7-11 Retail Bible: 68 Details for Winning in 7-11 Convenience Store Retail

Author: Chen Wei
Publisher:
Publish Date: 2005-01-01
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 "7-Eleven Japan" (7-Eleven Convenience Store Chain Group) by receiving 1% of the sales revenue, establishing "7-Eleven Japan" and opening up a new retail model of convenience stores in Japan. By 1989, 7-Eleven Japan not only fully took over its "parent" 7-Eleven USA but also expanded into the global retail market, operating 26,000 "7-Eleven" 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 7-Eleven Japan has expanded beyond convenience stores, making it the leading retail company in Japan, with an annual profit of 160 billion yen and ranking among the industry's few high-yield enterprises. The retail psychology and economic strategies of 7-11 were 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 the Japanese market, they have failed to shake the position of 7-11.