Category management provides the framework for developing a clear focus for serving the market. It provides a way for convenience store operators and their suppliers to work together to strengthen the value they provide to consumers. Given the challenges with fuel margins, c-store operators are focusing more attention toward enhancing margins from within their stores. The estimated industry profit from implementing category management is over $1.5 billion or approximately 1% in additional gross margin, which can equate to up to $10,000.00 per store. In order to achieve these returns, retailers and suppliers must work together on category alignment strategies based on the NACS Category Definitions and incorporate new technologies, business processes and information sources into their analysis. Balance and placement of your stock, effective promotions and incorporating loyalty programs and information are key to creating profit inside the store. This session will provide “clear” category management strategies used by a panel of leading retailers and suppliers and reveal bottom-line results and benefits in their efforts to enhance in-store margins, increase customer loyalty and lower costs.
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