The New Convenience Store

Serving More People With Experiential Stores

Now that gas prices seem to be going down (at least a little bit!) we thought we would take a look at the Convenience Store category from a commercial real estate perspective. The convenience store merchant category in REGIS Online is where you'll find gas stations and other quick roadside shops, like 7-Eleven, Chevron, QuikTrip, and Wawa. Just like everything else in this industry, people are looking for an improved experience in the places they already know and love. Recently, 7-Eleven announced a new generation of store design with the introduction of its now ninth evolution. This new design has been built in the Dallas-Fort Worth area and focuses on the experience they can bring to their customers.

Of course, location is important in commercial real estate. But, as we start to see behavior patterns change in customers and other patrons of these establishments, it's important to know what they want and how to give them the best experience - and the best location - possible. This new 7-Eleven will allow for easier mobile ordering and other digital experiences while maintaining traditional convenience store standards. As we've discussed before, both digital stores and fast food drive-thru's are huge in the retail commercial real estate industry.

What's Better Than Convenience?

This new store design will be all about providing more for customers, whether they are regular patrons or stopping on a road trip. This 7-Eleven is equipped with customizable drink options, premium cigars, and an enhanced digital experience for 7-Eleven rewards members and app users. You might also notice the giant “Laredo Taco Company” signage on the front of this new establishment. An even bigger benefit - and a new concept for 7-Eleven - is adding favorite local restaurants to their stores as a draw for locals and an opportunity to share the best of Texas (in this case) with visitors from around the country.

Finding the Right Site With Traffic Data

The Dallas-Fort Worth area is an interesting place to test this new concept. Taking a look at the traffic data, it's clear that this area has a lot of activity. Since Dallas has a population of about 1.3 million people, the amount of travelers in this area is easy to understand. The North and Southbound Interstate nearby are also highly populated, with almost 65,000 people traveling north, and 75,000 people traveling south, probably towards the city. Since the Galleria Dallas is also just down the street from 7-Eleven, it's likely just another huge draw to the area.

Technology has been changing the commercial real estate industry for the last few years, with new and interesting concepts popping up in every market. Other convenience stores are starting to take notice too. New England's beloved convenience store, Wawa, has introduced mobile ordering and a more digital experience for loyalty members. It's only a matter of time before other stores take on this growing trend, and we can't wait to see what these brands do to expand their audience - whether they are morning regulars or one-time road trippers.•

Last Modified Dec 9, 2022