Competitive Landscape of the Fuel and Convenience Store PoS Market
The fuel and convenience store point-of-sale (PoS) market is experiencing rapid growth, driven by factors such as increasing demand for efficiency, rising adoption of mobile and cloud-based solutions, and growing emphasis on customer loyalty programs. This dynamic landscape presents both challenges and opportunities for players in the market.
Key Players:
- Fujitsu Ltd. (Japan)
- VeriFone Inc. (US)
- Diebold Nixdorf Incorporated (US)
- NCR Corporation (US)
- LS Retail (Iceland)
Competitive Strategies:
To maintain their market position, established players are focusing on:
- Product Innovation:Â Continuously improving existing products and developing new solutions that address the evolving needs of fuel and convenience store operators.
- Strategic Acquisitions:Â Acquiring smaller, innovative companies to expand their product portfolio and gain access to new technologies and markets.
- Partnerships:Â Collaborating with technology providers and industry leaders to offer integrated solutions and enhance their value proposition.
- Focus on Specific Segments:Â Targeting specific segments of the market, such as small and independent fuel retailers, with tailored solutions and pricing.
Factors for Market Share Analysis:
Several factors influence a company's market share in the fuel and convenience store PoS market. These include:
- Market Share:Â Overall percentage of the market revenue captured by a company.
- Product Portfolio:Â Range and depth of PoS solutions offered by a company.
- Brand Reputation:Â Established brand reputation and trust within the fuel and convenience store industry.
- Geographic Reach:Â Presence and market penetration across different countries and regions.
- Customer Base:Â Size and diversity of the customer base, including small and large fuel retailers.
- Technological Innovation:Â Ability to develop and offer cutting-edge PoS solutions.
- Customer Service:Â Quality and responsiveness of customer support services.
New and Emerging Companies:
Several new and emerging companies are entering the fuel and convenience store PoS market, challenging the established players with their innovative solutions and competitive pricing. These companies include:
- Shopify: E-commerce platform offering a cloud-based PoS solution specifically designed for convenience stores.
- Square: Mobile payment processing company offering a simple and affordable PoS solution for small businesses.
- Clover: Cloud-based PoS system from Fiserv Corporation, designed for ease of use and integration with existing business systems.
- Revel Systems: Cloud-based PoS platform offering features specifically targeted to the needs of convenience stores, including fuel management and loyalty programs.
- Lightspeed Retail: Cloud-based PoS system offering a comprehensive set of features for managing inventory, customer relationships, and employee performance.
Current Company Investment Trends:
Companies in the fuel and convenience store PoS market are actively investing in several key areas:
- Cloud-based solutions:Â Shifting away from traditional on-premise solutions to cloud-based platforms that offer greater flexibility, scalability, and accessibility.
- Mobile PoS:Â Developing mobile PoS solutions that enable faster checkout times and enhance customer experience.
- Integrated solutions:Â Integrating PoS systems with other business management systems to improve operational efficiency and provide a comprehensive view of business data.
- Data analytics:Â Leveraging data analytics to gain actionable insights from sales data, customer behavior, and inventory levels.
- Security:Â Enhancing security features and protocols to protect sensitive customer data and financial information.
Latest Company Updates:
April 2023- Verifone, a worldwide FinTech leader & payment solution provider to the best-known brands across the globe, lately revealed the introduction of its novel convenience and petroleum store offerings that perfectly pair with its current industry-leading Commander Site Controller & C18 POS. The list of new products on this platform comprise C-18 Self-Checkout, Verifone Food Service, Verifone Convenience, and Verifone BackOffice. The Verifone BackOffice is indeed a strong new cloud-based store management service that is specifically designed for petroleum and convenience retailers, with an out of the box integration which retailers desire comprising the integration with digital & data programs of Altria. Such retail environments possess unique opportunities and challenges. The latest back-office services provide best in class tools to merchants to view as well as manage their complex business in the cloud, at any time, anywhere. Both Verifone Convenience and Verifone BackOffice initially will be launched on Mako Networks MNSP routers, a popular carrier independent, cloud managed Managed Network Service Provider.
September 2022- TLM’s evoPOS has become the foremost fuel and convenience EPOS in joining hands with Deliverect. This will enable countless retailers in managing their online & delivery orders, a vital revenue stream in the delivery on demand consumer trend setting easily. Its software solution will be bringing together every delivery and online order channel like Just Eat, Deliveroo, and Uber Eats to the EPOS directly. This integration enables fuel stations and stores in easily managing their online orders from a sole screen, boosting operational efficiency & staff productivity.