{"id":282376,"date":"2011-02-25T21:55:39","date_gmt":"2011-02-25T21:55:39","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/02\/25\/7-eleven-40000-stores-and-counting\/"},"modified":"2011-02-25T21:55:39","modified_gmt":"2011-02-25T21:55:39","slug":"7-eleven-40000-stores-and-counting-2","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/02\/25\/7-eleven-40000-stores-and-counting-2\/","title":{"rendered":"7-Eleven: 40,000 stores and counting"},"content":{"rendered":"

\"7-Eleven<\/a>Click the image to learn about 7-Eleven’s humble beginnings as a country store in Texas selling milk, ice and bread.<\/b><\/span>
\nBy Parija Kavilanz<\/a>, senior writer<\/span>February 25, 2011: 4:53 PM ET<\/span>
<\/p>\n

NEW YORK (CNNMoney) — 7-Eleven is sending a clear message: We’re not just Slurpees and cheap coffee anymore and we’ve taken over the world. <\/p>\n

On Friday, the company became the retailer with the most number of stores worldwide and unveiled an array of new offerings.<\/p>\n

<\/p>\n

The Dallas-based convenience store chain announced its global domination by opening its 40,000 store this week.<\/p>\n

“This is a significant milestone,” said Joe DePinto, CEO of 7-Eleven. <\/p>\n

“We’re opening a new store every three-and-a-half hours,” he said, adding that the retailer isn’t done yet.<\/p>\n

“We’re only in 16 countries,” he said. “We’re not in India or Brazil. So the opportunity to get even bigger is tremendous.”<\/p>\n

The company is credited with introducing Americans to the concept of immediate consumption.<\/p>\n

“80% of what is bought in convenience stores is typically consumed in the first hour after purchase,” said Jeff Lenard, vice president with the National Association of Convenience Stores.<\/p>\n

7-Eleven’s steady stream of customers looking for cheap and quick convenience has made the company more recession resistant than its peers, Lenard said.<\/p>\n

Everyone is trying to sell the “convenience” concept now — even furniture stores. Lenard said 22% of furniture stores in the country now sell food and beverages.<\/p>\n

And despite its much larger competitors, in terms of total sales, such as Wal-Mart (WMT<\/a>, Fortune 500<\/a>) and Target (TGT<\/a>, Fortune 500<\/a>), aggressively trying to encroach on its turf, Lenard said those chains don’t provide the same service.<\/p>\n

That makes 7-Eleven secure on its perch, for now.<\/p>\n

7-Eleven franchises or licenses more than 8,800 stores in the United States and generates about $60 billion annually. That’s not too shabby for a company that in 1927 started as a single store in Oak Cliff, Texas.<\/p>\n

While its size is impressive, it can also be its biggest challenge.<\/p>\n

Size becomes a challenge if things aren’t going well, Lenard said.<\/p>\n

DePinto said he’s aware of those challenges but is focused on the opportunities that lie ahead.<\/p>\n

This year, 7-Eleven is rolling out Etch-it Bud Light bottles that you can write your name on, new Slurpee flavors and a service that allows customers without credit cards or a bank account to shop online and pay their bills in cash.<\/p>\n

The company rolls out hundreds of new products every year. Some, like the Slurpee, were clear hits, others, like the P’Eatzza sandwich which was made infamous on a reality show, didn’t take off.<\/p>\n

DePinto says 7-Eleven strives to be a part of the community.<\/p>\n

“We are proud of the jobs and business opportunities that we bring into a local economy,” he said, adding that between 15,000 to 20,000 new jobs are created in the U.S. each year through its store growth.<\/p>\n

“This store growth is a job-stimulus package in itself,” DePinto said.\u00a0\"To<\/a><\/p>\n


\n<\/div>\n<\/p>\n

<\/p>\n

Visit link:
\n7-Eleven: 40,000 stores and counting<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Click the image to learn about 7-Eleven’s humble beginnings as a country store in Texas selling milk, ice and bread. By Parija Kavilanz , senior writer February 25, 2011: 4:53 PM ET NEW YORK (CNNMoney) — 7-Eleven is sending a clear message: We’re not just Slurpees and cheap coffee anymore and we’ve taken over the world<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-282376","post","type-post","status-publish","format-standard"],"yoast_head":"\n7-Eleven: 40,000 stores and counting - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/02\/25\/7-eleven-40000-stores-and-counting-2\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"7-Eleven: 40,000 stores and counting - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Click the image to learn about 7-Eleven's humble beginnings as a country store in Texas selling milk, ice and bread. 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