Products Such As ZYN Cannot Make Up For The Pressure Of Cigarette Sales. 7-Eleven Has Decided To Close 400 North American Stores

Products such as' ZYN 'cannot make up for the pressure of cigarette sales. 7-Eleven has decided to close 400 North American stores

Due to a 26% decline in cigarette sales since 2019, products such as "ZYN" have failed to fill this gap. 7-Eleven has closed 444 North American stores and has decided to continue optimizing its stores in the future.

According to CNN on October 11th, Seven&I Holdings, the Japanese parent company of 7-Eleven, announced in its financial report on Thursday (10th) that it has decided to close 444 North American stores due to various reasons such as slowing sales, declining foot traffic, inflationary pressure, and reduced cigarette purchases.

The specific list of closed stores has not been announced yet. The chain brand has over 13000 stores in the United States, Canada, and Mexico, resulting in 3% of its total stores being closed.

Seven&I stated in its financial report that despite the overall "strong" North American economy, low - and middle-income consumers are adopting a "more cautious consumption approach" due to persistent inflation, high interest rates, and deteriorating employment conditions. These factors led to a 7.3% decrease in passenger traffic in August, marking the sixth consecutive month of decline.

The chain brand also pointed out that cigarettes, which were once the largest sales category in convenience stores, have seen a 26% decrease in sales since 2019. Although it has been transferred to other nicotine products such as' ZYN ', it has not yet filled this gap.

In a statement to CNN, 7-Eleven stated that the company is "continuously reviewing and optimizing its asset portfolio," and the closure of stores is part of its growth strategy. The brand stated that it will continue to open new stores in areas where customers need more convenience.