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7-Eleven Commences Conversion of Mobil Stores
Increased sales, improved retail store design and atmosphere and happier customers are some of the initial results as the first Mobil retail stores are converted to 7-Eleven.
Eight weeks into 7-Eleven’s acquisition of Mobil’s retail fuels business, the transformation of Mobil stores into 7-Eleven is well underway with six stores already converted and another six aimed for completion by the end of December.
7-Eleven Chief Executive Officer, Warren Wilmot, said, “We’re really proud to see the converted stores performing according to expectations. All converted stores are generating a higher gross profit after converting to the 7-Eleven brand and sales are already better than they were as a Mobil after just the first couple of weeks”.
“Only two weeks after the first store, Clifton Hill (Vic), was converted, the store achieved double digit percentage increase in retail sales compared to average sales for the same period before the conversion. Additionally, we have also seen an increase in customers who visit the store just to purchase merchandise in all converted stores,” Wilmot said.
“The results are a clear indication of 7-Eleven’s strength as a convenience retailer. This is a great outcome for our franchisees, employees and 7-Eleven, and we’re confident that the other stores will deliver similar results upon conversion”.
“We expect to convert most of the Mobil sites into 7-Eleven stores by the end of 2011. Based on the initial results we have seen, we are very excited about the potential for the business once all the conversions are completed,” Wilmot concluded.
The refurbished 7-Eleven stores have created an improved atmosphere, with brighter lighting and a more functional layout. Signature features of 7-Eleven stores such as the “Slurpee zone” and “munch” fresh food range are included in-store and proving exceptionally popular with customers.
Customers are reporting an increase in satisfaction after the conversion, as demonstrated by customer exit surveys. The results highlighted that the new store layout with its brighter lights and more spacious aisles, as well as the friendly service from staff, left customers feeling welcomed and happy when they left the store.
In-store results show that Slurpee recorded the highest sales at each of the converted stores, with the four cup sizes being the top four selling items.
The conversion to 7-Eleven stores and the franchisee model presents both new and existing franchisees with the opportunity to make their first foray into being a business owner or purchase additional 7-Eleven stores to grow their current portfolios.
Tony Singh, existing 7-Eleven franchisee said, “It’s been great that 7-Eleven is offering so many new stores to franchisees.
“Being a franchisee has allowed me to run my own successful business, and after learning about the acquisition, I immediately signaled my interest to operate another store”.
High-res images are available upon request.