2019 and Fuel Retailers: Important Lessons to Be Learned From the Past Year

With 2018 behind us, it’s time to look at some noteworthy developments (and incidents) that happened during the year, affecting the fuel retail industry, and learn from them to better prepare for the future.

2019 and Fuel Retailers -Important Lessons to Be Learned From the Past Year

Hurricane Florence and Hurricane Michael

Both Hurricane Florence and Hurricane Michael brought great destruction to the U.S; the latter became the strongest storm—based on pressure—since Hurricane Camille in 1969.

Lives were lost, properties (including gas stations) were damaged and infrastructure in the affected areas was reduced to rubble.

Lesson to be learned: Plan for the worst.

General Motors Announcing Plant Shutdowns

General Motors (GM), one of the largest automobile manufacturers in the U.S, announced the closure of five manufacturing plants as it laid down plans for an electric future.

Although, the initiative doesn’t really endanger the dominance of fuel-hogging vehicles at least for the near future, it surely does indicate that EVs are priming for a takeover faster than what we expected.

Lesson to be learned: Start strategizing for the future.

Traditional Gas Stations Exiting the Business

More “traditional” gas stations (those that only sell gasoline at the pump) exited the industry in 2018.

The reason?

Over-reliance on a single stream of revenue and growing operating costs.

The situation wasn’t great for convenience stores either; however, they still performed fairly better than classic gas stations.

Lesson to be learned: Expand your gas station product line.

The U.S Secret Service Uncovering the Biggest Card Skimming Network

The 2018 Thanksgiving holiday period saw the biggest card skimming network to be ever uncovered at U.S gas pumps.

The U.S Secret Service recovered around 200 skimming devices at gas stations from around 400 refueling facilities located in 16 different states across the country.

Lesson to be learned: Move to EMV to fend off skimmers and protect your gas station customers.

Are you well prepared and equipped to drive your gas station business to success in 2019?

The John W. Kennedy Company can help you.

We are one stop shop solution for all your gas station equipment and supply needs. We sell quality gas station breakaways, nozzle swivels, pipe fittings, service station hardware, POS systems and everything else you need to keep your gas station operational, safe and efficient. Visit our online store to view our complete product range.

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