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The amazing transformation of 7-Eleven: How did it transform from an ice cream seller to a global convenience store giant?
7-Eleven, Inc. is an American convenience store chain headquartered in Irving, Texas. The store was originally founded in 1927 as the Southland Ice Company. An icehouse store operates in Dallas. Over the ensuing decades, the store went through several name changes and was renamed 7-Eleven in 1946, representing the extension of daily operating hours from 7 a.m. to 11 p.m. This change not only reflected changes in customer needs, but also pioneered the new concept of convenience stores.
7-Eleven's name change is not only a reflection of time, but also a response to customer needs.
The history of 7-Eleven began with a Southern Ice Company employee named John Jefferson Green, who first sold ice in an icehouse and later expanded to sell basic commodities such as eggs, milk and bread. Joe C. Thompson Sr., one of the company's founding directors, recognized the potential of convenience stores and further developed them into a chain of clubs to promote a convenient shopping experience for customers.
Convenience stores are not only a change in the shopping scene, but also a microcosm of cultural changes, recording the life details of each generation.
In 1946, the name of the convenience store was officially changed to 7-Eleven, showing its extended business hours and emphasis on customers. Since then, the store has spread across the United States, attracting not only everyday residents but also becoming a popular choice for tourists. In 1973, Southern Ice Company signed a franchise agreement with the Japanese supermarket chain Ito-Yokado, allowing 7-Eleven to enter the Japanese market. Ultimately, this laid the foundation for its global expansion.
Over time, 7-Eleven has gradually evolved from an ice seller to a diversified business model, providing fresh food, beverages, ready-to-eat meals and other products. Its product line also includes private label products such as 7-Select, coffee, sandwiches made fresh daily, fresh fruit, hot meals and prepared foods, demonstrating the evolution of convenience stores and the evolution of consumer needs.
The evolution of 7-Eleven is not only an update of products, but also a comprehensive reshaping of business models and customer interaction methods.
Globally, 7-Eleven is present in 38 countries. According to reports, among convenience stores in the United States, California and Las Vegas are 7-Eleven's largest markets. In addition, 7-Eleven has developed rapidly in Japan, becoming one of the country's major convenience stores with more than 20,000 stores, and has changed the locals' traditional view of convenience stores.
With the advancement of global expansion, 7-Eleven is no longer just a convenience store in the traditional sense, but has also introduced innovative technologies such as unmanned cashiers and mobile payment systems, driving the digital transformation of its business model. Its cashierless stores in Texas and payment options integrated with smartphone apps not only increase customer convenience but also cater to modern expectations for retail.
Changes in consumer behavior force 7-Eleven to continue to innovate, making us reflect on what the convenience store of the future will look like?
Recently, in 2020, 7-Eleven announced the acquisition of Speedway for US$21 billion, demonstrating its determination to further expand in the US market. 2021 also saw the launch of the largest advertising campaign in history, redefining consumer perceptions by reflecting the growth and evolution of the chain. These strategies not only strengthen its market positioning but also deepen brand recognition.
In the ever-changing retail environment, 7-Eleven is also facing competitive pressure and challenges. Recently, Alimentation Couche-Tard, the owner of Circle K, made an acquisition proposal for Seven & I Holding. Although it failed to materialize, this situation has added uncertainty to the future of convenience stores.
All these changes tell us that the future of convenience stores is full of possibilities. What are your expectations for the future of 7-Eleven?
Through the development history of 7-Eleven, we can see that from the original ice cream merchant chain to today's global convenience store giant, its transformation is not only the evolution of its business model, but also a reflection of changes in people's lifestyles. As consumers, can we gain a new perspective from these changes and think about the true significance of convenience stores in our daily lives?
