Canadian Convenience Stores – Why Change Your Business Model?
No matter where you drive on the Canadian roads, you’ll be able to find tons of convenience stores wherever you go.
Whether it be at a gas station, in your neighborhood, or a shopping plaza, convenience stores provide Canadians with the ability to grab and go.
Especially when you’re on a road trip or driving a long distance, convenience stores are the perfect one-stop shop for everything they need – from food to small gadgets to miscellaneous items.
However, the rise of innovation and consumer preferences have convenience store owners thinking about what convenience means for Canadians.
Here are some other ways convenience stores are changing their business model to adapt to the changing landscape.
For starters, 40% of convenience stores in Canada are connected to a gas station.
Here’s the problem. Seven in 10 Canadians who plan on buying a new vehicle within the next five years are likely to buy an electric vehicle.
Ottawa, for example, committed to a joint investment of $295 million with the Ontario government to produce electric vehicles at Ford’s Oakville plant.
When Canadian cars no longer rely on gas to run, how will convenience stores get business?
Just like the electric vehicle charging stations you might have seen at large shopping malls, convenience stores in Canada are starting to implement these charging stations.
Canadian convenience stores can also aim to offer a more unique and complete in-store shopping experience instead of solely focusing on delivering speed.
Certain convenience store locations in the United States offer a broader range of products rather than the typical convenience store items.
One 7-Eleven “Evolution store” in Texas offers margaritas on tap, a selection of wine and beer, artisan craft sodas, and various coffees.
A section of the restaurant is also dedicated to a taco restaurant with a full menu, an outdoor patio, and indoor dining seats.
Ontario has taken the evolution store as an example and applied for liquor licenses at 61 of its locations. Although alcohol is a more sensitive subject since most provinces restrict convenience stores from selling it.
That’s not to say that these efforts are bad. They are a positive step to evolving the Canadian convenience store industry to become more competitive and customer-friendly.
If you’re looking to revisit your business model, we want to help you succeed. Our team of industry experts can help you implement the changes you want.
Learn more about how you can leverage Storesupport by calling 1-877-421-5081 or visiting www.storesupport.ca.
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