Private brands a priority for 7-Eleven
Irving, Texas-based 7-Eleven says it’s growth strategy is focused on its private label and digital initiatives.
The company detailed its strategy at its annual 7-Eleven Experience (7EE) conference, according to Renée M. Covino, Senior Copywriter at Store Brands’ sister publication, Convenience Store News. The multifaceted event, held in Las Vegas, consisted of a trade show, expo, Product Assortment Learning Center (PALC) and model store. The trade show featured more than 146 vendor partners — double the number of booths from last year — and 888 pre-book opportunities for 7-Eleven franchisees. Hundreds of new products also were available for sampling.
According to the article, 7-Eleven customers expect higher quality and value, and the retailer is delivering that with its private brands. The company expects its private brands business to reach more than $1 billion in sales this year as it continues to evolve and unveil new private brand categories and SKUs.
“We’ve grown our private brand assortment from just 87 items in 2008 to more than 1,500 items today through an intense focus on continuous improvement and quality,” said 7-Eleven CEO Joe DePinto.
More private brands are on the way this year. One of the most anticipated ones, due out in May, will be the company’s own brand of cigarettes sold under the label of Teton.
To read the Convenience Store News article, click here.