Marketing Strategy of 7-Eleven in Taiwan
In Taiwan, the 7-ELEVEN is one of the most popular convenience stores. Even though there are other convenience stores, these stores all try to compete with 7-ELEVEN which remains the top one in the convenient store market. The first store opened in 1978 and since then has grown more than 4,600 stores. The area of Taiwan is small, 13,900 square miles, but Taiwan has highest density of 7-ELEVEN stores in the world, with stores everywhere, from mountains to ocean-side. There are only 23 million people in Taiwan, but over four million consumers visiting 7-ELEVEN each day.
Location
Location is one of the important factors. Good locations not only can bring many customers but also can bring a higher profit. In general, stores don’t like to set up stores at an intersection, near the traffic signals and a corner. However, the feature of the 7-ELEVEN stores are that they set up their stores in intersections. Intersections are 7-ELEVEN’s favorite locations and are usually located in there. The 7-ELEVEN company thinks it much more obvious and also can catch consumers’ eyes. If a store is set up in ordinary location, it just can attract consumers from one direction. Besides, to expand their territory, 7-ELEVEN also sets up in subway stations, schools, hospitals, and rest areas of highways. Besides, almost every community has one 7-ELEVEN store. Sometimes, it is not an unusual scene for two 7-Eleven shops to stand face to face across an intersection. Therefore, 7-ELEVEN is everywhere; consumers can reach it easily even in Taiwan.
Product
7-ELEVEN is the market creator of 24-hour shopping, bill collection service, ATM, fresh food service, pre-order, and proprietary brands. In addition, 7-ELEVEN utilizes team merchandise and international procurement to launch foreign top sellers, and has developed a range of beverages and foods that contain strictly selected ingredients to strengthen product structure. The 7-ELEVEN stores offer over 3,000 products meeting consumers’
Location
Location is one of the important factors. Good locations not only can bring many customers but also can bring a higher profit. In general, stores don’t like to set up stores at an intersection, near the traffic signals and a corner. However, the feature of the 7-ELEVEN stores are that they set up their stores in intersections. Intersections are 7-ELEVEN’s favorite locations and are usually located in there. The 7-ELEVEN company thinks it much more obvious and also can catch consumers’ eyes. If a store is set up in ordinary location, it just can attract consumers from one direction. Besides, to expand their territory, 7-ELEVEN also sets up in subway stations, schools, hospitals, and rest areas of highways. Besides, almost every community has one 7-ELEVEN store. Sometimes, it is not an unusual scene for two 7-Eleven shops to stand face to face across an intersection. Therefore, 7-ELEVEN is everywhere; consumers can reach it easily even in Taiwan.
Product
7-ELEVEN is the market creator of 24-hour shopping, bill collection service, ATM, fresh food service, pre-order, and proprietary brands. In addition, 7-ELEVEN utilizes team merchandise and international procurement to launch foreign top sellers, and has developed a range of beverages and foods that contain strictly selected ingredients to strengthen product structure. The 7-ELEVEN stores offer over 3,000 products meeting consumers’
References: President Chain Store Corp (2005). 7-Eleven. Retrieved April 27, 2008 from http://www.7-ELEVEN.com.tw/en/ Yang, M. L. Innovation of 7-Eleven in Taiwan. Retrieved April 27, from http://www.books.com.tw/activity/gifticash/inside3-1.htm Chen, H, X. & Huang, Y. T. Marketing strategy of 7-Eleven. Retrieved April 27, 2008 from http://www.shs.edu.tw/works/essay/2005/10/2005102112225350.pdf