Fresh food has fueled recent success for 7 Eleven in North American. With a new focus on fresh prepared food and renewed focus on food 7 Eleven has been expanding dramatically abandoning legacy formats that required each new unit to sell gasoline in the United States. Today 50% plus new units do not sell gas as regular readers of this blog know.
Toshifumi Suzuki Seven & I Holdings Chairman stated that in North America 7 Eleven “could increase our store numbers to 20,000 or even 30,000 units”. Today North America has but 8,000 units no other froes food retailer has committed to that dramatic increase in new units. Competitive threat you bet!
7 Eleven is the world’s largest convenience store operator by number of stores with over 50,254. In the United States, 7 Eleven has been buying small chains converting them to branded, 7 Eleven units to edify the brand and position itself to become more competitive.
Why are they a company to worry about from a competitive standpoint if you are in the fresh food business let’s look at some numbers. 7-Eleven Inc. the retailer’s U. S. conveniences forecast sales of “17.9 Billion for the year ending December, an increase of 44% from last year.” They expect income will increase 23% and those my friends are big numbers. How is your company doing? In the retail food space you either grow market share or capitulating market share? We are in an Omni-channel retail food world are you?
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