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In this episode we speak to Matt Dalton, consumer sector leader at Forvis Mazars. Matt discussed the biggest challenges facing the retail sector, from cost pressures and wage increases to polarised property markets and geopolitical shocks, and the ways in which retailers can best navigate these. We also explore how short-term cost-cutting could undermine long-term resilience, and how retailers can best remain agile and adaptable in unforecastable times.

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BP has strengthened its BPme Rewards loyalty scheme with the launch of loyalty pricing, which gives customers exclusive discounts on retail store products.

The launch is the oil industry company’s first loyalty pricing scheme and sees it go “beyond the conventional model” of a points-based loyalty scheme.

BPme Rewards Price discounts will be automatically applied at the till on selected products, including M&S Food and Wild Bean Cafe, when customers scan their BPme Rewards card or app at around 300 BP-owned retail sites across the UK.

Customers will be able to save on products, while earning points that can be redeemed on fuel or store purchases with selected partners including Amazon and M&S.

Customers will also continue to receive personalised promotions through the BPme app.

Convenience is one of BP’s five strategic transition growth engines that it intends to rapidly grow through this decade as part of its transition from an international oil company to an integrated energy company delivering solutions for customers.

By 2030, BP aims for around half its annual investment to go into the transition growth engines, and to support convenience growth, BP will continue to invest in new consumer-facing digital products that deliver personalised experiences to drive customer loyalty.

Sonya Adams, VP of mobility and convenience retail UK at BP, said: “We’re listening to our customers and evolving our convenience proposition to give them what they want – rewards they really value and money off products in our stores.

“It’s all part of how we are evolving our convenience proposition and providing customers on-the-move with quality food and beverage-led offers at our network of convenient roadside locations across the UK.”

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