Each month, NACS Magazine publishes the “Bits & Bytes” column, addressing the technology issues that affect the convenience and fuel retailing industry. This month’s column by Conexxus Executive Director Gray Taylor provides insight on how convenience is being redefined in consumer terms. For more on technology topics, visit Conexxus.org or register to attend the Conexxus Annual Conference in Annapolis April 26-30.
The CES (Consumer Electronic Show) and NRF (National Retail Federation) took place last month, and reports coming out of these events forecast a more tech-savvy and connected consumer. Having a relevant and appealing consumer-facing strategy is no longer a luxury, it is table stakes. As Boomers leave the consumer stage, to be replaced by Millennials, the good news is convenience — that “thing” we sell — is more important than ever, but it is being defined in fast-changing consumer technology terms.
The implied threat to our industry also comes from this same technology. Technology has the power to blur walls and destroy business models (even monopolies). If you don’t believe me, ask your local cab company about Uber. We know that adjacent markets are spoiling to capture our niche of the convenience shopper — perhaps one “killer” innovation away from taking them. To be sure, our industry must be there first, but the risk is in being distracted by the wrong “shiny object” in the technology sky. We have limited resources, and need to get our few bets on the right innovations!
Placing the right bets is where Conexxus is your best — and probably least used — ally. Most folks know us as the “standards guys” who write technical interoperability standards that enable the various systems at work in our industry to exchange data. That is half the story.
Conexxus also leverages the talent, expertise and vision of its volunteer membership to bring clarity to a very murky and highly dynamic technology horizon, so our industry can make informed choices about the bets they make, with standards in place to ease the implementation. We are the industry’s “product manager,” tasked with helping our entrepreneurial market compete in a world of giants — and we want your engagement.
Technology represents a huge world of opportunities, and you can’t afford to go it alone.