Leading up to the Asia Fuel Retail Conference in Kuala Lumpur on 26-27 June, PetrolWorld is publishing special articles on key technology issues that affect fuel retail & distribution markets with the end user.
Last week, we published the first of a three part "Introduction to Mobile Commerce". This week in Part 2, P97 Networks continue the series with "Diving Deeper: The Disconnect Between Consumer Needs and Fuel Retailers’ Capabilities"
Marketing Campaign Cost / Effectiveness
Current IT architecture limits the implementation of world-class loyalty programs and cost effective digital marketing programs by restricting the use of data. Though there may be sufficient data to enable behavioural marketing programs, architectural limitations prevent the system from being able to process that data.
The volume of information available is increasing exponentially, which is an ideal scenario for retailers. But fuel retailers are missing out on the benefits, and are unable to capture consumer data and make meaningful correlations, primarily due to a lack of data acquisition and integration.
This data disconnect means that it’s difficult and often impossible to obtain or use data quickly and efficiently to get the information and answers needed for improved brand loyalty, trend identification, behavioural influence, and operational performance optimization.
IT Infrastructure / Upgrade / Cost of Ownership
Fuel retailers are looking for ways to reduce IT support and costs of technology upgrades. With the recent EMV liability shift, there was significant investment upgrading card readers in fuel dispensers and point of sale systems. For larger fuel retailers, the investment was significantly higher, upgrading proprietary forecourt and legacy POS systems, which will only provide minor functional changes.
The current state of IT infrastructure with most fuel retailers is they’re unable to adequately support and respond to analysis, operations and business needs. Existing IT architectures are often limited by siloed applications, poor integration, and barriers to collaboration. There is limited consumer data captured at the point of sale, and a lack of integration encumbers use of technology like complex event processing to optimise decisions and execute real-time behavioural marketing.
Compliance and Transaction Costs
With constantly changing regulations and payment card compliance mandates, like EMV technology and Payment Card Industry compliance, fuel retailers are trying to understand and manage the impacts on their business.
Part 1 Introduction to Mobile Commerce was published on the 28th March 2018
P97 Networks will be exhibiting at the Asia Fuel Retail Expo in Kuala Lumpur being held on 26-27 June 2018.