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How digital is disrupting the fuel retail experience ACCELERATE THE CUSTOMER JOURNEY DIGITAL FUEL RETAIL SURVEY 2019

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Page 1: ACCELERATE THE CUSTOMER JOURNEY prese… · How digital is disrupting the fuel retail experience ACCELERATE THE CUSTOMER JOURNEY DIGITAL FUEL RETAIL SURVEY 2019

How digital is disrupting the fuel retail experience

ACCELERATE THE CUSTOMER JOURNEY

DIGITAL FUEL RETAIL SURVEY 2019

Page 2: ACCELERATE THE CUSTOMER JOURNEY prese… · How digital is disrupting the fuel retail experience ACCELERATE THE CUSTOMER JOURNEY DIGITAL FUEL RETAIL SURVEY 2019

Copyright © 2019 Accenture. All rights reserved.Copyright © 2019 Accenture. All rights reserved.

DISRUPTION IS THE NEW NORMAL

EXAMPLE DISRUPTIONS IN FUEL RETAIL...

YOUR CUSTOMERS WILL NO LONGER

NEED TO BUY FUEL

YOUR CUSTOMERS WILL NO LONGER

OWN AND MAINTAIN A CAR

CONNECTED CARS WILL ENABLE NEW

SERVICES

EXPONENTIAL COMPETITIVE

CONSUMER MARKET

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Copyright © 2019 Accenture. All rights reserved.

Are you really connected to your customers?

2019 2021 2024 2027 2030

BLOCKCHAINAIDRONES / ROBOTICSIOT

EXTENDEDREALITY

SO MANY QUESTIONS…

3

Have you identified the capabilities to sustain your business in the future?

Are you willing to invest in these capabilities because you believe in the upside?

What if the only businesses to survive are those offering the customer a great experience?

How will autonomous vehicles impact your business?

What if you will be disrupted by new competitors who will i.e. sell fuel at zero margin?

What if you have not even identified the disruptors of the future for your business yet?

What if you have to act as a true retailer, not a fuel retailer? Will you be able to compete with the “round the corner” shop?

Can you better connect the physical and digital experience for your customer?

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Copyright © 2019 Accenture. All rights reserved. 4

66%OF FUEL RETAILERS BELIEVE AUTOMATION CAN IMPROVE THE CUSTOMER EXPERIENCE …

Do you believe that any of the following could improve the customer experience in your fuel retail site?

Copyright © 2019 Accenture. All rights reserved.

More automation of the fuel retail site

More personalized offers to customers

Enhanced loyalty schemes

Better facilities in the fuel retail site

More hyper-personalized offers to customers

66%

53%

45%

44%

42%

Multiple responses (top five only)

FUEL RETAILERS RECOGNIZE DIGITAL CAN HELP

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Copyright © 2019 Accenture. All rights reserved. 5

TREND 1DISRUPTION IS HERE AND ACCELERATING

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Copyright © 2019 Accenture. All rights reserved. 6

Which of these trends do you believe have the greatest impact on your fuel retail business in the next 3-5 years?*

Rise in electric vehicles usage

Changing consumer demands

Increasing vehicle/engine efficiency

Regulatory changes

Increasing competition

57%

41%

32%

31%

26%

FUEL RETAILERS RECOGNIZE THE IMPACT OF THE DEMAND DISRUPTION COMING FROM ELECTRIC VEHICLES (EVS) AND CHANGING CONSUMER PATTERNS

TREND 1

Multiple responses (top five only)Base = Total sample; n=88

*trends vary by market

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Copyright © 2019 Accenture. All rights reserved. 7

TREND 2COMMITMENT TO DIGITAL INVESTMENTS

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Copyright © 2019 Accenture. All rights reserved. 8

In the next 3-5 years, will your fuel retail business or your company plan to invest in digital technologies?

DIGITAL INVESTMENT WILL INCREASE SIGNIFICANTLY IN THE NEXT THREE TO FIVE YEARS…

TREND 2

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Unique responsesBase = Total sample; n=88

45%

36%

5%3%

2%

8%

Significantly more (20% or greater)

More (1% - 19% more)

The same

Less (1% - 19% less)

Significantly less (20% or greater)

Not investing in digital technology

Don’t know

Key

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Copyright © 2019 Accenture. All rights reserved. 9

…TO BETTER SERVE CUSTOMERS…

TREND 2

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…AND TO IMPROVE SERVICES

If you are planning to invest more in digitalization in the next 3-5 years, which of the following outcomes are you looking to achieve?

Which of the following capabilities and services are you investing in at individual forecourts in the next 3-5 years?

72%Better customer retention

69%Increase in convenience store sales

60%Increase in number of customers

58%Mobile payments

51%Mobile marketing/loyalty platforms

45%Contactless payments

Multiple responses (top three only) Base = Total sample; n=88

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Copyright © 2019 Accenture. All rights reserved. 10

TREND 3ANALYTICS ENHANCES PERFORMANCE

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Copyright © 2019 Accenture. All rights reserved. 11

Which of the following technologies are driving the greatest impact in terms of the performance for your fuel retail business?

Analytics/big data

Automation

Mobility

66%

53%

36%

Multiple responses (top three only)Base = Total sample; n=88Copyright © 2019 Accenture. All rights reserved.

FUEL RETAILERS BELIEVE DIGITAL BRINGS ADVANTAGES AND THEY ACKNOWLEDGE THE VALUE OF DATA ANALYTICS

What kind of advantage (if any) do you believe higher digitalization will have on your fuel retail business?

28%

47%

24%

1%

Great

Large

Average

Small

None

Key

Unique responses

TREND 3

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Copyright © 2019 Accenture. All rights reserved. 12

TREND 4DIGITAL MATURITY IS THE GOAL

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Copyright © 2019 Accenture. All rights reserved. 13

How mature would you rate use of digital technologies overall within your fuel retail business or company?

Mature

Localized

Just getting started

Novice

Don’t know

14%

13%

10%

7%

7%

Aspirational

Semi-mature

40%

28%

FUEL RETAILERS’ ASPIRATIONS FOR DIGITAL ARE HIGH…

TREND 4

Multiple responsesBase = Total sample; n=88

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Copyright © 2019 Accenture. All rights reserved.

Do you plan to invest in digital skill training and reskilling programs for your employees at fuel retail sites over the next 3-5 years?

ROLE AUTOMATION, DIGITAL SKILLS AND PARTNERSHIP DEVELOPMENT ARE IN FOCUS

Unique responses

Do you expect any part of the current roles you have in your fuel retail sites to be more automated over the next 3-5 years?

What is your main incentive for you entering into strategic partnership/s?

Base = Total sample; n=88

25%Don’t know

10%No

65%Yes

14%Don’t know

11%No

75%Yes 49%

Access technology/digital innovation

44%Access to new services

40%Better fuel retail business margins

Multiple responses

TREND 4

14

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TREND 5BETTER FOUNDATIONS ARE NEEDED TO REALIZE DIGITAL VALUE

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Copyright © 2019 Accenture. All rights reserved. 16

Which role in your company is primarily responsible for driving the digital strategy and agenda?

…BUT THEY MAY NOT BE ADEQUATELY PREPARED

Unique responsesBase = Total sample; n=88

How would you plan to carry out these digital technology investments?

…AND MOST KNOW THEY CANNOT “GO IT ALONE”

49%Outsourced

31%Via a large IT service provider

27%In-house

Multiple responsesBase = Total sample; n=88

42%C-suite

(CEO, CIO, CFO)

8%CDO

7%Other C-suite

8%Non C-suite

24%No specific person responsible

10%Don’t know

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FUEL RETAILERS RECOGNIZE THE CHALLENGES AHEAD

TREND 5

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THE ROAD AHEAD

17

Fuel retailers may be at the start of their digital journey—but they know where they are headed and are aware of how to future proof their business...

STEPS FOR FUEL RETAILERS TO BUILD BUSINESS READINESS AND PREPARE FOR GREATER DIGITAL DISRUPTION

1 2 3 4Use data to better understand your customers

Develop, create and leverage a partner ecosystem

Drive digital and innovation holistically across the business

Build or access skills and develop key leadership roles to scale digital and earn consumer trust

Copyright © 2019 Accenture. All rights reserved.

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Copyright © 2019 Accenture. All rights reserved.

FIVE TRENDS ARE DISRUPTING THE FUELS RETAIL LANDSCAPE FASTER THAN EXPECTED

18

DISRUPTION IS ACCELERATING: today’s challenges around margins and competition is being complicated by the rise of EV’s and the changing consumer

DIGITAL MATURITY IS THE GOAL:investments in skills training, automation and partnerships are essential to realize digital aspirations

1COMMITMENT TO DIGITAL INVESTMENTS:investments will nearly double to better serve customers and improve services2ANALYTICS ENHANCES PERFORMANCE:digital brings advantages—analytics drives performance improvements3

4

5BETTER FOUNDATIONS NEEDED TO REALIZE DIGITAL VALUE: fuel retailers use outside help for digital to plug gaps but their business model remains immature

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Copyright © 2019 Accenture. All rights reserved.Copyright © 2019 Accenture. All rights reserved. 19

QUESTIONS?

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Copyright © 2019 Accenture. All rights reserved.

HOW CAN I GET MORE INFORMATION?

20

NEALE JOHNSON Global Head of Artificial Intelligence for Resources, Accenture

BRIAN GRAYManaging Director Fuel Retail, North America, Accenture

VISITAccenture 2019 Digital Fuel Retail Report

to download a copy

FOLLOW US

Follow us on LinkedIn

@AccentureEnergy #digitalenergy

Explore our Energy Blog

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Copyright © 2019 Accenture. All rights reserved.Copyright © 2019 Accenture. All rights reserved. 21

APPENDIX

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ABOUTTHE SURVEY

22

The Accenture Digital Fuel Retail Survey, undertaken by the survey agency McGuire on behalf of Accenture in collaboration with PetrolPlaza. It was conducted online during the spring and summer of 2019.

The survey included 88 professionals (subscribers and readers of PetrolPlaza) working in the fuel retail sector including:

• NOCs and IOCs and independents

• Fuel retail franchise owners

• Independent fuel retail owners

• Grocery store retailers

• Contractors and consultants to the fuel retail industry

Copyright © 2019 Accenture. All rights reserved.

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ABOUT THE SURVEY

23

NUMBER OF RETAIL STATIONS

n=88

PRIMARY GEOGRAPHICAREA OF RESPONSIBILITY

NUMBER OF COUNTRIES COVERED

YEARS OF EXPERIENCE

26 1 - 50

12 51 - 100

14 101 - 500

15 501 - 1000

10 1001 - 5000

2 5001 – 10,000

9 More than 10,000

8 Africa

10 Asia Pacific (excluding Australia)

2 Australia/New Zealand

37 Europe (excluding Russia)

8 Latin America

4 Middle East

11 North America

3 Russia and Central Asia

5 Worldwide

58 < 5

15 5 - 10

3 11 - 30

10 31 - 50

2 More than 50

16 Less than 4

12 4 -8

14 9 - 15

26 16 - 25

20 26+ years

FUEL FORECOURTS LOCATION

TITLE

7 Isolated site with no other retail/service businesses close by

30 Up to five retail/service businesses close by

12 Up to 10 retail/service businesses close by

22 Located on a main high street or within a city center

3 Other

14 Don’t know

26 C-level Executive (e.g. CEO, CFO, COO, CTO, CMO, CRO)

21 Executive

27 Mid-level Management

5 Staff

6 Engineer

3 Other

COMPANY TYPE

16 National oil company

13 International oil company

9 Independent oil company

8 Fuel retail franchise owner

10 Independent fuel retailer (non-franchise)

4 Store Retailer

12 Contractor

14 Consultant

2 Other

Copyright © 2019 Accenture. All rights reserved.