pump revenues. The growth of electric vehicles to a forecasted 30% of all new car sales by 2030 will continue to accelerate this trend. In 2019, consumers were already making fewer stops to refuel, meaning fewer convenience store visits. Subscriptions can be attractive to many types of businesses, including convenience and energy retailers. Grocery subscriptions in particular have seen a 45% year-over-year growth, and more than one-third of Americans feel that the number of subscriptions they hold will increase over the next two years. Why Subscriptions MatterĪccording to Convenience Store News, the average consumer spends $640 a year on subscriptions, and that number is increasing. Often those upsells can bring much more value than the subscription itself. For retailers, subscriptions provide increased, longer-term loyalty while leading consumers up the value chain, encouraging them to add additional items to their carts or accounts. For consumers, they are a great way to buy into exclusivity, taking advantage of their favorite places, products and activities, often at a lower overall price point. There are many reasons for the growth of subscription services. Convenience stores (C-stores) and energy retailers are no exception. Subscriptions are everywhere you look, including places where subscriptions haven’t traditionally been leveraged, such as fast-food chains and movie theaters.
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