Retailers Ponder Consumers’ Next Cup of Everything

May 6, 2016

CSP recently held the 8th annual Hot Dispensed Beverages Meeting in Rosemont, Ill. VideoMining Founder & CEO Rajeev Sharma spoke at the event, delivering illuminating insights to members of the c-store industry about the future of the hot-dispensed section of convenience stores.

Here is an excerpt from the article:

More than half of consumers who step foot in the hot-dispensed section of your stores are leaving without buying a thing. And for the 45% who do buy something, it takes them only 34 seconds to fill up and get out, leaving very little time to convince them to upgrade from drip coffee or add a bakery item to their basket.

Insights such as these, from a VideoMining study tracking the behavior of 50 million c-store shoppers nationwide, gave attendees plenty to ponder during CSP’s eighth annual Hot Dispensed Beverages Meeting, held in March in Rosemont, IL.

Addressing dozens of heavily caffeinated c-store beverage, marketing and foodservice directors, Rajeev Sharma spoke about the challenges and opportunities to further engage the beverage consumer.

“Fifty-five percent of customers who visit your coffee bar spend some time throughout the day doing something there and not buying,” said Sharma, founder, chairman and chief analytics officer of State College, Pa.-based VideoMining.

“But these people are already in your store, meaning there’s an opportunity if you understand who they are, what they need and what they want.”

Read the full article here