SurgePays recently conducted a survey focusing on the underbanked and underserved communities looking at consumers’ perspectives and attitudes toward independent local convenience stores. According to the survey, American consumers regard their local, independent convenience stores and bodegas in near unanimous high regard, with 94% of them calling the stores somewhat important (34%), very important (34%) or extremely important (26%) to their friends and community.
“SurgePays is laser-focused on meeting the needs of the underbanked and underserved,” said Brian Cox, chairman and CEO of SurgePays. “Our decades of experience in this market, coupled with our ongoing market research and front-line sales data enables us to develop and roll out new services that are not just needed but are sought out by our target consumers. It’s extremely fulfilling when your revenue opportunities are driven by providing these life-enhancing telecom and financial services through the neighborhood stores in these communities.”
In fact, more than half (51%) visit convenience stores (including community markets, neighborhood stores, corner stores, bodegas and tiendas), followed by grocery stores (25%), gas station stores (5%) and drug stores (3%); 16% indicated they don’t shop at any of these merchant types.
In terms of frequency of shopping at their favorite local convenience store, 59% do so between one and six times weekly — more than one-third (35%) visit one or two times weekly; 17% visit three to five times weekly, with 7% frequenting their store six or more times weekly.
Other interesting data about underbanked/underserved consumers revealed by the survey Includes:
- Consumers are twice as likely to go to the convenience store almost every day (14%) versus the general population.
- The top five items consumers typically buy at their preferred local independent store are snack food (71%); coffee/beverages (50%); everyday food/meals (48%); milk (47%); and lottery tickets (32%).
- Thirty-seven percent of consumers who shop at independent convenience stores said they know the first name of their favorite clerk or store owner; that percentage drops to 33% for consumers without a checking, savings or credit card account (vs. 41% with those accounts).
- Forty-six percent of respondents have shopped at their favorite independent local convenience store or bodega for four or more years; 14% have shopped with their favorite local store for three years; 21% have shopped there for two years; 10% for one year; and 9% have shopped there for less than a year.
SurgePays Inc. is a technology and telecommunications company focused on the underbanked and underserved communities. SurgePhone Wireless provides mobile broadband to low-income consumers nationwide. SurgePays’ blockchain fintech platform utilizes financial and prepaid products to convert corner stores and bodegas into tech hubs for underbanked neighborhoods.