Here’s what the experience looks like. I’ve got the mobile app downloaded on my phone. I pull into the station; my car is immediately recognized through license place recognition. I get a welcome and some targeted deals aligned to my preferences and purchasing history. I pay via the app, and that’s it. No queuing at the pumps, and no queuing in the retail store. It’s a seamless experience, like Amazon Go.
I think the biggest difference in all of this is the amount of control that the consumer has over the experience. And I think the biggest surprise is that all of the enabling technology is mature today and being used now in other industries, especially retail. These concepts are not futuristic, horizon concepts like parking a car on a car pad that rotates it through servicing. Without massive R&D investment, industry players can deliver more value and make a business going through immense change more profitable—even at this later phase of maturity. And what makes this investment compelling is that it will increase the attractivity of the retail network. Whether oil companies are planning to harvest or to divest, they are better off with an attractive retail business.