Over the last decade, fuel retailing in many countries across the world has tremendously changed, driven by liberalization of markets, as well as changes in technology that enable high speed fuels price changes on service stations. Decline in fuel demand has also led to intense competition, making all market participants seek new strategies for retaining and growing market share. Fuels pricing processes and strategies have been reinvented to leverage new opportunities and to adapt to the challenges of today.
Over the past year, in areas with high fuel price volatility, single fuel service station price changes tripled over the last year. Today, any given station is likely to change its prices between six and eight timesto adjust to market conditions. Pricing departments, dealing with flat overhead costs, need to find new ways of tracking prices in this volatile market. Having quality real-time information to reassess pricing strategies and to execute operational day to day pricing has never been as important as today for pricing experts that need to meet volume as well as margin targets.
QL2 products and services provide the solution to deliver real-time information from different sources in order to meet the challenges in fuel retailing. Whether it is a full set of competitor prices from the Internet or a mobile app for capturing competitor prices in a field trip, – our solution guarantees the best and most comprehensive set of data is reported and presented in a way that will drive informed decisions for your business. An extensive set of business intelligence reports ensures recognition of the latest changes and trends on the market, as well as, changes within a single service station micro market without having to spend hours on data gathering and reporting. Staying up to date on the market is as easy as ever before.
“In the hyper competitive petrol markets, a single euro can mean the difference between staying true to your marketing promises and leaving money on the table.
QL2′s Data Access for Petrol gets us the competitive intelligence we need to make price changes with confidence and speed.”