7-Eleven is sending a clear message: We’re not just Slurpees and cheap coffee anymore and we’ve taken over the world. Recently, the company became the retailer with the most number of stores worldwide and unveiled an array of new offerings. The Dallas-based convenience store chain announced its global domination by opening its 40,000 store this week.
“This is a significant milestone,” said Joe DePinto, CEO of 7-Eleven. (www.CNN.com)
“We’re opening a new store every three-and-a-half hours,” he said, adding that the retailer isn’t done yet. (www.CNN.com)
“We’re only in 16 countries,” he said. “We’re not in India or Brazil. So the opportunity to get even bigger is tremendous.” (www.CNN.com)
The company is credited with introducing Americans to the concept of immediate consumption.(www.CNN.com)
Despite the fact that U.S economy is on downhill, 7-eleven is tremendously developing, improving, and expanding. Just like Apple, they seeem to be less concerned about the economy because of their growth. What is it that 7-eleven is differently positioning on consumers’ minds? They just seem to be where we could grab our snacks, slurpees, and coffees but actually they are more than the reputation usual consumers hold about 7-eleven.
As the store base grows, they now will be able to advance business processes that increase efficiency and simplify store operations, consolidate their purchasing power to reduce the cost of goods. According to the article, their expansion and improvements will also enhance the distribution systems so that they can efficiently and continually have the products their customers want.
According to the Vice President of 7-Eleve, Jeff Lenard,
“80% of what is bought in convenience stores is typically consumed in the first hour after purchase.”
7-Eleven’s steady stream of customers looking for cheap and quick convenience has made the company more recession resistant than its peers and resulting as outcompeting the other convenience stores.