Big changes are coming for the popular 7-Eleven convenience store chain. Angus McKay, the company’s chief executive, recently announced that 7-Eleven will take inspiration from its new Japanese owners to transform the business.
In November 2023, Japanese retail giant 7-Eleven International took over 7-Eleven Australia in a $1.71 billion buyout. McKay revealed that the small stores are now planning a Japan-inspired makeover.
“Japanese 7-Eleven stores are the highest standard across our global network,” McKay stated. “The way they present themselves, their store standards, and their seamless operations are something we have a lot to learn from.”
McKay emphasized that 7-Eleven has been working to become more than a retailer of chips and chocolate. With 750 stores across the country, the company faces growing competition from other convenience retailers like Coles Express and OTR.
The new 7-Eleven stores will aim to match their Japanese counterparts by offering more food options, including fresh food, drinks, and daily goods. After the takeover in April, 7-Eleven Australia announced plans to “expand product assortment and introduce new high-quality fresh foods.”
“It’s about continuing to grow our store network in Australia and providing unrivalled customer experiences and quality products,” McKay said.
McKay also hinted that the retailer could roll out a delivery service, further enhancing its offerings.
He acknowledged that price inflation, higher interest rates, and utility bills have impacted consumer spending. “It’s the low real wage growth over a sustained period, higher interest rates, and absolutely the cost of utilities, which we don’t talk enough about, that really hurts the consumer,” he explained.
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