By: N Jayalakshmi
Last updated : December 16, 2024 12:57 pm
The pervasive presence of convenience retail chain 7-Eleven in Thailand points to the success of a retail concept that’s focused and efficient, catering to the needs of travelers and locals alike.
If there’s one ubiquitous presence in Thailand, besides the small local shrines, the food stalls and wide clean roads, then it’s 7-Eleven, considered the world's largest convenience store chain with 85,000 locations in 20 countries and territories.
It’s possible to find up to three 7-Eleven outlets within a radius of half a kilometer in Thailand. Compact, convenient and functional, 7-Eleven seems to be a successful concept that caters to the needs of both travelers and locals alike, especially in places where general trade is not really a pervasive presence, like it is in India. Of course, in countries like Thailand where English is not commonly spoken or understood and food packaging labels are majorly in Thai, tourists would need the help of Google Translate to read product information.
But beyond being a convenient retail hub for essentials, 7-Eleven is also popular among tourists for the variety of local food choices that it offers. Reportedly, visiting 7-Eleven is one of the most interesting activities for tourists visiting Thailand, due to the array of foods it offers.
A BBC report in fact talks about the iconic British singer Ed Sheeran increasing the popularity of 7-Eleven after a video of him trying out snacks at one of the 7-11 outlets in Thailand went viral on social media.
“We have more stores than McDonald's or Starbucks,” Ryuichi Isaka, CEO of Seven & I Holding is reported to have told BBC News. Not surprisingly, 7-Eleven has made it to the list of ‘10 Retailers to Watch in the Coming Year’ put out by the publication ‘Store Brands’, a sister publication to ‘Convenience Store News’.
The retail company has been in the news recently for a takeover bid by Canadian retail giant Alimentation Couche-Tard, based in Quebec City. Reportedly, there has been a bid to acquire Seven & I Holding, the parent company of Seven Eleven.
Meanwhile, the history of 7-Eleven points in two directions - US and Japan. 7-Eleven began operations in 1927 by selling ice cubes for refrigerated storage. Later, it added other things to its portfolio including eggs, milk, and bread. Quite obviously, the store got its name from its timings - 7:00 a.m. and 11:00 p.m.
In 1974, Japanese retail company called Ito-Yokado reportedly entered the picture, making an agreement to open 7-Eleven outside US, and Japan got its first 7-11. In 1991 Ito-Yokado bought a 70% stake in the parent company Seven Eleven. In fact, the founder of Ito-Yokado, Masatoshi Ito, who died at the age of 98 in 2023 is considered the driving factor behind turning 7-Eleven into a global brand.
Now, it remains to be seen whether 7-Eleven will remain under Japanese ownership or North American. Meanwhile, there’s no stopping the growing popularity of the chain itself. A recent report also talks about it having adopted technology to enhance customer experience with a mobile app integrating multiple features.
In India, Reliance Retail launched the first 7-Eleven store in Andheri, Mumbai in 2021 and since then has expanded it to almost 50 outlets in the country. Reportedly, out of the total 55 7-Eleven stores Reliance Retail operates in India, 49 are in Mumbai and 6 in Pune in Maharashtra.
With General Trade being a significant presence on the retail landscape, one would think concepts like 7-Eleven might be tough nut to crack in the country. But the growing presence of 7-Eleven in the country has proven otherwise. Also, given the growing traction of Quick Commerce and the number of reports pointing to its impact on General Trade, retail concepts that offer a unique model with a high functionality quotient and serving specific needs could possibly be one of the ways forward. An added touch of cultural novelty, in terms of the cuisine or aesthetics offered could possibly make it even better, making it a traveler or tourist destination as well. Perhaps this could also offer newer opportunities in the eco-system in terms of the store solutions and design and experience – efficient, focused and memorable.