Convenience Store Brands Like 7-Eleven Need Unique Marketing to Thrive
7-Eleven launched their fourth year of “Brands with Heart” partnering with local and smaller companies to stock the 7-Eleven shelves with unique brands that will continue to draw consumers into their convenience store. “Brands with Heart” give not only 7-Elevens a way to stand out against other convenience stores, but it also draws attention to some great small businesses that otherwise would not get this type of exposure.
As the world changes and more convenience store chains pop up as well as fast food, every brand of food and even convenience store needs something that sets them apart from the rest to draw in business. Why as a consumer would you choose a 7-Eleven over a Shell when they are right next to one another?
Sabine Benoit, Professor of Marketing at the University of Surrey, discusses her 4 reasons as to why the 7-Eleven local brand partnerships is a good idea.
“Hi there. My name is Sabine Benoit. I’m professor of marketing at the University of Surrey, specializing on convenience retailing. 7-Eleven partnering with local brands is, in my view, a good idea for four reasons. One is that the customer and the market push for sustainability and consumers understand that global brands very often travel a long way to be on the shelf.
Number two is the push for differentiation. 7-Eleven always used to be differentiated. Convenience and through being near to the consumer and in good locations, now many other retailers and many other players are moving into that space of food to go on the go consumption. And therefore, I think the differentiation has to have a different facet for seven-eleven and local brands is one possibility.
So, these are the two market-oriented reasons. The two internal reasons are negotiation power, of course, collaborating. Local brands on gives the seven 11 a better negotiation position and negotiations get tougher when economy and when prices rise for raw materials. And the other thing is that pricing can be much more variable.
So, in times of rising raw materials and squash on profitability, local brands give the retailer a little bit more leeway when it comes to pricing and adjusting profitability that were my reasons for why I think that’s a good idea.”
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