7-Eleven Malaysia moves upmarket
Jun 29, 2015
Listed retailer 7-Eleven Malaysia says it will open 200 new stores around the country this year – and refurbish 200 more. A third of those will be in the Klang Valley, the heart of greater Kuala Lumpur.
The expansion and rejuvenation, estimated to cost up to RM90 million (US$24 million) is part of a move upmarket as it seeks to differentiate the company from rival convenience store formats.
CEO Gary Brown says the company wants to create a more inviting, warm environment in-store to attract more customers.
Newer stores opened in Malaysia feature coffee, meals to prepare onsite, tables and chairs, colourful fitouts and a more spacious environment.
“We have also included more fresh foods, use light-emitting diode lighting at our stores which are energy-saving as well as organise on-going strategic promotions,” he told a press conference after the company’s annual meeting this week.
7-Eleven Malaysia has about 80 per cent of the Malaysian convenience store market, but is facing increasing competition from new local brands.
Its extensive store network positions itself as a potential delivery service point for online retailers and courier businesses. Brown says talks are underway to establish such ventures as another source of income for the business – and as a drawcard for customers who might buy products when collecting or making deliveries.
“Once concluded, the pilot project is expected to operate by the fourth quarter of this year at selected stores,” he said, without disclosing further details.
Related News: Local Focus