7-Eleven is on the move! The popular convenience store chain is gearing up to expand significantly across North America, launching 600 new large-format, food-focused stores.
This initiative marks a bold step in their Evolution as a retailer, aiming to enhance the shopping experience for customers by offering a more comprehensive range of food and beverage options.
What is the “New Standard”?
The “New Standard” is 7-Eleven’s latest venture, building upon the insights gained from its previous format, “Evolution.”
Launched in March 2019, the Evolution stores featured an expanded array of offerings, including 7-Eleven’s famous Laredo Taco Company, made-to-order specialty beverages, self-serve coffee stations, cold treats bars, and mobile checkout options. The goal was to transform the traditional convenience store into a vibrant food destination.
With the New Standard, 7-Eleven is taking things up a notch. The new stores will retain many of the elements from Evolution and introduce even more extensive food and beverage selections.
Customers can look forward to in-store seating areas for a comfortable dining experience and the convenience of electric vehicle charging stations, catering to the growing number of eco-conscious shoppers.
Why the Focus on Food?
In today’s fast-paced world, convenience is critical, and consumers are looking for quick, quality meal options without sacrificing taste.
The food industry has shifted, and 7-Eleven recognizes that convenience stores can play a pivotal role in providing meals on the go. By enhancing their food offerings, they aim to attract a broader customer base and compete with other food retailers.
The First New Standard Store
The first location under the New Standard banner opened in September in Allen, Texas, just outside Dallas. This store serves as a prototype for the upcoming locations, showcasing the enhanced food and beverage options and modernized shopping experience that 7-Eleven aims to provide.
The initial response has been overwhelmingly positive, with the new store generating an impressive 11% return on investment.
It has outperformed its Evolution predecessors by a remarkable 30%. This success indicates that customers are eager for more diverse food offerings in a convenient setting.
Future Expansion Plans
7-Eleven has ambitious plans for the New Standard format, with 115 locations expected to launch by the end of 2024. This expansion reflects the company’s commitment to meeting consumers’ changing demands and adapting to current market trends.
By investing in larger, food-focused stores, 7-Eleven is positioning itself as a critical player in the convenience and food retail sectors.
What to Expect at New Standard Locations
As more New Standard stores open, here’s a sneak peek at what customers can anticipate:
- Expanded Food Options: From freshly prepared meals to healthier snacks, the New Standard stores will offer various food items that cater to different tastes and dietary preferences.
- In-Store Seating: Customers can now enjoy their food in a comfortable setting, encouraging them to dine in and take a break from their busy day.
- Electric Vehicle Charging Stations: With the rise in electric vehicle use, these stations will provide a convenient solution for eco-conscious customers looking to charge their cars while they shop.
- Mobile Checkout and Delivery: Building on the technology utilized in Evolution, the New Standard will enhance customer convenience through mobile checkout options and delivery capabilities.
- Specialty Beverages: Customers can look forward to a broader selection of beverages, including crafted coffee drinks and other refreshing options.
Conclusion
7-Eleven’s move toward larger, food-focused stores is a significant step in transforming the convenience store experience. By introducing the New Standard, they are responding to changing consumer preferences and establishing themselves as a go-to destination for quality meals on the go.
With plans to roll out more locations, 7-Eleven is poised to impact the convenience retail landscape, ensuring that customers have access to a diverse range of delicious options wherever they are. Keep an eye out for these exciting new stores, which are set to reshape how we think about convenience shopping.
FAQs
The New Standard format is 7-Eleven’s latest initiative to expand its food-focused offerings in larger convenience stores. It aims to enhance the shopping experience with extensive food and beverage options, in-store seating, and electric vehicle charging stations.
The first New Standard store opened in September in Allen, Texas, just outside Dallas. It serves as a prototype for future locations.
By the end of 2024, 7-Eleven plans to open 115 New Standard stores across North America.
While the New Standard retains many elements from the Evolution format, it expands the food and beverage selection, introduces in-store seating, and includes electric vehicle charging stations for a more modern shopping experience.
The initial New Standard store has achieved an 11% return on investment and has outperformed Evolution stores by 30%, indicating strong customer interest and demand for the enhanced offerings.