"These are top-selling products that our customers expect us to offer in the assortment," Brian Haynes, 7-Eleven's category manager for prepaid services, told CSP Daily News in an exclusive interview.
The prepaid section is core to 7-Eleven's "strategy of offering a broad range of services for consumers [image-nocss] who pay with cash or do not have a credit or debit card," said CEO Joe DePinto in a statement when the company began offering Kwedit, a pre- or post-paid alternative that allows online gamers to continue playing without having to purchase a prepaid gaming card.
Working with Atlanta-based transaction processor InComm and numerous game publishers, 7-Eleven has found the multiple options draw a variety of demographics, though mostly younger consumers.
"There are 106 million unbanked or financially underserved customers in the United States, some 40 million households," said Haynes. "With that in mind, many customers, including kids/teenagers do not have a credit/debit account to allow them to purchase game credits online; therefore, they require a cash option. Our prepaid-card assortment can provide that solution for them."
To make sure customers know the option is available in its stores, 7-Eleven cleared out prime shelf space "in the first gondola run of the store, so it is the first thing customers can see when they enter most of our locations. We also have prime locations with a display on the sales counter in more than 50% of our stores."
The result for prepaid products overall has been "high double-digit increases year over year," Haynes said.
"We are a destination for prepaid-card products. This includes wireless, music, gaming, third-party gift, Visa gift cards, GPR products and bill-payment products," Haynes said. "We will add new and delete slow movers as the customer and competitive landscape continue to evolve."
7-Eleven Inc. is the largest chain in the convenience retailing industry. Based in Dallas, it operates, franchises or licenses approximately 8,200 7-Eleven stores in North America.
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