Chapter 1436 Small Convenience Store, University Education

The first 7-11 in Thailand opened on July 1st.

This is Yin Junxuan's day.

But instead of just one 7-Eleven opening, 100 were opened in one fell swoop.

When Xiangjiang's 7-11 first opened, there were only 50 of them.

But considering Thailand's current rapid economic development, and Bangkok is the largest city in Thailand with a population of more than 8 million, the living standards of residents are not much worse than that of Xiangjiang.

Coupled with the great help of Pangu Bank, Jin Qiuwen made this decision after careful consideration.

Yin Jun has fully entrusted him with the responsibility for the development of Thailand's 7-11. He also knew about Yin Jun's bet with Japan's Ito Yokado, so he worked hard and in more than four months, with the help of Yin Jun, The entire team traveled all over Bangkok's streets and conducted surveys more than a dozen times before deciding on the addresses of these 100 7-Eleven stores.

As we all know, many industries rely on intensive development to make profits.

24-hour convenience stores are such an industry.

If you open one or two companies, you will have no advantage over any supplier.

But if you have 50, 100, or 1,000 convenience stores, then you are the supplier's guest.

Not only can you get the best price for your goods, but you also have more guarantees in terms of quality, and you can also save money on the goods, which is also an advantage.

What's even more exaggerated is that in order to enter your convenience store, many suppliers will not hesitate to subsidize more to get their products on the shelves.

These were originally rights only enjoyed by supermarket giants such as Wal-Mart, Carrefour, and Ito-Yokado.

But later, through the experience of convenience stores such as 7-11, FamilyMart, and Luosong, we can know that if done well, small convenience stores can really counterattack and develop even more impressively than these large supermarkets.

Even Yin Jun knew it.

The impact of JD.com, Tmall, and Amazon in the Internet era has made Wal-Mart, Carrefour, and Ito-Yokado embarrassed, and they have closed their supermarkets one after another.

But only the small 24-hour convenience chain stores have not shrunk, but have grown stronger.

Because the consumption patterns and consumption objects of the two are completely different.

The crowd targeted by the supermarket happens to be a serious overlap with the consumer groups of JD.com, Tmall Supermarket, and Amazon.

When prices are cheaper than in supermarkets and can be delivered to your door, do you think young consumers would rather go to the supermarket for half a day to buy things, or lie at home and buy things with their mobile phones?

Especially when young people in the 1980s and 1990s who have started to start families are completely fond of using new network technologies, this phenomenon is even more prominent.

But 24-hour convenience stores are different.

It is aimed at people who have "urgent needs" on weekdays.

To be more specific, I walked to the street and suddenly wanted to buy a bottle of water, a lunch box, or an ice cream... Then I can't possibly click on JD.com or Tmall supermarket and ask them to deliver it to me, right?

So I walked into a nearby 24-hour convenience store and bought the small things I needed. It was convenient and fast.

24-hour convenience stores play this role.

Therefore, it is fundamentally different from the general supermarket crowd. Instead, it is a complementary subsidy.

Then it developed rapidly and continued to expand its territory in the Internet era.

Thailand is a very special example.

Because traveling in Southeast Asia is cheap, in a previous life, Yin Jun’s boss asked everyone where they would like to travel. The company offered money, and Yin Jun said that everyone should go to Thailand.

Then Yin Jun saw 7-11s all over the streets in Thailand.

Moreover, Thailand has regarded 7-11 as a kind of culture. Everyone likes to buy things at 7-11. The convenience of life in an area is directly related to the number of 7-11 in that area.

In the end, the sales and profits of 7-11 in Thailand were higher than those in Japan.

So Yin Jun’s first choice was to develop 7-11 in Thailand.

Jin Qiuwen and his friends opened 100 7-11 stores together, which Yin Jun also strongly agreed with.

The opening of 100 7-11 stores not only immediately covers the entire bustling area of ​​Bangkok, but more importantly, with so many stores added together, 7-11 is qualified to offer conditions to major suppliers.

The content of the conditions is not only the quantity, price and checkout requirements, but more importantly, the demand for 7-11's special products.

The special products of 24-hour convenience stores will be the winning formula for stores such as 7-11, FamilyMart, and Luosong in the future.

They all have products that are only available in their own stores, or even products that are only available in this area.

For example, 7-11’s Hokkaido-specific milk ice cream is only sold in Hokkaido.

Luo Song's cherry blossom cake is only sold in season between March and April in Japan.

This greatly increases the expectations of customers and makes them feel that what they buy is not just to satisfy their hunger and cope with it, but an exquisite life choice.

In this way, they are willing to go to convenience stores and buy novel things when they see them.

Then sales will naturally increase and profits will increase.

However, this kind of special product is most popular and well-established only in Japan and Thailand.

7-11 has been losing money for several years after entering China. The reason is probably related to their inability to bring out this set of special products.

There is no way to win the favor of picky Chinese customers with a sales model and products that are invisible to everyone.

Yin Jun clearly understands the success of 7-11.

When he was in Xiangjiang, Yin Jun told Jin Qiuwen and others about these experiences and assumptions.

After their experiments and successes in Hong Kong, they did not take things lightly and become arrogant after coming to Thailand.

Smart people all know that if you try to replicate any successful model in another field, another place, or even another time period, it is unrealistic and is likely to fail.

It must be combined with reality and the local needs and habits at that time to achieve success.

For example, Thailand is a typical tropical country. If you try to apply the Japanese style to Thailand, it will not work.

Japanese people like to eat light food, but Thailand likes hot and sour food, so the food in 7-11 should be biased towards this taste.

The weather in Thailand is very hot, and you also like to eat cold things, so you need to pay special attention to this.

And because the weather is too hot, you need to prepare more sunscreen, mosquito repellent, etc. in 7-11. This is another different place.

The more than four months that Jin Qiuwen and the others came to Thailand were not just about site selection.

They conducted a lot of surveys and statistical analyzes on the living habits and needs of Thai people. The conclusions they finally reached were written into a planning document. They began to negotiate with various merchants in Thailand, select products, and began to customize what they needed. commodity.

7-11 is not well-known in Thailand, and neither is Kirin Group.

But Pangu Bank is very famous in Thailand!

As the largest bank in Thailand, Pangu Bank’s tentacles have extended to all aspects of Thailand, especially the center of Thailand, Bangkok, which is their base camp.

100 places were selected to purchase land, storefronts, and be built and transformed into 7-11 stores. All these contacts in Thailand were done by Pangu Bank. It was a smooth process and could be concluded in a week at most.

This is only one aspect.

Next, they endorsed the Kirin Group and told the suppliers negotiating with Jin Qiuwen that all funds and credit guarantees of the Kirin Group were guaranteed by Pangu Bank.

Hearing this, all negotiation difficulties disappeared.

Those suppliers, with an unprecedented positive attitude, signed a supply contract with the Kirin Group's Thai branch and decided to produce the various goods they needed in accordance with 7-11's requirements.

People in Thailand are generally a bit lazy, but generally they are getting along well. Companies and enterprises are not too slow in their production and research and development efficiency in order to survive.

It was also at this unprecedented speed that in just over four months, everything from store location selection to product selection, production and stocking was completed, and the business was successfully opened on July 1st.

Most Thai people can actually be considered carefree, and because they are a country that believes in Buddhism, their character is better than that of people in many countries.

Seeing so many brand new shops with identical decorations, they were curious and walked in to see what was sold inside.

Once you walk in like this, you can't come out empty-handed.

I liked this thing, and I also liked that thing... As a result, I came out with several pockets.

Only half a month after opening, 7-11 has already announced that it has begun to make a profit.

Compared to Xiangjiang, it’s not much different.

You know, Xiangjiang is Yin Jun’s hometown. As long as it is a product launched by Yin Jun, Xiangjiang people will unconditionally support it. That’s why 7-11 can do so well in Xiangjiang.

It is different in Thailand. 7-11 has no basis at all. Even advertising is just advertising leaflets on local TV stations and streets.

As a result, Thailand was able to achieve profitability so quickly and established a good image in the minds of the people, resulting in more and more repeat customers and more sales. It must be said that most of this is attributed to Jin Qiuwen and the others. credit.

But Jin Qiuwen was not proud at all.

Because he and his team knew that the decision to come to Thailand was made by Yin Jun, and most of the marketing strategies and management models were also created by Yin Jun.

Although they have made many improvements and changes in Thailand now, they remain true to their roots. Most of the credit actually belongs to Yin Jun.

Only Thailand 7-11 can cover most areas of Thailand in the fastest time, reaching the scale of 1,000 stores that compete with Ito-Yokado, and overall they are profitable stores. This can reflect their value.

For this goal, Jin Qiuwen had already decided that after stabilizing the basics of Bangkok, he would expand to other big cities in Thailand!