7-11 Retail Bible

Author: Chen Wei
Publisher:
Publish Date: 2005-11-01
Features: Founded in Dallas, Texas, USA in 1927, 7-Eleven initially operated under the name Southern Company, primarily selling ice cream, milk, and eggs. In 1964, it pioneered convenience services by extending its operating hours from 7 a.m. to 11 p.m., giving birth to the legendary name "7-Eleven." In November 1973, Suzuki Toshio secured a regional franchise license for "American 7-Eleven Convenience Chain" in Japan by earning 1% of sales, establishing "Japan 7-Eleven Convenience Chain" and opening up a new retail format of convenience stores in Japan. By 1989, Japan 7-Eleven Convenience Chain not only fully took over its "parent" American 7-Eleven Convenience Chain but also expanded into the global retail market, operating 26,000 "7-Eleven convenience stores" in 19 countries and regions, with an average of 3.1 billion visits annually. Today, its business spans over 20 countries and regions across four continents, with more than 23,000 retail outlets, serving nearly 30 million customers daily, firmly holding the title of the world's largest convenience store chain. Now, the business scope of Japan 7-Eleven has surpassed convenience stores, becoming the leading retail enterprise in Japan, with an annual profit of 160 billion yen and ranking among the few high-yield enterprises in the industry. The retail psychology and economic strategies of 7-Eleven have been honed by the "toughest" consumers in the world—Japanese. Therefore, even as overseas retail giants like Walmart in the U.S. and Carrefour in France have successively entered Japan, they have failed to shake the position of 7-Eleven.