• The NACS Show 2021 was an incredibly valuable experience, with top-caliber attendees representing diverse vendors in the c-store space as well as upper-level decision-makers within c-stores. Conversations were inspiring and meaningful, and collaboration helped to spark new ideas.
  • Good, voluminous data—both basic operational data and more unique datasets specific to business needs—are critical to support automation, AI, and machine learning. These elements drive supply chain efficiencies, deliver sharper predictions and timely recommendations, and increase profitability.
  • Customers don’t want simple software. They’re looking for long-term, ongoing relationships built on energy industry and c-store expertise. They want a custom experience that serves their business uniquely, and a partner that can respond to their evolving business needs and help them adapt more quickly to market volatility and changes.

Earlier this month, the Gravitate team attended the National Association of Convenience Stores (NACS) Show 2021 to talk to potential customers about our Gravitate Best Buy & Dispatch solution. Although this is one of many conferences we’ve attended this year, it’s the biggest and most significant event for the convenience store industry. We were really excited!

So, what did we experience and learn about during our four days of meeting with all types of vendors and upper-level decision-makers in the c-store space? What inspired us? And what were our main takeaways? </br>

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1. First things first—if you have to attend a corporate event, make it one centered on convenience stores, if only for all the delicious food and beverage options. (Just kidding…not really.)

At NACS Show, you feel like you’re inside a convenience store for the better part of a week. That means you get to enjoy all the coffee, Slurpees, Belgian pastries, pizza, and fried chicken you can eat. It’s fantastic.

Okay, now that vital information is out of the way and you’re hooked for the NACS Show 2022, we’ll get serious with the rest of our observations.

2. Data is everything.

These are common challenges for c-stores: They may capture and create plenty of data, but it's usually in disparate systems and difficult to access in a useful state. Everyone wants to make smart, data-driven decisions that optimize supply chains, identify and leverage efficiencies, and increase revenue. However, this relies on access to clean data, and then knowing what to do with it. C-stores often don’t know how to capitalize on their data and get to the point at which, say, they might be able save 75 points on every gallon of gas they purchase.

Automation, artificial intelligence (AI), and machine learning are the future—and all the data that c-stores have must come together to feed them. It’s how c-stores obtain ever-sharper, more profitable predictions and recommendations from their technology resources.

Furthermore, everyday operational data can only get a c-store so far in analytics capabilities and supply chain insight. You also need to capture, manage, and evaluate datasets that are unique to your business interests to incorporate into AI and machine learning. This will enable you to maximize your investment in supply chain and logistics software. Customization means better, more tailored results and a more complete view of your operations.

3. High levels of collaboration and high-quality conversations create an exciting atmosphere in which we all learn from each other.

Overall, attendance may have dipped somewhat as a result of the ongoing pandemic, but the people who showed up were the right caliber, personifying this year’s theme of the NACS Show: We got this! It was a classic case of quality over quantity, and the energy and enthusiasm on the exhibition floor were palpable.

Whether it was companies with products to get on shelves or companies serving the business side of c-stores—from cybersecurity to customer-service engagement—a broad array of vendors with complementary services intermixed. There were many educational moments and opportunities for discussion about how different products and services can work together to better serve c-store customers, or even just to spark ideas for how to improve our own software as we continue to build it out. When great minds come together, there are always improvements to be made in the industry.

Often representing c-stores in attendance were top-level decision-makers. This meant that our conversations with prospective customers were always meaningful, in-depth and targeted, and would easily move to the next level (a demo or follow-up meeting). Once they saw our basic software demo, these leaders asked specific questions about the pricing engine, the metrics included in our software (what they are and why they matter), and how these features benefit their particular business, for example. They were assessing our expertise—an essential test for moving past the demo and initial questioning phases.

We found this to be an incredibly valuable and rewarding experience.

4. Customers want long-term relationships—software, on its own, isn’t enough.

Customers don’t want simply a one-and-done, one-size-fits-all fix in the form of a software implementation.

Instead, they’re looking beyond that for an ongoing partnership and a high level of expertise that can serve them and their business’ interests uniquely. Fortunately, this is the type of relationship that the Gravitate team has been fostering for a long time, especially on the consulting side of our business.

Customers want their evolving business needs to be integrated into the software’s modules and functionality just for them. They want help in identifying data gaps and addressing those within the software. They seek fresh, new ideas and perspectives on how any technology resource can improve operations and yield greater insight—from someone with intimate knowledge of both their business and c-store industry.

The product itself may be general, but the relationship needs to feel custom—and it should, because of their datasets coming from their own organization and because of the unique intricacies of their business and their relationship with a technology partner.

For a technology resource to serve this extensive partnership well, industry knowledge has to be there alongside technology knowledge—otherwise, the software won’t deliver the results that the customer truly needs.

Which brings us to our last point…

5. Experience and expertise matter, especially for navigating volatility and changes in the marketplace.

Gravitate has always differentiated itself by having deep knowledge of the energy industry and the c-store business, which comes from extensive experience. Within our team, many of our people have worked in retail, supply chain, transportation, and logistics, which is key for the best buy perspective and helps us to better identify pain points in other organizations’ operations.

One of our primary competitive advantages is that we understand how humans in the c-store space operate in the real world given compliance with laws, logistics, other relevant rules, and physical limitations.

At the NACS Show 2021, prospective customers confirmed that this level of insight is critical and sought after, especially as c-stores face changes to their business landscape.

We’re pleased with what we learned and accomplished at the NACS Show 2021, and we’re looking forward to the SIGMA 2021 Annual Conference in Scottsdale in November. If you’re attending this conference in a few weeks, please keep an eye out for the Gravitate team.

Do you represent a c-store, fuel distributor or carrier that’s interested in more information about Gravitate Best Buy & Dispatch? Contact us for a free demo.