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Learn English with a News Story about Economics

The Economics of 7-Eleven

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Published: 10.20.2024
Level 5   |   Time: 4:33
Accent: American
Source: WSJ

7-Eleven in the U.S. is trying to modernize its business by learning from 7-Eleven in Japan.


triangle Directions 목표 Direcciones Instruções

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  1. READ the VOCABULARY

    It is important to read the vocabulary before you watch the video. This will improve your ability to understand the video. It will also help you understand how the new vocabulary is used naturally.

  2. WATCH the VIDEO

    The first time you watch the video, just try to understand the overall situation.

  3. ANSWER the QUESTIONS

    First try to answer all the questions from memory. Then rewatch the video and try to answer the questions that you missed.

  4. WATCH and READ the SCRIPT

    Watch the video again while you read the script. Reading and listening at the same time will help you hear each individual word and improve your listening accuracy.

  5. DO the ACTIVITIES

    There are several different activities that focus on test preparation, vocabulary, grammar, and sentence structure.

  1. LEA el VOCABULARIO

    Es importante leer el vocabulario antes de ver el video. Esto mejorará su capacidad para comprender el video. También le ayudará a comprender cómo se usa el nuevo vocabulario de forma natural.

  2. VER el VIDEO

    La primera vez que vea el video, intente comprender la situación general.

  3. RESPONDE a las PREGUNTAS

    Primero intente responder todas las preguntas de memoria. Luego, vuelva a ver el video e intente responder las preguntas que se perdió.

  4. MIRAR Y LEER

    Mire el video nuevamente mientras lee el guión. Leer y escuchar al mismo tiempo lo ayudará a escuchar cada palabra individual y mejorará su precisión auditiva.

  5. HACER LAS ACTIVIDADES

    Hay una serie de actividades diferentes que se centran en la preparación de la examen, el vocabulario, la gramática y la estructura de las oraciones.

  1. 어휘 읽기

    비디오를 보기 전에 어휘와 배경을 읽는 것이 중요합니다. 이렇게 하면 비디오를 이해하는 능력이 향상됩니다. 또한 새로운 어휘가 어떻게 자연스럽게 사용되는지 이해하는데 도움이됩니다.

  2. 비디오 보기

    비디오를 처음 볼 때 전체 상황을 이해하려고 노력하세요.

  3. 문제에 답하기

    먼저 모든 질문에 답을 해보세요. 그런 다음 비디오를 다시보고 놓친 질문에 답해보세요.

  4. 비디오 보면서 대본 읽기

    대본을 읽는 동안 비디오를 다시 보세요. 읽기와 듣기를 동시에 하면 각각의 단어를 듣고, 듣기 정확도를 향상시킬 수 있습니다.

  5. 액티비티 하기

    듣기 정확도, 발음, 어휘, 문법 및 문장 구조에 초점을 맞춘 다양한 액티비티가 있습니다.

  1. LER o VOCABULÁRIO

    É importante ler o vocabulário antes de assistir ao vídeo. Isso melhorará sua capacidade de entender o vídeo. Também ajudará você a entender como o novo vocabulário é usado naturalmente.

  2. ASSISTA ao VÍDEO

    Na primeira vez que assistir ao vídeo, tente entender a situação geral.

  3. RESPONDA às PERGUNTAS

    Primeiro, tente responder a todas as perguntas de memória. Em seguida, assista novamente ao vídeo e tente responder às perguntas que você errou.

  4. ASSISTA e LEIA o SCRIPT

    Assista ao vídeo novamente enquanto lê o roteiro. Ler e ouvir ao mesmo tempo ajudará você a ouvir cada palavra individualmente e a melhorar sua precisão auditiva.

  5. FAÇA as ATIVIDADES

    Existem várias atividades diferentes que se concentram na preparação para o teste, vocabulário, gramática e estrutura de frases.

triangle Vocabulary 어휘 Vocabulário Vocabulario

  • ☐ ☐ ☐ collaborations [n] - working together with others to achieve a common goal
  • ☐ ☐ ☐ Slurpees [n] - a frozen, slushy drink sold at 7-Eleven stores [image] ESL Vocab - Slurpees
  • ☐ ☐ ☐ appealing [adj] - attractive, interesting.
  • ☐ ☐ ☐ racing [v] - moving quickly to acheive a goal
  • ☐ ☐ ☐ double down [exp] - increase effort or commitment to something
  • ☐ ☐ ☐ a wide array [exp] - a large variety or selection of things
  • ☐ ☐ ☐ stock [v] - put items in a store for sale
  • ☐ ☐ ☐ a proprietary distribution system [exp] - a unique way to deliver products
  • ☐ ☐ ☐ multiple [adj] - more than one
  • ☐ ☐ ☐ a shipment [n] - a delivery of goods
  • ☐ ☐ ☐ demographic trends [n] - changes in the characteristics of a population
  • ☐ ☐ ☐ an operator [n] - a person who controls or manages something
  • ☐ ☐ ☐ a unit [n] - a single item or part
  • ☐ ☐ ☐ a distribution system [n] - a method of delivering products to customers
  • ☐ ☐ ☐ place an order [exp] - request products or services, make an order
  • ☐ ☐ ☐ shifts [n] - changes
  • ☐ ☐ ☐ fuel [n] - gasoline, gas, petrol
  • ☐ ☐ ☐ tobacco products [n] - cigarettes, cigars, etc.
  • ☐ ☐ ☐ a low-margin business [exp] - a business that makes little profit from each sale
  • ☐ ☐ ☐ electric vehicle adoption [exp] - more people using electric cars
  • ☐ ☐ ☐ targeted advertising [exp] - ads aimed at a specific group of people
  • ☐ ☐ ☐ spur [v] - encourage something to happen
  • ☐ ☐ ☐ impulse buys [n] - unplanned purchases made quickly
  • ☐ ☐ ☐ a vendor [n] - a seller of products
  • ☐ ☐ ☐ a cold vault [n] - a refrigerated area for storing cold drinks
  • ☐ ☐ ☐ enthusiasm [n] - excitement, strong interest

[n] - noun,  [v] - verb,  [phv] - phrasal verb,  [adj] - adjective,  [exp] - expression


triangle Questions 문제 Questões Preguntas

  1. 7-Eleven ______ has collaborated with famous restaurants.
    in Japan
    in the US

  2. 7-Eleven ______ is well-known for its wide variety of fresh food.
    in Japan
    in the U.S.

  3. 7-Eleven has over 13,000 locations ______.
    in Japan
    in North America

  4. Tobacco sales ______ at 7-Eleven stores in the U.S.
    are already decreasing
    will likely decrease

  5. Gas sales ______ at 7-Eleven stores in the U.S.
    are already decreasing
    will likely decrease

  6. Japaense 7-Eleven stores tend to be ______ than the U.S. stores.
    bigger
    smaller

  7. Japanese 7-Eleven stores receive multiple shipments ______.
    every day
    every week

  8. American stores used to stock a lot of item that ______.
    did not sell well
    were imported from Japan

  9. 7-Eleven hopes to make ______ of its sales from store-brand goods next year.
    25%
    33%

  10. Gasoline sales ______ very profitable for 7-Eleven in the U.S.
    are
    are not

  11. Tobacco sales ______ very profitable for 7-Eleven in the U.S.
    are
    are not

  12. 7-Eleven has recently started investing in targeted marketing ______.
    on social media
    in stores

  13. 7-Eleven's delivery orders are typically ______ than in-store purchases.
    larger
    smaller


triangle Vocabulary Review 어휘 검토 Revisão de vocabulário Vocabulario revisión

Directions: What expressions from the video have the same meaning as the highlighted expressions in the sentences below?

  1. Michelin-type ramen [ team-ups, cooperations ] with famous restaurants like Santoka.

    [ collaborations ]



  2. Many are racing to find other sources of revenue and [ investing even more in ] food.

    [ doubling down on ]



  3. The Japanese stores didn't sell gas but had a much [ greater variety ] of fresh food.

    [ wider array ]



  4. Japanese stores only [ put on shelves for sale ] items that would sell quickly.

    [ stocked ]



  5. Orders were customized by store based on sales data, [ population statistical ] trends, and local weather forecasts.

    [ demographic ]



  6. Now, American 7-Eleven has its own distribution system, where franchises [ make, submit ] orders every day.

    [ place ]



  7. It hopes to make [ 33% ] of its sales from store-brand goods, up from less than [ 25% ] in 2022.

    [ one-third ] [ one-quarter ]



  8. Gas is already a [ not very profitable ] business.

    [ low-margin ]



  9. The company is investing in targeted advertising to [ increase, encourage ] [ unplanned purchases ].

    [ spur ] [ impulse buys ]



  10. It helps 7-Eleven target our customers at [ the place where the sale is made ] .

    [ the point of purchase ]



  11. It's [ very ] profitable for the company.

    [ highly ]



triangle Grammar 문법 Gramática Gramática (statistics words)

  • The world's largest convenience store chain has (over) 13,000 locations in North America (alone) .
  • Cigarette sales continue to (decline) and many expect gas sales to (slow) .
  • They had a proprietary distribution system that made (multiple) shipments to stores every day.
  • In (total), it sold over $17 billion of food last year, about 24% of its (overall) sales.
  • It hopes to make one-third of its sales from store-brand goods, (up) from less than one-quarter in 2022.
  • It's at risk (long-term) if electric vehicle adoption (increases) over time.
  • Food, though, is a category where (demand) just doesn't go away.
  • It makes sense that they would want to (double down) on that.
  • Delivery orders tend to be for about (double) the amount of in-store purchases.


triangle Sentence Building 문장 만들기 Construção de sentença Construcción de oraciones

Directions: Write sentences about the video clip using the words given. You can change the word form or add words, but you cannot change the word order.
( ) = optional   [ ] = necessary

Instrucciones: Escriba oraciones sobre el videoclip usando las palabras dadas. Puede cambiar la forma de la palabra o agregar palabras, pero no puede cambiar el orden de las palabras.

Instrucciones: Escreva orações sobre o videoclipe usando as palavras-chave. Você pode alterar a forma da palavra ou adicionar palavras, mas não pode alterar a ordem das palavras.

지시 : 주어진 단어를 사용하여 비디오 클립에 대한 문장을 씁니다. 어형을 변경하거나 단어를 추가할 수 있지만 어순은 변경할 수 없습니다.



Sentence 1

7-Eleven / Japan / know / wide / array / fresh / food / unlike / U.S. / counterpart / which / more / associate / Slurpee / hot / dog


7-Eleven (in) Japan is known for its wide array of fresh food, unlike its U.S. counterpart, which is more associated with Slurpees and hot dogs.



Sentence 2

company / have / over / 13,000 / location / North / America / which / generate / over / $72 billion / sale / last / year


The company has over 13,000 locations in North America, which generated over $72 billion in sales last year.



Sentence 3

historical / convenience / store / rely / tobacco / gas / sale / for / revenue / but / these / market / now / in / decline


Historically, convenience stores relied on tobacco and gas sales for (their) revenue, but these markets are now in decline.



Sentence 4

American / 7-Eleven / typical / have / large / store / and / often / attach / gas / station


American 7-Elevens typically have large(r) stores and are often attached to gas stations.



Sentence 5

contrast / Japanese / store / offer / wider / array / fresh / food / without / sell / gas


In contrast, Japanese stores offer a [wider/wide] array of fresh food without selling gas.



Sentence 6

Japanese / store / also / receive / multiple / daily / shipment / base / sale / data / and / local / trend


Japanese stores also receive multiple daily shipments (that are) based on sales data and local trends.



Sentence 7

converse / American / store / used / receive / only / two / delivery / week


Conversely, American stores used to receive only two deliveries [per/a] week.



Sentence 8

however / U.S. / division recent / modernize / distribution / system / allow / it / place / daily / orders


However, the U.S. division has recently modernized its distribution system, allowing it to place daily orders.



Sentence 9

last / year / food / sale / account / about / 24% / 7-Eleven / total / sale


Last year, food sales accounted for about 24% of 7-Eleven's total sales.



Sentence 10

with / decline / profit / gas / tobacco / sale / 7-Eleven / shift / focus / food


With declining profits from gas and tobacco, 7-Eleven [has shifted/is shifting] its focus to food.
With a decline in profits from gas and tobacco, 7-Eleven [has shifted/is shifting] its focus to food.



Sentence 11

company / also / invest / target / advertise / encourage / impulse / buy


The company is also investing in targeted advertising (in order) to encourage impulse [buys/buying].



Sentence 12

and / it / try / expand / delivery / service / which / high / profitable


And it is trying to expand its delivery service, which is highly profitable.



triangle Discussion 논의 Questões de discussão Discusión

  1. How were Japanese and American 7-Eleven stores different in the past?
  2. How are the U.S. stores now changing to copy 7-Eleven in Japan?
  3. Are convenience stores in your country more similar to convenience stores in the U.S. or Japan? In what ways?
  4. How about convenience stores in other countries that you have visited? Do any countries stand out as particularly unique, amazing, strange, or terrible?
  5. What do they mean when they refer to fresh food in this video? How often do you buy fresh food from conveniece stores? Which ones are the best? Which are the worst?
  6. Why do you think American customers seem less enthusiastic about convenience stores compared to customers in Asia? What changes could be made to attract more American customers?
  7. Do you think targeted advertising at the point of purchase significantly influences customers' buying decisions? Why or why not? Does it affect you? Can you think of an example?
  8. Do you like Slurpees? If so, why? What is the best flavor?

triangle Script 대본 Roteiro Texto

Rice balls, look at that! Michelin-type ramen collaborations with famous restaurants like Santoka. Milk tea — this is 7-Eleven in Japan. But in the U.S., the company is more known for Slurpees and hot dogs. It's just not as appealing. My perception is that people go in there when they need to.

The world's largest convenience store chain has over 13,000 locations in North America alone and made over $72 billion in sales last year. But now, it's working to bring more Japanese inspiration to its American stores. Convenience stores have historically made their money selling tobacco and gas, but now, as cigarette sales continue to decline and many expect gas sales to slow, many are racing to find other sources of revenue and doubling down on food.

There were some major differences between U.S. and Japanese 7-Elevens. The U.S. stores were typically larger and attached to gas stations. The Japanese stores didn't sell gas but had a much wider array of fresh food. Japanese stores only stocked items that would sell quickly. They had a proprietary distribution system that made multiple shipments to stores every day. Orders were customized by store based on sales data, demographic trends, and local weather forecasts.

American 7-Eleven stores were getting two deliveries per week, and some items were never being purchased. When American operators began counting items in their stores, some found that 40% of their products were selling less than one unit per month. Now, American 7-Eleven has its own distribution system, where franchises place orders every day based on company recommendations of what's selling nationally and regionally, and their own store data.

This is especially important when it comes to food. 7-Eleven Japan is known for its wide array of meal options — you're not going to believe the choice of food in a convenience store! American 7-Eleven also has a big food and beverage business. In total, it sold over $17 billion of food last year, about 24% of its overall sales. That included 315 million cups of coffee, 53 million Slurpees, and 99 million slices of pizza. But next year, it hopes to make one-third of its sales from store-brand goods, including food, up from less than one-quarter in 2022.

That's particularly important given shifts in the convenience store industry. So, if you think about what convenience stores sell, there's fuel, tobacco products, and food and snacks. Gas is already a low-margin business, and it's at risk long-term if electric vehicle adoption increases over time. Tobacco is very profitable, but people are smoking less. Food, though, is a category where demand just doesn't go away. So, for convenience stores, it makes sense that they would want to double down on that.

The company is investing in targeted advertising on screens and TVs throughout stores — that's to spur impulse buys. It helps not only 7-Eleven, but also our advertisers, our vendors, to target our customers at the point of purchase. For example, in the morning, we may target our customers with a message around a hot cup of coffee and a donut, whereas later in the day, we may target our customers with an advertisement that's around a snack and a beverage from our cold vault.

And for potential customers who aren't at the store, there's delivery — the fastest-growing part of the company's business. It's highly profitable for the company since delivery orders tend to be for about double the amount of in-store purchases. A big question is whether American customers will match the enthusiasm 7-Eleven sees in some of its other markets in Asia.

I think there is so much excitement around convenience stores and the types of food and snacks they offer. So, if they can bring even a little bit of that excitement to the U.S., that would be a great success!