Cannabidiol (CBD) continues to move into the mainstream with a broader range of consumers picking up products to meet a long list of varying needs. In the first quarter of 2020, 9% of CBD consumers purchased products through a convenience store, up from 5% in 2019, according to consumer surveys conducted by CBD consumer…
Show Pride In Your Work and You, Too, Will Believe In Miracles
I’ve talked about Pride many times before and what I really admire about it is that, with a great measure of Pride, one is able to successfully accomplish excellence in most any task or discipline you may conjure up. Humor me and follow my ancient brain’s rumblings and ramblings for just a few moments;…
Out and About the Industry
No longer a retail stepchild, convenience stores have held up remarkably well during the COVID-19 pandemic, while other “non-essential” retail sectors have faltered. Exceedingly high rack-to-retail fuel margins mitigated reduced fuel demand and helped insulate our industry from the ugly situation faced by quick-service restaurants, casual dining and general retail. For investors and lenders, the…
Stay Competitive!
For a while, in many parts of our great nation dealers and convenience chains had enjoyed better-than-anticipated fuel margins for far longer than expected. My message today — COVID-19 or not — is to remind one and all not to overlook the promotion and polish that bring fuel customers into the store to spend where…
Maintaining Your Culture in Challenging Times
Top-quartile convenience store chains have recruiting and retention habits that give them a leg up on the competition. However, attracting and retaining top-notch talent does not happen overnight. It’s the result of hard work, an excellent training plan and years of experience, and the payoff is incalculable, as we have seen during this COVID-19 crisis.…
Time For a New Approach to CBD
As the cannabidiol (CBD) category grapples with unusual circumstances, retailers must implement new tactics when selling CBD products. CBD sales were rolling along until two unusual circumstances caused a blip. First, the illegal tetrahydrocan- nabinol (THC) vaping crisis of late 2019 practically eliminated sales of CBD vaping items and negatively im- pacted sales of…
LinkedIn – The Power of Networking
When I started Gray Cat Enterprises in 2004, I was living in Chicago and for the first couple of years, all of my clients were based in Illinois. This was fine at the time, since I had a boatload of opportunities. Then, a buddy of mine told me about LinkedIn, so I looked into it…
Advice for Launching a Successful CBD Business
Having founded Natural Life, one of the first multi-unit of retail stores to specialize in both CBD products as well as other holistic plants, I have learned a few things that could have made getting this now successful business off the ground much easier. As with founding any company, it’s critical to have very…
Coming Through for Customers and Employees
This is a challenging time for all of us as our nation continues to grapple with the current events. I remain amazed at the collective selfless response of those serving on the front lines — from healthcare workers and first responders, to convenience store team members working around the clock to serve customers and keep…
Swede’s Corner: Responding to COVID-19
Author’s note: As you might imagine, my inbox has been overloaded with questions revolving around what can be done in store to respond to the COVID-19 pandemic and the resultant customer engagement issues. Here is my take on addressing the various queries, in part or in whole, of the submittals. One thing is certain; there…