Cigarette sales are down 26% since 2019 — an 80-year low — according to the company, as customers seek alternative nicotine products such as Zyn.
Meanwhile, 7-Eleven said it plans to expand its fresh food and specialty beverage options, as people facing rising inflation seek affordable meal options.
“Affordable, high quality foods are becoming more important,” Joe DePinto, the CEO and president of 7-Eleven, said in the earnings call.
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Since when has 7-11 been the cheapest place to buy anything? “Convenience” stores have a reputation for making customer pay, a lot, for the “convenience” of buying some nappies or TP at 3AM.
Steve
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Is there hope of defeating the Obesity Epidemic one mouth at a time?
The Captain
And there’s a Dollar General or other dollar store around the corner.
Meanwhile Walgreens and CVS are closing stores too. Customer tastes are changing. More mail order drugs. Stores in small towns hard to staff.
The fate of corner drug stores was sealed by online sales. The key word is “corner!” You don’t want to go a long distance to buy an important drug. Next day or same day delivery made location irrelevant.And having an inventory on every corner is very inefficient.
There are lots of € stores in Porto. I haven’t figured out what makes $ & € stores tick.
The Captain
Kids and young teens. They have cash to spend and not a lot of choices where to spend it. The corner store has a natural captive market.
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In my area Dollar General seems to have a store in every small town. They often are the only surviving retailer other than a gas station with a convenience store. They have low prices on many items including packaged foods usually in small size packages.
They have good prices on pet food. I notice Walmart often undercuts their prices by pennies. Some pet foods are inexpensive but after best by date.
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Or maybe it is corporate cost cutting? Reduce customer convenience to reduce overhead expense?
Steve
“They have good prices on pet food. I notice Walmart often undercuts their prices by pennies. Some pet foods are inexpensive but after best by date.”
I pop into the local Walgreen’s and they used to have good prices on bags of cashews and pistachios. But quit buying them because they were stale, did not taste right. Haven’t noticed a " best by date" on them, but after maybe 5 straight times, won’t buy them again. Rarely go in there now, that’s mostly what I went there for.
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