“It seems like every third person goes to Japan twice a year. They go to 7-Eleven in Japan where they love the ready-to-eat meals, of which a lot is cold food, sandwiches and onigiri,” says Price at the company’s recent results briefing. “But when they go home to Guangdong, they want a hot meal,” he adds.
For Scott Price, group CEO of DFI Retail Group (SGX:D01
) , which operates the 7-Eleven franchises across several markets in Asia, it is his business to be a keen observer of how consumers behave.
Price is betting that his network of 1,800 7-Eleven convenience stores in China’s Guangdong province will enjoy growth by offering ready-to-eat meals in the “food bars” of each store. He is basing this strategy on how the record number of Chinese tourists flocking to Japan have behaved: they don’t just slurp ramen or savour omakase meals; they crowd into Japan’s convenience stores to pick up ready-to-eat meals as well.
