by Ian Thompson, Executive VP, Global Solutions Consultancy
Automated pricing processes can feel like a risk. How will you know if your prices are optimized? Can you really depend on a software solution to boost profit? And how will you feel giving up some control over pricing tactics?
By Ethan Walker, Solutions Consultant
Utter the word "automation" in a room full of people with diverse careers and histories. Some will shudder. Some will ignore. Some will start to get excited at the possibilities. Utter it in a room full of best-in-class fuel pricing analysts, and they're liable to start clapping. While automation is sometimes perceived as threatening, scary or "too difficult," it is absolutely essential from an overall efficiency standpoint. And at the end of the day, it equates to increased revenue, which analysts and executives alike happen to enjoy.
Our high-performance race car is almost complete. We have pulled together a powerful turbo engine, great telemetry, winning powertrain, fantastic crew and the right spoilers and wings. In relation to our convenience store, we are set up for success with great facilities, the right data and analysis of the competition, excellent operations, the right merchandise and world-class pricing.
In Part 1, I introduced the analogy of the convenience retailer as a finely tuned performance car in a challenging race for volume. We explored pricing as the turbo charger, best used in short bursts for growing margin and exploiting daily opportunities, but not the best way to maintain or grow market share. We also looked at how dropping prices across the board to increase volume often results in price wars and minimal volume growth at reduced margins.
You don't always have control over your promotional items, and that means you don't always have a plan to understand their effects on sitewide sales. Your gut instinct on what works and what doesn't is a good start, but is it giving you all the strategic support you need? Access to critical, integrated data can raise your game to the next level.
This time last year, I asked the question: Is Europe falling out of love with the diesel fuel — the fuel that promised so much in terms of its eco-credentials? One year later, I ask a new question: Has anything about Europe's relationship with diesel changed? Or are we on the road to a definitive break-up?
by Debbie Miggins, Vice President, Location Services
Japan continues to lead all other countries in fuel cell electric vehicle (FCEV) adoption and hydrogen station deployment. The United States ranks second; however, Japan’s FCEVs are 2.5 times higher and hydrogen stations are 1.6 times higher as of 2016. Japan has made a bold commitment to build 160 hydrogen fueling stations by 2020, with that number doubling by 2025. Those stations will be needed to support the 40,000 fuel cell vehicles the Japanese Ministry of Economy, Trade, and Industry (METI) expects to have on the road by 2020. And that number is expected to increase to 200,000 by 2025.
