7-Eleven Aims to Exceed $1B in Private Label Sales This Year
IRVING, Texas — 7-Eleven Inc. is setting the ambitious goal of $1 billion in private brand sales in 2020.
Contributing to that goal is its newest private brand, 24/7 Life, which includes a line of electronic accessories benchmarked for quality against top national brands, according to Convenience Store News sister publication Store Brands.
24/7 Life will also include all of 7-Eleven's nonfood private label products, marking a clear delineation between those products and its packaged foods, which will remain under the 7-Select brand.
Together, the private brands are expected to make a significant contribution to overall sales growth, according to Jack Stout, senior vice president of merchandising and demand chain.
"This year, 7-Eleven expects to exceed $1 billion in private brand sales," he said.
The retailer launched 7-Select with 87 items, primarily food and beverage products, in 2008. It later added health and beauty products as well as other items. Today, 7-Eleven offers approximately 1,500 private brand items, the quantity of which prompted it to develop two primary private brands.
"As our assortment grew to nearly 1,500 products, we recognized an opportunity to separate 7-Eleven private brand products into two categories and bring nonfood items under one label," Stout said. "7-Select continues to serve as our innovative and trusted line of food and beverage products, while 24/7 Life is an expansive assortment of nonfood products that fit the needs of our customers varying lifestyles.
The name 24/7 Life reflects 7-Eleven's heritage as a round-the-clock retailer. The line includes items that are there 24/7 when consumers need them, even at the least expected times, the company said.
"We provide customers with what they want, when they want it — 24/7, for life's needs, whether that's wireless earbuds on the way to the airport, medicine for a sick child, sunscreen at the beach or detergent for laundry," said Tim Cogil, formerly 7-Eleven's senior director for private brands, in a release when the items launched.
Certain 24/7 items are available via the 7NOW delivery mobile app. Currently, the line comprises more than 200 products, including:
Paper goods and office supplies;
Beauty products and health-and-wellness offerings;
Travel-size toiletries and more.
Electronic items are sold in four categories — audio, cable, charge and accessories — each of which has specific, color-coded packaging. Items include wireless charging pads, speakers, wireless speakers, earbuds, power banks, chargers and cables, phone mounts, adapters, tech organizer bags and screen-cleaning kits. 7-Eleven particularly expects to market the electronics items in stores near hotels, airports and stadiums.
Some older nonfood 7-Select products can still be found on shelves as they are phased out.
"Our dedicated 7-Eleven private brands team is constantly in the marketplace and attending tradeshows to find trustworthy vendor partners who share the same quality standards as we do," Stout said. "Not only do we seek out partners that create products we know our customers will love, we also put time and resources into building lasting relationships with them."
To ensure compatibility with leading electronic brands, all lightning cables, chargers and adapters were certified by a third-party firm. 7-Eleven also contracted with global trend forecasters about consumer trends and emerging products to stay out in front of rapidly changing technology trends, according to Cogil.
Moving forward, 7-Eleven plans to keep innovating in both food and nonfood private brand items.
"With 7-Select as our primary packaged food brand, we continue to build equity in that category as we introduce innovative offerings," he said. "Similarly, the assortment of products under the 24/7 Life brand will constantly be evolved and diversified to appeal to the nonfoods needs of customers."
Irving, Texas-based 7‑Eleven operates, franchises and/or licenses more than 70,000 stores in 17 countries, including 11,800 in North America.
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