Saturday, July 18, 2015

The expansion of 7-eleven

Southland founded in 1927, claims to have been the world’s first convenience-store chain.  It began as the Southland Ice Company, formed from a merger of four Dallas firms controlling 8 ice factories and 21 retail ice docks.

By 1945 Southland owned stores scattered over north-central Texas, operating from 7 in the morning to 11 at night, seven days a week. In 1946 the firm Tracey-Locke, commissioned to create a new name, chose '7-Eleven' to emphasize the firm's commitment to long operating hours to serve customers better.

The name developed by a Dallas advertising agency, referred to the stores’ operating hours: 7 a.m. to 11 p.m. By 1950, 80 7-Eleven stores were operating g in the Dallas-Fort Worth area and annual store revenues has increase to about $10 million.

At the end of the 1950s, John Thompson began to introduce 7-Eleven stores outside of Texas, in Virginia, Maryland, and eastern Pennsylvania. In reaction to mass migration to the suburbs, Southland opened more suburban stores.

Beginning in 1964, 7-Eleven began selling coffee to go. Two year skater 7-Elevens began selling Slurpees. In 1980, 7-Eleven began selling the 32-ounce Bog Gulp. Eight years later 7-Elevens introduced the giant 64-ounce Double Gulp.

Through a new computer inventory system, 7-Eleven was able to pinpoint its strengths and discover that single purchase items were its best sellers. In 1999, company changes its name to 7-Eleven, Inc.

The implementation of 7-Elevens international expansion strategy carried 7-Eleven to other parts of the world, such as Canada, Japan, Korea, Thailand, the Philippines and Taiwan.

In 1973, Ito-Yokado Co., Ltd had a tie-up with Southland Inc, which was to introduce the American concept of 7-Eleven stores to Japan. In 1980’s Southland USA faced a major financial crisis. In March 1991, 7-Eleven paid $430 million to acquire a 79 percent share of the Southland Corporation and gained full control over Southland Inc.
The expansion of 7-eleven

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