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DALLAS - 7-Eleven Inc. senior executives announced today the company is hosting its first quarterly Product Innovation Day on Jan. 17, 2002, at its headquarters in Dallas. The nation's leading convenience retailer is inviting vendors to submit profiles about their company and products to be included in this forum. Finalists will be invited to showcase their products to the company's senior merchandising team for potential inclusion in close to 5,800 participating 7-Eleven stores.
Jeff Hamill, vice president of merchandising at 7-Eleven Inc., estimates the company receives more than 3,000 new product pitches each year. "We are designating a day once a quarter to provide new vendors an opportunity to meet with our top merchandising executives," Hamill said. "We're looking for companies that will come with manufacturing capabilities and resources to meet the demand of a six million-a-day customer base."
With retail shelf-space at a premium, competition is fierce among manufacturers for much-coveted facings. In the small space of a convenience store, that's especially so where product profitability is literally measured by the square inch. 7-Eleven uses its "first, best, only" strategy as the benchmark to measure new product offerings. "If possible, we want 7-Eleven to be first to market, offer the best quality and value, and have product exclusivity," Hamill said. "That's a tall order and a day-in, day-out challenge. We're looking for quality for our customers and products that will become successful."
Product Innovation Day vendor forms are available by calling the toll-free number 1-800-255-0711.