Mass. Convenience Store Closing 400 Locations
Need a diet coke? Lottery? Cigarettes? Gum? Pre-packaged egg salad sandwich? Head to your nearest convenience store and you'll find all of those products. Are Americans less interested this stuff now?
7-Eleven plans to close more than 400 locations in North America by the end of 2024
Massachusetts is chock full of 7-Elevens, although no word on which stores will be shut down.
Why are 7-Eleven stores closing?
Inflation. Cigarette sales. Walk-in store traffic.
Cigarette sales
Cigarette sales are down by 26% since 2019
Cigarette sales are down 26% since 2019 — an 80-year low — according to the company, as customers seek alternative nicotine products such as Zyn. -npr.org
People want healthier stuff
Perception is reality and when it comes to 7-Elevens, high quality food isn't the first thing that comes to people's minds.
“Affordable, high quality foods are becoming more important,” Joe DePinto, the CEO and president of 7-Eleven, said in the earnings call.
Inflation
While the price of healthier product is going up, so is the price of everything else including everything inside the walls of your local 7-Eleven.
Massachusetts doesn't have the most number of 7 Eleven's, but certainly not the least. Some states don't have any. The country with the most stores? Japan.
The company did not say which stores in Massachusetts were closing, but it'll surely be the the underperforming ones. 7-Eleven said it's shifting focus to invest in its higher-demand locations.
SWEET: 16 Totally Awesome '80s Candies We Were Obsessed With
Gallery Credit: Stephen Lenz
LOOK: 15 formerly popular foods in America that are rarely eaten today
Gallery Credit: Stacker