Developing a retail strategy based on TASC’s “retail-excellence principles” for a leading convenience-store chain
- Business Dilemma:
A leading gas-station chain was suffering from a decline in profits in its convenience-store operations due to price volatility and regulatory changes. Executive management believed in the potential of the convenience-store business and approached TASC for assistance in developing a strategic plan for this business.
- Process:
The retail strategy was based on four main components:
1) Thorough market analysis of local and international markets 2) Development of a unique value proposition: design of store clusters and formats, redefining the product portfolio, improving the planogram of the stores, and a new layout methodology 3) Formulation of an innovative pricing strategy – competition-based pricing and price differentiation 4) Detailed financial model with forecasted revenues and expenses, including costs incurred during the implementation phase.
Our team assembled its findings into a marketing plan and detailed three-year business plan.
- Strategic solution & impact:
The recommended strategy was implemented in full, resulting in a significant market share increase.
