*On June 1, 2023 Emerson’s Climate Technologies business became a new standalone company – Copeland. Though our name has changed, we are building on more than a century of HVACR innovation and industry leadership, and Copeland continues to offer the same products, industry stewardship, and learning opportunities you’ve grown to trust. Information found on this webpage posted before June 1, 2023 may contain our old name or branding, but you can be at ease knowing it was created with the knowledge and expertise of Copeland.
Focus on the customer
Retailers in this space are obviously concerned with convenience, but we are seeing an increased interest in cultivating customer relationships. Shifting the focus on the consumers from the checkout to when they enter a store may generate a big payoff. Modern technological systems such as wireless sensors in c-stores can potentially free up staff to focus on higher-value customer interactions. As these solutions become more prevalent, convenience stores can become more nimble to address the changing needs of their customer base.
Experiential retail
Driven by a digital revolution and rapidly changing consumer expectations, convenience operators are turning to new strategies to stay competitive. As product offerings are becoming more interchangeable, the shopping experience is a differentiator for retailers. Recent studies show that 78% of millennials would rather spend money on a desirable experience than on goods.
Supply chain management
Finally, better inventory management will likely distinguish convenience store operations in the future. Not only does new technology enable retailers to track inventory, but to learn who’s buying what.
For more information on these and other trends, read the full article here. You can see the Euromonitor presentation on Retail and Foodservice Trends 2025 here.
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