Fuel and convenience retailers must rethink core strategies to drive future growth

The five megatrends revolutionizing fuel and convenience retail in 2025 

Discover why industry experts say retail’s most dynamic sector is changing faster than ever  

The fuel and convenience retail channel is dealing with massive change on multiple fronts. Traditional business models are being disrupted by the growth of electric and hybrid vehicles, acceleration of the “foodvenience” trend, and the shifting product preferences and elevated service expectations of customers. Even the words fuel and convenience are taking on new meaning as the phrase “mobility retail” is adopted. 

To provide clarity on the impact of these changes, SymphonyAI brought together four industry thought leaders to share their views on the topic, “Forecast 2025: What’s Next for Fuel and Convenience Retail.” Participants included Dan Munford, founder and CEO of Insight Research; Anthony Wysome, senior consultant, Insight Research, Rob Lane, senior director, fuel and convenience, SymphonyAI; and Patrick Simons, sales director, SymphonyAI. 

Clear themes that emerged from the wide-ranging conversation included clarity about the definition of mobility retail, the impact of prepared food and fast-charging, and top ways the industry must change to capitalize on its core of convenience. The following are top takeaways from the panel discussion, the full recording of which is available here. 

#1. The electrified future has arrived 

The continued growth of EVs, including hybrid, electric and plug-in hybrid vehicles is the most significant megatrend affecting the future of the fuel and convenience channel. Following record sales in recent years, EVs are on track to account for every other car sold globally by 2035, according to the International Energy Agency (IEA) report, “Global EV Outlook 2024.” That means by 2030, almost one in three cars on the roads in China will be electric and almost one in five in both the United States and European Union will be electric, according to IEA. 

The adoption of EVs varies globally but is especially pronounced in China where leading manufacturer BYD recently announced the sale of its 10 millionth EV. It’s a remarkable accomplishment that speaks to the potential pace of adoption elsewhere. Half of the 10 million units sold occurred since mid-2023, offering retailers reliant on gasolines sales a view of how quickly markets can change. 

Some markets globally are already well ahead of the EV curve, according to Dan Munford. He cited examples of EV sales penetrations rates in some Nordic countries that already exceed 90%. That shift has caused some retailers to open locations that only provide charging. 

While the EV trendline is clear, the timing of the upward trajectory will vary by country due to government and manufacturer incentives, the alleviation of range concerns, improved affordability and expansion of the fast-charging network. Another variable involves the pace at which automakers phase out production of internal combustion engines, a commitment some manufactures have already made. 

#2. The impact on sales and customer traffic 

Fuel and convenience retailers globally can expect major impacts on customer traffic and sales if IEA’s growth scenarios prove correct. The organization’s report highlights that the projected adoption of all types of EVs would lead to demand reduction of six million barrels of oil daily by 2030. Looking out to 2035, the figure increases to 10 million barrels daily which is roughly equivalent to the current daily rate of U.S. consumption by motor vehicles. 

The implications of this megatrend are huge considering in the U.S. alone about 80% of motor vehicle fuel sales occur at 120,000 fuel and convenience stores, according to the most recent data from the trade association NACS. 

Speakers noted that fuel and convenience retailers are grappling with how to evolve their business models and serve customers in new ways in a world where their traditional source of sales and customer traffic fades. 

#3. The “foodvenience” opportunity 

Food and fast charging were mentioned by speakers as a source of success in a world where the traditional concept fuel and convenience transitions to the next generation mobility retail era defined by a more expansive offering of products and services. 

For example, speakers noted that it is already common to see leading retailers in markets worldwide who provide high quality food and beverage offerings as a way to generate traffic and broaden their sales mix. These elevated product offerings can rival or exceed options available at some traditional quick service restaurants who are seen as potential market share donors. 

Some examples shared by Munford and his Insight Research colleague Anthony Wysome included winners of the firms’ inaugural program “Best Foodvenience Store in the World.”  Winner of the program was Applegreen, an operator of 600 locations in Ireland, the U.K. and the U.S. The company distinguished itself with a location in Rathcoole, Ireland that features collaborations with Marks & Spencer and the premium coffee brand Braeburn and seating for 200 to encourage people to linger. 

The second and third place finishers respectively were FGC, which operates Lion Place branded stores in Argentina and U.S.-based Dash In, a brand of the Wills Group which uses  SymphonyAI’s Shelf Planning software. These and other companies recognized in the awards program are representative of the “foodvenience” megatrend discussed during the webinar and offer an indication of how the shift to mobility retail from fuel and convenience comes to life. 

#4. Faster charging fuels new opportunities 

The electrification of transportation, while an initial operational challenge and potential sales headwind due to reduced demand for gasoline, is ultimately beneficial for retailers with convenient locations. This is especially true as fast charging capabilities improve and vehicle charging away from home is seen as a more viable option, according to webinar participants. 

To make that a reality speakers pointed out that mobility retailers need to improve the overall store experience and product offerings. Doing so helps minimize the perception of dwell times while vehicles are charging and allows retailers to appeal to more shopper segments. 

Patrick Simons from SymphonyAI and Anthony Wysome with Insight Intelligence both described the importance of creating an inviting atmosphere for customers as EV charging becomes more common. Unlike quick fuel stops, EV charging typically takes 15 to 20 minutes, necessitating what the pair described as an enriched experience in facilities with quality food options, clean restrooms, and other amenities that encourage drivers to spend more time and money on site. 

This marks a shift for some traditional fuel stations, Wysome noted, because they often catered more to male drivers, with limited healthy food options and basic amenities. However, the new era of EV hubs offers a chance to rethink and redesign spaces to attract a broader range of customers, including women and families. Clean, well-maintained restrooms and healthier food choices make a significant difference in customer satisfaction and repeat business. 

#5. Technology ties it all together 

The final megatrend panelists discussed was the role of predictive and generative AI as the catalyst that helps mobility retailers execute their strategic objectives. Because mobility retail can involve a combination of expanded and localized product assortments, increased service offerings and fast charging and conventional fuel options, retailers require advanced technology to cope with the increased operational complexity, according to SymphonyAI’s Rob Lane. That increased complexity increases the importance of shopper insights, on-shelf product availability, planogram and promotional compliance, and ensuring labor is highly productive.  

It’s why Lane emphasized the importance of having a 360-degree view of shopper behavior known as “full site analytics.” The situation in which many retailers find themselves currently is one where disparate systems and information flows don’t provide the full view of customer behavior needed to make mobility retail a reality. A full view of how customers interact with fueling options, food service and other product purchases let retailers take advantage of advanced analytics to identify previously undetectable opportunities. 

Lane highlighted how when various service touchpoints are linked with AI-powered solutions retailers can provided a seamless experience and make more effective product assortment and promotion decisions. 

SymphonyAI’s Simons discussed the perception that technology might lead to job losses, but made the case that it often enhances human roles instead. For instance, by automating mundane tasks, technology allows staff to focus on customer interaction and service quality. Training programs supported by technology can also improve workforce skills and job satisfaction. 

Panelist predictions focus on technology 

The panel discussion ended with Munford, Wysome, Simons, and Lane sharing their top predictions for 2025 and beyond. 

Munford predicted that the convenience industry would excel in fast-charging infrastructure due to its expertise in managing amenities. He suggested that retailers who understand how to create a comprehensive service experience around EV charging, including quality food, safe spaces, and reliable Wi-Fi, would be best positioned to capitalize on the shift. 

Wysome foresaw a rise in the share of quick-service restaurants (QSRs) at fuel locations, bolstered by technological integration. He also highlighted that consumers today expect more than just a quick snack; they seek protein-rich, healthier options that align with broader wellness trends. This change is being fueled by societal shifts and innovations like AI, that enable retailers to adapt menus and product offerings swiftly. 

Simons added that the evolving role of fuel and convenience locations could lead to them becoming community hubs. He pointed out that younger generations, who are used to a seamless digital experience, will gravitate towards locations that offer both convenience and quality. As a result, these sites might start to resemble food courts or collaborative spaces rather than traditional fuel stations. 

Lane asserted technology will play an even greater role in managing the transition from traditional fuel and convenience retail to the more encompassing mobility retail approach. It is a world where analytics are essential but only possible when retailers have full site visibility and unified data sources. 

One prediction that was agreed on by all is that a new generation of successful mobility retailers will emerge from the industry’s critical inflection point because they embraced change. They created holistic, technology-enabled, and customer-centric experiences that go far beyond traditional fuel sales and reimagine the entire retail experience.