Leading convenience store chain 7-Eleven Malaysia (7-Eleven) has received the prestigious Corporate Excellence Award at the Asia Pacific Enterprise Awards (APEA) 2023 Malaysia. Additionally, the Co-CEOs of 7-Eleven, Tan U-Ming and Wong Wai Keong, have been honored with the esteemed Master Entrepreneur Awards. The awards ceremony, held on 2 June 2023, recognized the outstanding achievements, visionary leadership, and exceptional entrepreneurial prowess demonstrated by 7-Eleven Malaysia and its esteemed Co-CEOs.
7-Eleven is the largest 24-hour convenience store operator in Malaysia with over 2,400 outlets nationwide serving more than 1 million customers daily. Incorporated in 1984, 7-Eleven has made its mark in the retailing scene and remained a prominent icon for over 39 years. Each 7-Eleven store carries over 2,200 SKUs, including its proprietary brand: Slurpee frozen beverages. At 7-Eleven, its vision is to be the best retailer of convenience. The company is driven by a mission to consistently serve the ever-changing needs of customers for their convenience. Understand, Simplify, Solve, and Connect are the corporate values that serve as the foundation of its organizational culture and shape the way it operates.
Deciding the assortment of products and services has always been one of 7-Eleven’s challenges. Over the years, the company’s range of private-label products expanded while simultaneously delivering a variety of value-added options to consumers. Active efforts have been made to introduce new and exclusive products, including premium imported goods and limited-edition merchandise through collaborations with the Disney company. Strategic partnerships with niche operators like Niko Neko Matcha and Lingham’s create novel and sensory-inspiring offerings. For 7-Eleven, keeping the menu fresh, relevant, and exciting remains one of its prime focus areas.
7-Eleven takes pride in being the largest convenience store operator in Malaysia. In 2022, the company strategically opened 80 new stores, comprising 52 Classic stores and 28 7-CAFé stores. Additionally, 60 pre-existing Classic stores were renovated and transformed into the 7-CAFé format, resulting in a total of 88 7-CAFé stores. By the financial year end of 2022 (FYE2022), 7-Eleven recorded an all-time high growth in revenue, with an increase of 37.2% compared to the previous year.
Besides that, talent development serves as a vital component of its business strategy, enabling sustainable growth. In 2022, 7-Eleven significantly increased its investment in training, totaling RM1.7 million, representing a growth of 49.4% compared to the previous year. 7-Eleven’s commitment to employee development is evident in the doubling of average training hours per employee, which is now reaching 8 hours per year.
Its workforce development strategy includes the implementation of Store Training with New Modules. This comprehensive training program encompasses Objective Setting, Dedicated Store Trainer, and Post-Action Planning. Furthermore, the company prioritizes ongoing training in crucial areas such as product and food handling, customer engagement, upselling techniques, and promotion tracking. By continually improving these skills, the company ensures that its customers have positive and satisfying experiences at its stores.
In the upcoming year, the Convenience Stores segment of 7-Eleven will maintain its focus on expanding the new 7-CAFé store format, with an emphasis on constant innovation and refreshing the Fresh Food menu with ready-to-eat (RTE) meals. By incorporating clean and healthy ingredients that offer enhanced nutritional value, the company can cater to the modern consumer who prioritizes product attributes over brand.
Optimization of the newly commissioned Chilled Distribution Centre will play an essential role in driving the growth strategies for Fresh Food and Perishable products. Besides that, 7-Eleven plans to complete the construction of the new Fresh Food Commissary, which has the capacity to serve all stores in the Klang Valley. This facility will feature advanced equipment and automation, elevating the quality and consistency of the Fresh Food offerings for customers.
The company also aims to double the member count of the My7E apps this year, envisioning an enhanced consumer journey through physical and digital touchpoints. By leveraging these initiatives, 7-Eleven strives to deliver an exceptional experience to its members, ensuring their satisfaction and loyalty in the foreseeable future.
About Enterprise Asia
Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are an investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs, and other organizations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia, and in ensuring a legacy of hope, innovation, and courage for the future generation. Please visit www.enterpriseasia.org for more information.
About Asia Pacific Enterprise Awards
Launched in 2007, the Asia Pacific Enterprise Awards is the region’s most prestigious award for outstanding entrepreneurship, continuous innovation, and sustainable leadership. The Award provides a platform for companies and governments to recognize entrepreneurial excellence, hence spurring greater innovation, fair business practices, and growth in entrepreneurship. As a regional award, it groups together leading entrepreneurs as a powerful voice for entrepreneurship and serves as a by-invitation-only networking powerhouse. The program has grown to encompass 16 countries/ regions and markets all over Asia. For further information, please visit www.apea.asia.
About 7-Eleven Malaysia
7-Eleven Malaysia Holdings Berhad through its subsidiary 7-Eleven Malaysia Sdn. Bhd. is the owner and operator of 7-Eleven stores in Malaysia. Incorporated on 4 June 1984, 7-Eleven Malaysia has made its mark in the retailing scene and has been a prominent icon for over 39 years. 7-Eleven Malaysia is the pioneer and largest 24-hour standalone convenience store operator in Malaysia with over 2,400 outlets nationwide and serves more than 1 million customers daily. 7-Eleven stores can be found across bustling commercial districts to serene suburban residential compounds throughout Malaysia, from petrol stations and LRT stations to shopping malls and medical institutions. 7-Eleven is Always There For You. To learn more, please visit our website at www.7-eleven.com.my.