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EdgeLive: How to Assess Your Local Market

  • Understanding core consumers and needs is vital for the future
  • Oil price has been increasing (50% up since start of year. Fluctuating prices make for a difficult environment)
  • Unpredictability due to Covid
  • Understanding brand, how do you brand inside your store, use different point of views. Put yourself in competition shoes, not only your own
  • Look at where site is located, driving distance, traffic flow
  • Always good to estimate current customers. It may be hard without a huge dataset but still valuable to have
  • Always be thinking about data, how you are running your station, being able to look back historically
  • Do you see yourself as a fuel retailer that has a shop? Or as a shop owner that has fuel

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