C-Store Chains Add New Designs, Larger Stores in 2016
Innovative store design and increasing square-footage were key trends in 2016, according to a recent article in CSP Daily.[New Food Service Options.
7-Eleven, Miller Oil Company, Rutter's [New Food Service Options] Farm Stores and Maverik introduced new store designs that focus on made-to-order food service, expanded grocery offerings and larger inventory. Store sizes have grown from the historic 2,400-square-foot format to more than 5,000 square feet. Distinctive architecture styles are increasingly popular; some chains have lowered their display heights to offer customers an unobstructed view across the store, while others have added restaurant-style seating and made-to-order food service to attract more customers inside.
When Visa, MasterCard, and American Express announced the extension of the EMV forecourt liability shift from 2017 to 2020, there were two similar reactions from different camps in the industry for vastly different reasons.
- Smiles from fuel marketers who’ve already updated the majority of their sites and who see the extension as an opportunity to differentiate, and get a better ROI on that investment.
- Cheers from marketers who expected the date to be pushed back, and don’t plan to do anything for another three years.Continue Reading...
Pump EMV Liability Postponed - What Should You Do?
There was a collective sigh of relief on Dec.1, when VISA and MasterCard announced a delay in the forecourt gas pump liability date, moving it from 2017 to 2020. Most likely, there was also a smile in some boardrooms, as retailers who have already invested see an opportunity.
Fuel retailers need to decide if this means they should wait ,or upgrade as they had planned in 2017. The decision extends beyond fraud liability, and includes factors such as customer preference, the cost of waiting, and potential earlier liability for some sites.Continue Reading...
What The Proposed Federal Tax Changes Could Mean To Your Business - And How To Win In 2016
There is a lot of press about the potential for business tax rates to be lower as part of the new administration in Washington D.C..
Although there still is a lot of speculation about what will happen, and when, one thing is certain: if tax rates are lowered, the value of capital-goods depreciation will be reduced. This means that the actual net after-tax cost of capital equipment to businesses will be increased.
Interest Rates Forecast To Rise In December
The consensus opinion is that U.S. central bankers will hold interest rates until after the November election, with an increase expected "relatively soon." This points to an increase at the Fed's December meeting.
An advantage of equipment financing is that interest rates are fixed, not variable, for the full length of the agreement. For more information, read this story from Bloomberg
Can You Learn From McDonald's 2020 Concept?
McDonald's newest concept store employs a wide range of technology and customer engagement strategies to transform their traditional experience. Are some of these techniques strategies that can improve your sites customer experience, operating efficiency or average sale? This article provides a sneak peek at the concept store in St. Josephs, MO.Continue Reading...
Act Quickly to Benefit From Section 179 Tax Savings in 2016
Fuel retailers, jobbers and C-stores need to consider taking action in September to take advantage of potentially significant tax savings in the 2016 tax year. Capturing these tax savings will positively impact cash flow, providing funds that can be invested to help grow your business.
To benefit from Section 179 in 2016, equipment must be installed and in service by December 31, 2016.
Can "Pokemon Go" Increase Your C-Store Traffic?
Within a week of its release, the “Pokemon Go” app became the most popular game in smartphone history. The game places animated characters in real locations and lures players to these places. Consultant Brian Roemmele states, “I have urged thousands of small businesses to utilize this opportunity while it continues to gain momentum.”