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Tag: 7-Eleven

  • 7-Eleven Thailand recruits thousands delivery staff

    7-Eleven Thailand recruits thousands delivery staff

    Convenience-store chain 7-Eleven Thailand is recruiting 20,000 workers to make deliveries in the midst of the coronavirus outbreak.

    With many Thai nationals, visitors and residents confining themselves to home in the interests of social distancing, and malls and most shops and entertainment venues closed, 7-Eleven Thailand parent CP All has announced moves to increase delivery services to support those in isolation.

    New staff would be working deliveries from all 7-Eleven locations throughout the country.

    Those eligible for the employment opportunity must be over 18 and ideally have their own vehicles. The firm is accepting online applications for the positions.

    With more than 800 coronavirus cases and climbing, Bangkok has largely shut down its retail sector as department stores, bars, dine-in restaurants and outlets not trading in essential goods have been forced to shut for several weeks.

  • Seven & I drops Speedway US bid

    Seven & I drops Speedway US bid

    7-Eleven operator Seven & I has canceled its plans to purchase the American petrol station chain Speedway.

    The deal was terminated because the expected asking price of around US$22 billion was considered too pricey by the group’s board of directors. The acquisition was hoped to be a vehicle for the group’s expansion in the US with Speedway’s approximately 4000 locations coupled with convenience stores.

    A report in Nikkei suggested factors implicated in the canceled deal could include the risk of significant loss if revenues failed to meet expectations and the potential decline of the industry in general in the age of online shopping

    The American convenience store chain has been wholly owned by Seven & I since 2005. It currently has around 9000 outlets.

  • 7-Eleven Malaysia hits all time sales record

    7-Eleven Malaysia hits all time sales record

    7-Eleven Malaysia set a full-year sales record last year after revenue rose 6.4 percent to $33.76 billion.

    Much of the growth came from network expansion, but same-store sales rose 2.5 percent, despite declining cigarette sales. The company opened 165 new stores last year, 41 of those in the last quarter, taking its network to 2411. Other factors were higher footfall and an increase in the average transaction. Fresh-food sales grew more than 28 percent year on year.

    Profit attributable to shareholders was up 5.4 percent.

    7-Eleven Malaysia CEO Colin Harvey said the company had kept costs in check, reducing them from 29 percent of turnover to 28.4 percent, despite an increase in the minimum wage.

    “We are confident that continuous implementation and improvement of our strategic roadmap in strengthening the key areas of assortment, supply chain, operational excellence, store base and digitally enabling the organization will continue to deliver positive results despite challenging headwinds,” he said.

  • 7-Eleven Singapore teams up with Pay2Home

    7-Eleven Singapore teams up with Pay2Home

    7-Eleven Singapore will collect cash payments for transactions initiated via home-grown financial-services company Pay2Home’s digital platform.

    Pay2Home is one of the growing group of fintech companies creating services for consumers who are unbanked, including hundreds of thousands of migrant workers who send funds back to their families in their home countries.

    Under the Pay2Home and 7-Eleven Singapore partnership, those without a bank account or debit card may now initiate a remittance transaction using the Pay2Home mobile app and pay instantly with a generated QR-code bill using cash at any 7-Eleven store. The funds are available for immediate delivery overseas.

    Pay2Home co-founder David Hulme says migrant workers in Singapore continue to transact primarily in cash.

    “Many are still paid in cash; they buy in cash, and their home countries are cash economies,” he says. “If you’re catering to a market that prefers cash and is more comfortable with cash, then as a FinTech company, our responsibility is to make sure that our digital services meet their needs. It’s about financial inclusion at their pace, not ours.”

    Steven Lye, MD of 7-Eleven Singapore, says partnering with Pay2Home is an example of the convenience-store chain’s efforts to differentiate itself and provide relevant services to the community at large.

    “With 400 7-Eleven stores Island-wide as additional payment touchpoints, Pay2Home’s underbanked customers can conveniently pay for their remittance transactions without having to queue at a conventional remittance counter.”

    Founded in 2001, Pay2Home was the first remittance company to receive regulatory approval to operate online and the first to pioneer purpose-built multilingual self-service Money Transfer Machines. It is the only full omnichannel remittance operator in the country.

  • 7-Eleven Malaysia buys into ride-hailing service

    7-Eleven Malaysia buys into ride-hailing service

    7-Eleven Malaysia Holding has acquired a 46.45-per-cent equity stake in local delivery firm Myinteractivelab (MSB) for US$1.8 million.

    According to a SEM’s spokesperson, the company entered into an agreement to accquire 490,030 shares of MSB with founder Nabil Fiesal Bamadhaj, who is the owner of Dego Rides, which launched on January 1.

    “The subscription represents an opportunity for the SEM Group to acquire a substantial equity stake in MSB, which will be undertaking the e-hailing bike services and to provide convenient delivery services for its 7-Eleven outlets,” SEM said in a stock-exchange filing.

    MSB, which operates Dego App, Dego Partners, and Dego Orders, is currently in the process of securing the licence and approval to run electronic hailing motorcycle-taxi services.

    The government had recently announced it would embark on a proof of concept trial for e-hailing bike services in the Klang Valley for the first six months this year.

    “The government’s initiative in undertaking the program is a positive step and augurs well with the proposed subscription as Dego Ride is the only company in Malaysia, besides Singapore’s GrabBike and Indonesia’s Gojek, which has indicated its interest in the program,” said SEM’s spokesperson.

    With 1500 riders and more than 60,000 users in three months before it was banned by the government in 2017, Dego Ride aims to increase its rider number to more than 4000.

  • 7-Eleven Malaysia’s profit up 10 per cent year on year

    7-Eleven Malaysia’s profit up 10 per cent year on year

    7-Eleven Malaysia’s profit surged 10 percent year on year in the third quarter.

    Figures released by the firm showed sales growth of 4.5 percent during the quarter and a 5.1-percentage point improvement in gross profit margin.

    The firm opened 53 new stores during the period, taking the total network to 2382 stores.

    7-Eleven Malaysia’s profit improvement looks set to continue in quarters. “We are confident that continuous implementation and improvement of our strategic roadmap in strengthening the key areas of assortment, supply chain, operational excellence, store base and digitally enabling the organization will continue to deliver positive results despite challenging headwinds as we look forward to ensuring that 7-Eleven remains as Malaysian consumers preferred convenience store brand,” said CEO Colin Harvey.

    The company’s board said trading conditions for the next quarter are expected to be stable.

    “We will continue to focus on our customer’s needs, pursuing our core strategy pillars of operational excellence, cost management and commercial innovation, at the same time refreshing the 7-Eleven brand in the mind of customers through refreshed stores, innovations in our pricing, promotions, and developing exciting products,” read a statement from the board.

  • Metcash shares hit by lost 7-Eleven deal

    Metcash shares hit by lost 7-Eleven deal

    Metcash shares have dropped more than 10 percent to a four-month low after 7-Eleven chose not to renew its contract with the wholesale food and beverage supplier when it expires in August.

    Metcash on Friday said its annual sales to 7-Eleven total about $800 million a year, mostly in lower-margin tobacco products.

    “Metcash was unable to reach an agreement with 7-Eleven on its supply requirements for the east coast, including delivery routes and scheduling,” the ASX-listed firm said.

    However, Metcash said it was still in talks to continue to supply 7-Eleven stores in WA.

    The blow is just the latest for Metcash, which in 2018 posted an impairment-driven loss of $149.5 million when Drakes Supermarkets declined to extend its SA contract after Metcash had announced plans to open a new purpose-built distribution center.

    At 1306 AEDT, Metcash shares were down 10.5 percent to $2.72.

  • 7-Eleven parent cuts staff an store closings

    7-Eleven parent cuts staff an store closings

    Japanese 7-Eleven parent Seven & I Holdings is preparing to cut 3000 jobs in its 2022 fiscal year.

    The move will be the firm’s largest payroll cut since it opened and reflects increasing competition from e-commerce and shopping malls, as well as chronic shortages in labor.

    The firm is planning a structural reform initiative to rebuild customer support, including the shedding and downsizing of some of its less profitable Sogo, Seibu and Ito-Yokado branded stores.

    “The stores we’re keeping have the ability to attract customers,” Seven & I president Ryuichi Isaka told Nikkei. “We’ll focus our investment there and do more to revitalize them.”

  • All 7-Eleven Philippines stores now sell Bitcoin

    All 7-Eleven Philippines stores now sell Bitcoin

    Bitcoin purchasers can now buy the cryptocurrency in all 7-Eleven Philippines stores.

    The move has been introduced by Cryptocurrency investment app Abra in partnership with ECPay payments firm, making the coin available in more than 6000 locations in the territory. The purpose of the new strategy is to simplify access to Bitcoin investment.

    “Using new digital tools that open up financial access shouldn’t be hard,” said a spokesperson for the firm to Cointelegraph, “and they shouldn’t be complicated. Moving cash to crypto and other digital assets should be simple and fast. That’s why we are really excited to announce our new partnership.”

    Bitcoin purchase is being made available under the “Bills Payment” option at Cliqq ECPay kiosks in stores, or use the mobile app.

  • 7-Eleven Malaysia store sales rise with new stores openings

    7-Eleven Malaysia store sales rise with new stores openings

    7-Eleven Malaysia has boosted sales by 7.2 per cent in the first half of this year, aided by new store openings, increased promotions and a higher average spend per customer.

    The company now has 2323 stores trading and plans further openings in the second half of this year.

    For the six months to June 30, 7-Eleven Malaysia group revenue reached RM1.17 billion (US$277.9 million) Revenue from its food-service business surpassed 3.5 per cent of the group’s total, an increase of more than 30 per cent year on year.

    Gross profit improved by RM33.7 million or 8.5 per cent year on year, despite expenses related to store openings. The adoption of MFRS 16 accounting standards relating to leases reduced post-tax profit by RM4.6 million. Excluding that factor, the group would have achieved a profit after tax of RM30.3 million, which would have been 37.4 per cent ahead of the same period last year.

    CEO Colin Harvey said the company was pleased with its overall results, especially given the impact of MFRS 16.

    “We are confident that continuous implementation and improvement of our strategy roadmap in strengthening the key areas of assortment, supply chain, operational excellence, store base and digitally enabling the organisation will continue to deliver positive results despite challenging headwinds as we look forward to ensuring that 7-Eleven remains Malaysian consumers’ preferred convenience store brand.”

    The 7-Eleven Malaysia board believes trading conditions for the next quarter are expected to remain challenging

  • 7-Eleven Japan Experience first sales decline in a decade

    7-Eleven Japan Experience first sales decline in a decade

    Japanese convenience-store chain 7-Eleven has suffered its first year-on-year downturn in more than nine years.

    The decline in monthly sales throughout the chain has been attributed to heavy rains and the hack of its doomed 7Pay e-payment platform last month, which prompted customers to use rival services.

    Sales chainwide dropped 1.2 percent last month, with a 5.6-per-cent decline in same-store customer traffic. The inclement weather has also affected sales of particular items such as drinks and ice cream.

    7-Eleven’s same-store sales receded 3.4 percent this month, while the number of franchises grew 2.7 percent² to 20,990 stores.

    7-Eleven has discontinued its 7Pay service following a security breach that prompted the firm to stop the app from charging linked cards and put a block on new registrations.

    The firm has also been struggling with its 24-hour service model, with some franchisees growing increasingly uncomfortable with rising labor costs involved with round-the-clock opening hours.

  • 7-Eleven Malaysia sales stable

    7-Eleven Malaysia sales stable

    Sales and profit surge in first quarter on new stores, enhanced service.

    7-Eleven Malaysia has achieved sales growth of 9 per cent in the first quarter – and net-profit growth of 24.9 per cent.

    Same-store sales rose 6.1 per cent, the rest of the growth due to store expansion with the convenience store network now numbering 2311 stores.

    But CEO Colin Harvey says more improvement us yet to come.

    “We see opportunities for improvement and confident that our strategy roadmap of strengthening the key areas of assortment, supply chain, operational excellence, store base and digitally enabling the organisation will bear fruit in terms of financial performance and overall customer experience. We continue to look forward to the challenges ahead in ensuring that 7-Eleven remain as Malaysia’s first choice convenience store.”

    Group revenue for the quarter topped RM583.7 million (US$139 million) due to new stores, a higher average spend per customer and increased consumer promotion activity. Revenue from the food service segment of the business grew more than 30 per cent year on year, and now accounts for 3.5 per cent of the overall business.

    Harvey said the company’s board believes trading conditions for the next quarter will remain challenging.

    “We will continue to focus on our customers’ needs, pursuing our core strategy pillars of operational excellence, cost management and commercial innovation, at the same time refreshing the 7-Eleven brand in the mind of customers though refreshed stores, innovations in our pricing, promotions, and developing exciting products.”

  • 7-Eleven opens Cassier free Checkout in Australia

    7-Eleven opens Cassier free Checkout in Australia

    7-Eleven Australia has removed the physical checkout from the store at its head office in Melbourne. Now, customers there can pay only via mobile app.

    Located in Melbourne’s inner suburb of Richmond, the store provides a more enjoyable and convenient shopping experience, 7-Eleven said, with more space and no queues.

    “Nobody likes to wait, so eliminating queues was part of the mission for this mobile checkout,” Angus McKay, 7-Eleven’s CEO, said in a statement about the new store concept.

    “The store feels more spacious and customers avoid being funneled to a checkout location creating a frictionless in-store experience,” he said.

    Instead of bringing their items to a cashier at the front of the store, customers simply scan the barcode of items they want to purchase with a specially designed app, pay with a card on file and walk out.

    Staff are free to focus on greeting and assisting customers and delivering 7-Eleven’s growing food offer, the retailer said.

    7-Eleven has been working on the cashless and cardless store concept for the past 12 months, thinking through the customer and staff experience and building the app. It recently trialed the concept alongside traditional payment methods in another store on Exhibition Street in Melbourne’s CBD.

    That trial, which concluded on Monday, revealed some areas that needed improvement. For instance, staff wanted better visibility about which customers in the store were shopping via app, and which ones weren’t.

    But Stephen Eyears, 7-Eleven’s head of strategy, innovation and business development, said this shouldn’t be a problem, since 7-Eleven offers a companion app for store staff, so they can see which customers in the store have opened the scan-and-pay app on their phones.

    Customers also have to upload a selfie to use the app, so staff can identify them. This way, staff can be certain that customers have paid before they simply walk out of the store with items in their hands.

    Other checkout-free stores, such as Amazon Go, avoid this scenario altogether by identifying the items customers pick up off the shelf via cameras and sensors and adding it to their digital cart automatically.

    Eyears said 7-Eleven will continue to tweak the concept based on learnings from the Richmond store trial, though there currently is no specific time-frame on the trial or firm plans to expand the concept to other stores.

    “We’re just starting to think about what else we need to learn operationally, and what else we could do to enhance the CX. There could be further tweaks down the track,” Eyears said.

    “It’s not something we want to rush, we want to get it right,” he said.

    If 7-Eleven does roll out the concept to more stores, Eyears expects it would be in addition to traditional payment methods, rather than the only way to pay, as it currently is in the Richmond store.

    Certain cities in the US have now outlawed stores that are completely cash- and card-free, saying they discriminate against consumers who don’t have a smartphone or online account with the retailers that operate them.

    Amazon has confirmed to US media outlets that it will start accepting cash at its checkout-free Amazon Go stores.

    7-Eleven is the latest retailer to trial checkout-free stores since Amazon Go debuted in the US in December 2016, sparking a conversation about the future of convenience retail.

    Woolworths has also trialed a scan-and-pay app in stores in NSW.

  • 7-Eleven Malaysia predicts improved trading conditions

    7-Eleven Malaysia predicts improved trading conditions

    7-Eleven Malaysia CEO Colin Harvey believes the company can do ever better this year after a modest improvement in sales last financial year. The company’s revenue crept up 1.3 per cent last year to RM2.22 billion (US$546 million), with after-tax profit up 2.4 per cent to RM51.3 million ($12.6 million). Harvey says sales growth was driven by new stores and an improvement in same-store sales and consumer-promotion activity.

    “We continue to see opportunity for improvement. We are confident that our strategy roadmap focussed on strengthening the key areas of assortment, supply chain, operational excellence, store base, and digitally enabling the organisation will bear fruit in terms of financial performance, and overall customer shopping experience.”

    7-Eleven Malaysia’s board believes the trading conditions for the next quarter will improve,  driven by domestic demand and anticipated heighted consumer sentiment. The group plans to “continue to refresh the 7-Eleven brand in the mind of the customer” through innovative promotions, products and pricing.

  • 7-Eleven Taiwan to sell freshly-baked Domino’s Pizza

    7-Eleven Taiwan to sell freshly-baked Domino’s Pizza

    Taiwan 7-Eleven operator President Chain Store Corp is trialling a dual-branded store with Domino’s Pizza in Taipei’s Xinyi District. In doing so, the Taiwanese retail company has created the first convenience store in the country to offer fresh-cooked pizza with groceries and if successful, it will pave the way for a roll-out in selected stores.

    With Taiwan’s convenience-store market penetration the second highest in the world, sitting between South Korea and Japan, operators are seeking ways to achieve growth by means other than opening new stores.

    The trial store will allow customers to watch the pizza-making process. Pizzas will be priced from US$2.90 to $6.80, depending on serving size.

    President Chain Store is targeting busy working people in what is one of the capital city’s more upmarket neighbourhoods. The company hopes pizza will boost sales of complementary items such as beverages and other meal items.

    President Chain Store’s rival Taiwan familyMart has already partnered with companies to offer financial, catering and laundry services and health foods in its stores.