Convenience Store News - December 2017 - 44

cover story

on quality of product and packaging to cut costs.
"We decided that manufacturers weren't hearing what
we were saying and we would have to go it alone,"
DePinto recalled. "With 7Select, we strive for high
quality at a fair value. It's resonated with consumers,
and we will continue to build this business. We offer a
lot of differentiated items across all categories. We're
adding 280 new SKUs this year alone. Millennials love
private label."
THE CONVENIENCE EXPERIENCE OF THE FUTURE

Industry leaders also praise DePinto for his embrace
of cutting-edge technology and services that are redefining convenience. The list includes: drone delivery,
partnerships with third-party delivery companies like
Postmates and Tapingo, click-and-collect, Amazon
Lockers, UPS Lockers, KeyMe self-service locksmith
kiosks, Amazon Cash and PayPal Cash. There's also
the 7-Eleven mobile app and 7Rewards loyalty program, which has 9 million members.
Still, DePinto tells CSNews, "We've only scratched
the surface."

"We seek to understand the
customer and where
they're going, understand
consumer trends, and
then change our products
and infrastructure to
deliver on that."
"In our delivery business and click-and-collect tests,
we see the transaction size is actually larger than the
in-store transaction. Our delivery ticket is three times
our in-store ticket," he said.
7-Eleven is ramping up its digital team to be able to
innovate faster. The retailer recently hired a new chief
digital officer, Gurmeet Singh, who previously led digital transformations at Capital One; FedEx; and Intuit,
the maker of TurboTax and QuickBooks.
"Joe is a visionary and that helps us as a company
chart the path for the future while preserving our
existing strengths," said Singh, who joined 7-Eleven in
September 2016.
He was drawn to 7-Eleven because with 5,400

44 Convenience Store News | DECEMBER 2017 | WWW.CSNEWS.COM

In his acceptance speech, DePinto thanked his parents for teaching
him the importance of integrity, working hard and always doing the
right thing.

stores in the U.S. and 64,000 stores globally, there's
an existing physical strength that can be combined
with the power of digital. Furthermore, more than 50
percent of the U.S. population is within a mile of a
7-Eleven store
"7-Eleven is already a leader in convenience and
has a long history of innovation. My thinking is: How
can the digital team at 7-Eleven redefine convenience?"
Singh said. "Part of it is that we want to develop the
'experiences of the future.' These experiences will
be inside the store, but they will be outside the store
as well. We want to bring the store to the consumer
wherever and whenever they need us."
DePinto rejects the idea that brick-and-mortar retail
is dying. Rather, he says the golden ticket lies in uniting brick-and-mortar with digital. He envisions one
convenience experience of the future being: The customer comes into a 7-Eleven store with their phone,
picks up three or four items, scans the barcodes, hits
pay and walks out.
However, 7-Eleven is not seeking to be a "disruptor."
"No, we do not seek disruption for disruption's
sake. We seek to understand the customer and where
they're going, understand consumer trends, and then
change our products and infrastructure to deliver on
that," DePinto explained.
These days, he sees six consumer trends of importance to 7-Eleven's evolution:
1. Consumers are connected 24/7;
2. They're on the go;
3. They're time starved;
4. They're eating differently;
5. They're more diverse; and
6. They're more urbanized.
"So now, it's a question of how to deliver on these
trends and link the digital to our physical locations,"
the newest Hall of Famer said. "Convenience has been
the last along this path. It's coming in a big way."


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Table of Contents for the Digital Edition of Convenience Store News - December 2017

Contents
Convenience Store News - December 2017 - Cover1
Convenience Store News - December 2017 - Cover2
Convenience Store News - December 2017 - 3
Convenience Store News - December 2017 - 4
Convenience Store News - December 2017 - 5
Convenience Store News - December 2017 - Contents
Convenience Store News - December 2017 - 7
Convenience Store News - December 2017 - 8
Convenience Store News - December 2017 - 9
Convenience Store News - December 2017 - 10
Convenience Store News - December 2017 - 11
Convenience Store News - December 2017 - 12
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Convenience Store News - December 2017 - Cover3
Convenience Store News - December 2017 - Cover4
Convenience Store News - December 2017 - U1
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