Technology upgrades, maintenance and service renewals can feel like nothing more than a cost center for convenience retailers. EMV chip readers, enhancing remote work capabilities and pricebook software updates are expenses that have added to this narrative in the past. However, convenience retail strategy and technology leaders have a different perspective heading into 2022.

NACS research shows that 58% of retailers are prioritizing technology projects to improve growth for their business versus only 13% that look to technology to help cut costs. Additionally, convenience retail leadership is much more likely to view current technology spend as integral to the growth of the business. The challenges retailers look to solve through technology across the next two years reveal a focus on areas that are growth oriented.

Nearly half of retailers plan to implement technology in the next two years to allow store staff to spend more time on customer-facing activities. The top challenges retailers are addressing through technology during the next couple of years are intended to attract new and repeat shoppers:

• Making payment fast and easy
• Developing a contactless shopping experience
• Enhancing online/mobile shopping
• Ensuring a fast in-store shopping experience

Retailer technology plans designed for boosting growth are more likely to be customer-centric in nature. Focusing on the shopper will increasingly push retailers to view technology investments as pivotal for growth.