Real Cost of Tank Runouts for Convenience Stores

This whitepaper details the financial implications of tank runouts for convenience stores. It outlines how tank shutdowns not only result in lost fuel sales but also impact inside sales and customer retention. The document presents calculations indicating that a tank runout can lead to a loss of $1,228 in profit, combining both fuel and inside sales losses. It emphasizes that during a tank runout, customers may choose not to return, with studies suggesting that 91% of consumers will not engage with a store after a negative experience. The whitepaper further discusses the competitive landscape of convenience stores, highlighting the need for effective management of fuel inventory to mitigate losses. It also mentions the role of technology, specifically Titan Cloud, in reducing the frequency and duration of tank shutdowns, thereby improving revenue and customer satisfaction. The findings aim to inform convenience store operators about the critical nature of managing fuel supply effectively.