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Management article
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Reference no. ICR072B
Published by: International Commerce Institute
Published in: "International Commerce Review", 2007

Abstract

Seven-Eleven (SEJ) is one of the most successful and admired retailers in the world. Recently, it struck out on a path that''s different to most retailers. Instead of differentiating itself by prioritising the development of private label products, it has worked with branded suppliers to create new products that are sold exclusively through Seven-Eleven stores. At the same time, it has taken a broader view of innovation, to include supply chain and go-to-market processes as well as product attributes. By adopting this approach, SEJ has been able to improve customer perceptions of choice and range while actually reducing the number of SKUs it stocks, thereby increasing sales and reducing costs at the same time. By shifting its innovation focus to collaboration with branded goods suppliers, and by persuading suppliers to innovate not only the content of their brands but the context too - how the product is made, distributed and sold - SEJ is pushing the frontiers of innovation.

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Abstract

Seven-Eleven (SEJ) is one of the most successful and admired retailers in the world. Recently, it struck out on a path that''s different to most retailers. Instead of differentiating itself by prioritising the development of private label products, it has worked with branded suppliers to create new products that are sold exclusively through Seven-Eleven stores. At the same time, it has taken a broader view of innovation, to include supply chain and go-to-market processes as well as product attributes. By adopting this approach, SEJ has been able to improve customer perceptions of choice and range while actually reducing the number of SKUs it stocks, thereby increasing sales and reducing costs at the same time. By shifting its innovation focus to collaboration with branded goods suppliers, and by persuading suppliers to innovate not only the content of their brands but the context too - how the product is made, distributed and sold - SEJ is pushing the frontiers of innovation.

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