In 2008, to Compete With the US Increasing Gas Sales, Gas Stations Must Re-Evaluate Their Business Models
Posted on: Monday, 20 October 2008, 12:00 CDT
Research and Markets (http://www.researchandmarkets.com/research/a2b90d/gas_stations_in_th) has announced the addition of the "Gas Stations in the United States 2008" report to their offering.
Gas prices are at an all time high, which has led to increasing gas sales. Yet, consumers are driving less, seeking transportation alternatives, and shopping-around for deals. To compete, gas stations must re-evaluate their business models. At the heart of this, station operators need to look at creative ways to attract customers.
This report outlines a number of strategies for differentiation:
What foodservice offerings will be most effective?
How extra services can lure in a new breed of customer?
How to best target Hispanics, families with children, larger households, and young adults?
How payment alternatives can ease the burden of credit card fees and how to implement these changes?
Key Topics Covered:
Scope and Themes
What you need to know
Definition
Data sources
Sales data
Consumer survey data
Abbreviations and terms
Abbreviations
Terms
Executive Summary
Key points
Gas prices alter the market dynamic
In-store activity needs to increase
Foodservice the "next big thing"
Beyond foodservice
Convenience still at the core
Special features can make a difference
Advertising an essential effort
Branding can present a pitfall
Key demographics
Families with children and large households
Younger respondents are also making more trips to gas stations
Hispanics deserve special attention
Market Size and Forecast
Key points
The joy ride is over
Yet retailers continue to battle for customers
Figure 2: U.S. sales at gas stations, 2003-13
Figure 3: U.S. sales at convenience stores, 2001-12
Segmentation
Key points
Gas ultimately is not the profit leader
In-store holds challenging potential
Figure 4: U.S. sales at gas stations with convenience stores, 2001-12
Figure 5: U.S. sales at other gas stations, 2001-12
Figure 6: U.S. sales at gas stations, by segment, 2006 and 2008
Figure 7: U.S. Motor fuel sales at convenience stores, 2002-12
Figure 8: In-store sales at convenience stores, 2001-12
Figure 9: U.S. sales at convenience store, by segment, 2005 and 2007
Decision Making Drivers
Key points
As gas prices hit all time highs...
Figure 10: Average annual crude oil pricing, 2002-06
Figure 11: Average gas price, third week of July, 2004-08
...people drive (and spend) less and hunt for bargains
Desperate consumers shop around
The many-headed hydra of cash versus credit
What's bringing them in-store - Foodservice highlights
Figure 12: Growth of foodservice in c-stores, 2004-07
Prepared food
Hot dispensed beverages
What's bringing them in-store - merchandise highlights
Figure 13: Growth of merchandise in c-stores, 2004-07
Tobacco
Packaged beverages
Beer/malt beverages
Brand Qualities
Key points
Perception of oil companies getting richer
Marathon Oil Corp.
BP
Innovation and Innovators
Key points
Offering "win-win" payment alternatives
"Green" gas stations
Beyond the traditional format
Offering alternative fuels
Ethanol
Biodiesel
Fuel Cell Vehicles
Advertising and Promotion
Key points
Foodservice bargains
"Pumpvertising"
Our gas is better than their gas
Campaign spotlight - Passionate Experts
Figure 14: Shell television ad, 2007
Television ads
Figure 15: am/pm television ad, 2007
Figure 16: am/pm television ad, 2007
Figure 17: Citgo television ad, 2007
Figure 18: Marathon television ad, 2007
Figure 19: Speedway television ad, 2007
Figure 20: Speedway television ad, 2007
Figure 21: Speedway television ad, 2007
Figure 22: Speedway television ad, 2007
Figure 23: Speedway television ad, 2007
Figure 24: Valero television ad, 2007
Figure 25: Valero television ad, 2007
Key Demographics
Key points
Children and larger households drive trips
Figure 26: U.S. population projections of kids, by age, 2003-13
Figure 27: Number of married and single U.S. households with children, by age, income and race/ethnicity, 2005
Hispanics have more kids and prefer a more intimate shopping experience
Figure 28: U.S. population, by race and Hispanic origin, 2003-13
Figure 29: U.S. buying power, by ethnicity, 1990-2011
Frequency of Gas Station Visits
Figure 30: Frequency of gas station visits, presence of children in household, July 2008
Figure 31: Frequency of gas station visits, by number of people in household, July 2008
Figure 32: Changes in number of gas station visits, by age, July 2008
Figure 33: Changes in number of gas station visits, by presence of children, July 2008
Figure 34: Impact on driving due to high gas prices, by age, July 2008
Figure 35: Impact on driving due to high gas prices, by presence of children, July 2008
Average Expenditure
Figure 36: Average spent per week at gas stations, by presence of children, July 2008
Figure 37: Average spent per week at gas stations, by number of people in household, July 2008
Items Purchased
Figure 38: Items purchased at gas stations, by age, July 2008
Figure 39: Items purchased at gas stations, by presence of children, July 2008
Types of Food/Drink Purchased
Figure 40: Food/drink purchased at gas stations, by age, July 2008
Figure 41: Food/drink purchased at gas stations, by region, July 2008
Attitudes About Gas Stations/Reasons For Not Purchasing
Figure 42: Attitudes about gas stations, by age, July 2008
Figure 43: Attitudes about gas stations, by number of people in household, July 2008
Figure 44: Reasons for not buying things other than gas, by age, July 2008
Figure 45: Reasons for not buying things other than gas, by presence of children, July 2008
Race and Ethnicity
Frequency of gas station visits
Figure 46: Frequency of gas station visits, by race/Hispanic origin, July 2008
Figure 47: Changes in number of gas station visits, by race/Hispanic origin, July 2008
Figure 48: Impact on driving due to high gas prices, by race/Hispanic origin, July 2008
Average expenditure
Figure 49: Average spent per week at gas stations, by race/Hispanic origin, July 2008
Items purchased
Figure 50: Items purchased at gas stations, by race/ethnicity, July 2008
Types of food/drink purchased
Figure 51: Food/drink purchased at gas stations, by race/Hispanic origin, July 2008
Attitudes about gas stations/reasons for not purchasing
Figure 52: Attitudes about gas stations, by race/Hispanic origin, July 2008
Figure 53: Reasons for not buying things other than gas, by race/Hispanic origin, July 2008
Deeper Analysis--Infrequent Fillers, Gas Gateways and Loyal Denizens
Insights
Infrequent Fillers
Gas Gateways
Loyal Denizens
Cluster 1: Infrequent Fillers
Cluster 2: Gas Gateways
Cluster 3: Loyal Denizens
Figure 54: Gas station visitor clusters, Month 2008
Figure 55: On average, how often do you visit gas stations? by gas station visitor clusters, Month 2008
Figure 56: Compared to one year ago, do you...? by gas station visitor clusters, Month 2008
Figure 57: On average, how much do you spend per week shopping at gas stations (including gas)? by gas station visitor clusters, Month 2008
Figure 58: Which of the following items do you buy at gas stations? by gas station visitor clusters, Month 2008
Figure 59: Do you agree or disagree with the following statements? by gas station visitor clusters, Month 2008
Figure 60: Thinking of higher gas prices, please tell us whether you agree or disagree with the following statements by gas station visitor clusters, Month 2008
Figure 61: Gas station visitor clusters by gender, Month 2008
Figure 62: Gas station visitor clusters by age group, Month 2008
Figure 63: Gas station visitor clusters by income group, Month 2008
Figure 64: Gas station visitor clusters by race, Month 2008
Figure 65: Gas station visitor clusters by Hispanic origin, Month 2008
Methodology
Appendix: Frequency of Gas Station Visits
Figure 73: Frequency of gas station visits, by gender, July 2008
Figure 74: Frequency of gas station visits, by age, July 2008
Figure 75: Frequency of gas station visits, by household income, July 2008
Figure 76: Frequency of gas station visits, by region, July 2008
Figure 77: Changes in number of gas station visits, by household income, July 2008
Figure 78: Changes in number of gas station visits, by region, July 2008
Figure 79: Changes in number of gas station visits, by number of people in household, July 2008
Figure 80: Impact on driving due to high gas prices, by gender, July 2008
Appendix: Average Expenditure
Figure 81: Average spent per week at gas stations, by gender, July 2008
Figure 82: Average spent per week at gas stations, by age, July 2008
Figure 83: Average spent per week at gas stations, by household income, July 2008
Appendix: Items Purchased
Figure 84: Items purchased at gas stations, by gender, July 2008
Figure 85: Items purchased at gas stations, by income, July 2008
Figure 86: Items purchased at gas stations, by region, July 2008
Figure 87: Items purchased at gas stations, by number of people in the household, July 2008
Appendix: Types of Food/Drink Purchased
Figure 88: Food/drink purchased at gas stations, by gender, July 2008
Figure 89: Food/drink purchased at gas stations, by household income, July 2008
Figure 90: Food/drink purchased at gas stations, by presence of children, July 2008
Figure 91: Food/drink purchased at gas stations, by number of people in household, July 2008
Appendix: Attitudes About Gas Stations/Reasons For Not Purchasing
Figure 92: Attitudes about gas stations, by gender, July 2008
Figure 93: Attitudes about gas stations, by household income, July 2008
Figure 94: Attitudes about gas stations, by presence of children, July 2008
Figure 95: Reasons for not buying things other than gas, by household income, July 2008
Figure 96: Reasons for not buying things other than gas, by region, July 2008
Appendix: Trade Associations
Companies Mentioned:
- Best Buy Co.
- BP p.l.c.
- Brookshire Brothers, Ltd
- CBS Corporation
- ConocoPhillips
- CVS Corporation
- Department of Federal Highway Administration (FHWA)
- Dunkin' Brands
- Exxon Mobil Corporation
- Ford Motor Company (USA)
- General Mills Inc
- Giant Eagle
- Greenfield Online
- KFC Corporation
- Kraft Foods Inc. (U.S.A.)
- McDonald's U.S.A.
- Meijer
- National Association for Stock Car Auto Racing (NASCAR)
- National Association of Convenience Stores
- Nielsen Media Research, Inc.
- Pizza Hut Inc
- Procter & Gamble USA
- Sheetz, Inc
- Shell Oil Products US
- Speedway SuperAmerica
- Starbucks Corporation
- Stater Bros. Holdings Inc
- Taco Bell Corp.
- Tesco (US)
- The New York Times Company
- U.S. Bureau of Labor Statistics
- Valero Energy Corporation
- Visa U.S.A. Inc.
- Wakefern Food Corporation
- Walgreen Co
- Wal-Mart Stores (USA)
- Walt Disney Company, The
For more information visit http://www.researchandmarkets.com/research/a2b90d/gas_stations_in_th
Source: Business Wire
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