Indian Petro Payment Dream:Petrol Pump Outlet in 2008

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Indian petro chemincal business is on new trajectory of growth. Dis-investment from PSU Petro companies, private players moving ahead, global petro scenario, alternate petro sources coming up like Gas, new boom time in car due to ease of consumer credit (a Macro level marketplace change of banking).

Any of above leads to higher consumption of petro products (gas, oil might be electric city..) Petro companies are trying to go near to customer and sometime in their houses also (TV ads during mega events like Cricket or any sports events by petro and auto companies).

0% surcharge on credit card at petrol pump, petro points what not to lure consumers to fill it.. shut it... forget it.. No you can't forget that, next door petrol pump open till 12 mid night or delicious punjabi dish at dhaba @Gurgaon with Petrol pump. More to see, motel (run by Malyali mostly rather than Patel) with convenience store and cross of MC/Pizza/Barista resturant operating 24 hrs check in. What makes me boast so much about all this. ePaynews.com's survey provides you insight on the same.

According to ePaynews, Eighty-seven per cent of petrol forecourt stores in the UK are now true convenience stores due to selling 8 of 15 common product categories, according to the UK Institute of Grocery Distribution (IGD). Since 2002, the number of forecourt convenience store outlets in the UK grew by 77 per cent as supermarket groups moved into the sector and the oil groups sought new revenue streams, according to Datamonitor. In Europe, Datamonitor also reports that 30 per cent of consumers visiting convenience stores buy food and drinks without purchasing petrol, which suggests that the c-store is more important than petrol.

Petrol service stations generate a fifth or more of all convenience sales in all European markets except in France and Italy and account for 83 per cent of convenience sales in Sweden, according to Datamonitor. Across Europe, food retailers are exploring the combined petrol forecourt and c-store sector, which is at a nascent stage outside the UK. This approach would not work in the Benelux, where most petrol stations are unmanned given the high volume of traffic passing to the rest of Europe. The UK’s forecourt retail market by contrast is Europe’s most advanced, and sales are typically higher than at standard convenience stores.

Between 2003 and 2007 actual sales at UK forecourt stores are predicted by Datamonitor to grow by 4.5 per cent per year, if fuel retailers make strategic investments. With 44 per cent of UK c-store customers in the latest Harris International Marketing (HIM) sector survey citing line times and slow services as a major shortcoming at c-stores, petrol retailers whose c-stores facilitate speedy payments will have an edge. As EMV payment systems are deployed across Europe similarly, the volume of automated and self-service payments will increase both on petrol forecourts and in their associated retail convenience stores.