Retailers know that the most valuable commodity they deal with every day is that of customer loyalty. Indeed, various studies predict that an increase in loyal customers by just 5 percent can translate to an increase in profits by anywhere from 5 percent to 95 percent.

Obviously, customer loyalty has a huge impact on the bottom line. It encourages customers to return to a convenience store more often. When they do, they are also likely to spend more money in order to take advantage of promotions and discounts.

Leading convenience stores are cashing in on that behavior, and using data analytics to better understand customer behavior and wants. Acting on those insights, these c-stores are building stronger relationships with customers and gaining competitive advantage. It’s an important strategy, when you consider that the cost to acquire a new customer is anywhere from 5-times to 25-times more than it is to service an existing one, industry studies say.