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The nature of society is changing—driven by global consumer, industry and technology trends.
The future presents challenges as well as opportunities. Fuel retailers need to understand how a number of emerging developments can help them build and improve their businesses.
Machine-to-machine communications and the Internet of Things are driving customer engagement and operational improvement.
By 2030 all new cars produced globally are expected to support 'connected' features1.
The number of smartphones in circulation is predicted to reach 6 billion by 2020, and wearable technologies are predicted to become mainstream.
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Flexible working hours and at-home working—along with improved internet speeds are reshaping the “daily commute.”
Approximately 4.2 million, or 14 percent of employees in the UK were classed as ‘home-workers’ in 2015 3.
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Vehicle-sharing services are disrupting traditional infrastructure and revolutionizing the way consumers and businesses use transportation.
Ride-hailing apps have claimed to generate up to 11 million rides a day globally4 and are expected to grow exponentially.
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User-friendly, cross-platform digital technologies are offering consumers a wider range of flexible options.
Technology start-ups have been able to provide services quicker, more conveniently and at lower cost than competitors.
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Biofuels, LPG, fuel cells and batteries offer new sources of power.
Fully electric vehicles are now widely available, and hybrid electric vehicles (internal combustion + lithium-ion batteries) are offering flexibility and increased driving range.
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1"Data to become new profit centre for car makers" 5 December 2015, The Telegraph Online © 2015. Telegraph Media Group Ltd via Factiva.
2"Global smartphone users to cross 6-bn level by 2020: Baidu" 15 February 2016, Press Trust of India © 2016. The Press Trust of India Limited via Factiva.
3"Home worker numbers rise by 800,000" 5 June 2015. Press Association Newswire ©2015. The Press Association via Factiva.
4"Ride-hailing apps on the rise". 31 May 2016, SMEBiz News / The Star Online © 2016. Star Media Group Berhad via Factiva.
Expects personalisation and speed
Values ethical practices
Seeks price transparency
Is connected to multiple digital platforms
Expects physical retail plus digital options—"clicks and mortar"
Zahra Bahrololoumi explores the digital consumer of the future in the April 2016 Petroleum Review.
This article was first published in Petroleum Review's Retail Marketing Supplement, published in April 2016. See www.energyinst.org for more information.
READ THE ARTICLE [PDF]What do fuel retailers need to do to start their journey to meet—and exceed—the evolving needs of digitally-savvy consumers?
Having quick and easy access to the right data can help fuel retailers:
Shape retail offerings based on demographics and geographic information
Personalise offerings for each customer based on previous purchases
Optimize operations, improve maintenance regimes and reduce downtimes
Understand relevant, disruptive technologies that can enable innovative service offerings
Identify the best partners to deliver these digitally-enabled, higher levels of service
The velocity of change will not slow down so prepare to be agile:
Structure your business to identify, accept and act swiftly on emerging threats
Future-proof capabilities at sites and head office locations
Becky is a senior manager in Accenture's Digital practice. She has deep functional knowledge across the retail value chain, and is truly passionate about marketing and loyalty and customer experience.
Judith has over 7 years of experience working with major oil companies across the retail value chain, helping them to embrace digital disruption. Judith specialises in helping convenience retailers grow their business through business and technology strategy, customer marketing and analytics.
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