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7-Eleven unveils loyalty app, posts revenue growth amidst COVID-19

7-Eleven unveils loyalty app, posts revenue growth amidst COVID-19

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7 Eleven Malaysia has rolled out an e-loyalty programme via a mobile app called My7E, offering annual birthday rewards, exclusive in-app monthly product e-stamp cards, e-coupons and 7REWARDS for Slurpee fans. Members are also able to link up their B Infinite card and for now Razer Pay e-wallet within the app to enable a seamless points collection or e-payment facility when they shop at 7-Eleven stores nationwide.

In a statement to A+M, 7-Eleven's GM, marketing, Ronan Lee, said in the digital age with growing interaction with consumers, the company is always looking for better and more efficient ways to build reward programmes, inspire customer loyalty and take customer relationships to the next level.

According to him, loyalty today requires "a redefinition of service", one that offers consumers especially Millennials more choices, personalisation and immediate gratification according to their individual preferences and My7E would seek to offer all that over time.

The investments we are making in new technology, services as well as team members are done with a commitment to disciplined financial returns and profitable growth as we look for these strategic investments to be offset overtime by improved customer retention and visits, increase in revenue and other cost saving opportunities," he explained.

Lee added that when it comes to marketing strategies, the company will focus on the organic route initially, with the new member reward of the RM3 e-voucher serving as an user take-up incentive. This is while it takes in user feedback to further optimise and enhance its app functions and offerings. Moving forward, Lee said any other card or e-wallets that are accepted in-stores can be linked virtually to My7E app. Besides the technical challenges, Lee said the other challenges they faced were more "fun" such as negotiating and cost-modelling to create the best deals and rewards possible for its. members.

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CEO Colin Harvey said down the road, it will constantly optimise its loyalty app offerings and services based on feedback and by phases, its consumers have the added convenience of reaching out directly through the app. This is in addition to the current touchpoints of its website and social media platforms. Users are also able to locate the nearest 7-Eleven stores based on current location via Google Maps on the app, as well as receive updates on the latest 7-Eleven campaigns and new and exclusive product launches.

During the first quarter of 2020 (Q1 2020), 7-Eleven's revenue grew by 6.1% to RM619.3 million. According to the company, the revenue growth continued to be driven by the growth in new stores, higher same store sales and better consumer promotion activity. Its gross profit improved by 5.2% to RM192.5 million, mainly attributed to the increase in revenue and improved logistics expenses recovery. Other operating income increased by RM4.9 million (17.2%) driven by increase in marketing income.

According to the group, its performance was affected by COVID-19 as its stores in malls were closed while others were operating under restricted hours during the Movement Control Order. While it is difficult to ascertain changes in consumer behaviour and how the economy will recover, 7-Eleven will continue to explore opportunities for growth in other channels and innovate in our product offerings. The company added that it will also continue to focus on our customer’s needs, pursuing its core strategy pillars of operational excellence, cost management and commercial innovation. At the same time, it will also refresh the 7-Eleven brand in the mind of customers though refreshed stores, innovations in its pricing, promotions, and developing exciting products.

"Our strategy roadmap of strengthening assortment, supply chain, operational excellence, store base and digitally enabling the organisation continues to bear fruit and despite challenging conditions ahead due to the COVID-19 pandemic, our continuous discipline in executing our strategy roadmap as well as leveraging and seeking out opportunities from our recent corporate acquisitions whilst remaining flexible to adapt to market changes shall ensure that 7-Eleven remains as the nation’s preferred convenience store choice," Harvey said.

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