April 5 2017
The Australasian Association of Convenience Stores (AACS) has officially launched the 2017 AACS Convenience Innovation Challenge, this year asking students to apply out-of-the-box thinking to respond to some of the obstacles that convenience retailers and suppliers face in changing times.
Select universities and tertiary education providers have been invited to participate in this year’s challenge, with a major prize of $3000 for the submission judged the best.
Now in its fourth year, the 2017 Innovation Challenge promises to be more competitive than ever, says AACS CEO Jeff Rogut.
“Innovation is a term that’s part of the Government’s dialogue in recent times and it is one of the key pillars of our Association. Each year we have more students participating and if previous challenges are anything to go by, we can look forward to some truly fresh and interesting ideas,” Mr Rogut says.
“It also provides students with real examples of how industry works and how ideas may influence future outcomes.
“The need for our industry to maintain a focus on innovation is clear: we need to continue to provide consumers with choice and value, we must demonstrate the career path opportunities to attract and retain the best people to our industry, and we need to respond and adapt to an ever-changing retail environment.
“On a global scale, convenience retailing continues to evolve and change. Against this background, Australian convenience stores are generally performing strongly and we have the opportunity to compete for increased market share in various key product categories.
“The innovation challenge will ideally shine the spotlight on new ideas, strategies and avenues for our industry to take these next steps,” he says.
The 2017 AACS Convenience Innovation Challenge is open to individual undergraduate students and submissions are to be sent to jeff@aacs.org.au by Friday 16 June 2016. The winners as judged by the AACS will be announced at the AACS Annual Gala & Awards dinner in Sydney on August 24.
The challenge
Mr Rogut says this year’s Innovation Challenge is about responding to changing conditions in the convenience industry to lay the platforms for the future.
“Our industry has proven to be responsive, innovative and adaptable to shifting conditions in the economic and retail environments, as well as in changes in consumer behaviour,” Mr Rogut says.
“With increased competition from other retailers like supermarkets and quick service restaurants, emerging lifestyle trends like healthier eating, as well as potential new market entrants, Australian convenience stores and suppliers must continue to rise to meet new challenges.
“These challenges range from staff retention to reliance on select categories which are experiencing negative growth, such as pre-paid cards. We’re asking students to think about some of the obstacles we face so we can build on the many great innovation stories we have to tell,” he says.
This year the AACS is inviting interested, critical thinking students to tackle one of the following questions:
- Intense competition amongst supermarkets has seen aggressive price competition develop. How should convenience stores respond and promote or change their offers to demonstrate that they offer value to their customers?
- Technology in the retail industry continues to evolve. How should convenience stores utilise emerging technologies to grow their businesses and create greater customer loyalty?
- Attracting and retaining staff is a challenge that faces many businesses. What steps should convenience stores take to make their industry and culture seen as a more desirable place for employment?
Prizes
The best submissions as judged by the panel of convenience experts will win the following prizes:
- 1st prize $3,000 + AACS Innovation trophy
- 2nd prize $1,500 + AACS Innovation certificate
- 3rd prize $1,000 + AACS Innovation certificate
Even more valuably, the challenge provides the opportunity for students to interact with and be noticed by major retailers and suppliers as potential future employers. The winners will also be part of a special trade media feature, on the AACS website and in AACS eNewsletters.
For further information, please contact:
Jeff Rogut
Chief Executive Officer
Ph: 0467 873 789
Stephen Naylor
Wise McBaron Communication Australasian Association of Convenience Stores
Ph: (02) 9279 4770
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