CHICAGO - "This year will either be a break out or breakdown year for a lot of companies," began Bump Williams, CEO of the Bump Williams Consulting Co. in the "Successfully Competing in Today??s Economy" session this week at the NACS State of the Industry Summit. And for the next hour Bump, and fellow presenter Greg Parker, president of the Parker Companies, presented ideas to ensure that attendees would all experience the former.

Williams looked at the big picture in sharing what customers expect ?" and don??t expect from convenience stores. Above all, convenience store customers expect single-serve items. And you better have what customers expect. He called out-of-stocks a $3 trillion annual problem across all retail and said that if customers experience three out-of-stocks at a store, they will never come back.

Almost as important to customers are cold beverages, said Williams. "People identify convenience stores with cold drinks," he said. Parker echoed that sentiment, discussing how his stores always having 28-degree beer in his beer caves. Except, he joked, it did confuse one customer who after hearing about 28-degree beer was skeptical, noting, "You can??t get colder than ice."

Speaking of beer, Williams said that convenience stores can??t be all things to all people, which particularly holds true for beer. With the slew of new microbrews hitting the market every year, retailers need to be very careful in considering what new products they add.

Parker said that single single-serve beers are a great choice for two reasons: one being customer demand and second, single serve is now the second-most popular size after six packs. Also, the category offers more profit. Parker said that the profit in selling only two 24-ounce beers is the same as in selling a 30-pack.

Parker also shared a number of ideas that his stores are successfully executing:

• Using outdoor advertising: Billboards, bus wraps and other promotions are great for telling your customers your offer, especially in more metropolitan areas.
• Co-locate energy drinks and water: "Parker??s has energy drinks and bottled water in the same cooler door. If you do this, you will grow both categories."
• Using technology to upsell: Parker??s is using two new programs to great success. LIFT gives clerks the tools to effectively upsell customers, and a program with People Matters allows customers to provide immediate feedback on their customer experience. The combination is powerful: It allows Parkers to know who is good at upselling and delivering a great customer experience. "Now we know who to schedule for critical shifts," said Parker.

Williams stressed to attendees that stores also can??t be all things to all people and strongly suggested that they avoid trying to be price leaders. "They [customers] expect you to have higher prices. Be who you are. Focus on what you do well."