A Millennial Vintage: 7-Eleven(R) Fills in Proprietary Wine Line-up with Cherrywood Cellars Varietals
DALLAS --(BUSINESS WIRE)-- For legal-age millennials wanting to upgrade their wine selection without breaking the bank, 7-Eleven, Inc. is adding Cherrywood Cellars to its best-selling line-up of proprietary wines. The mid-tier-priced wine ($7.99 - $8.99 per bottle) is available in three varietals – chardonnay, cabernet sauvignon and merlot.
The cost for a bottle of Cherrywood Cellars wine falls between Yosemite Road, the company's first globally sourced product and priced at an entry-level $3.99 per bottle, and Sonoma Crest, a premium wine comparable to a $15 bottle, but value-priced at $9.99.
7-Eleven, Inc. has had great success with its ventures into the proprietary wine business. Within months after being introduced, Yosemite Road Chardonnay and Cabernet Sauvignon wines rose to No. 1 and 2 in sales at 7-Eleven, ahead of the leading branded reds and whites from well-known wineries. Likewise, 7-Eleven's Sonoma Crest and Thousand Oaks proprietary wines also land among the company's top-sellers.
Millennial-aged consumers, also called echo boomers or Generation Y, were born between 1975 and 1999. Estimates are that they will soon outnumber once-dominant baby-boomers. According to Wine Business Monthly magazine, wine marketers have primarily focused on the big-spending baby-boomer generation. The latest to come of legal age, millennials already drink more wine than their older Gen X siblings and have played a significant role in the growing popularity of wine-drinking in the U.S., the Wine Market Council reported in a recent study.
However, millennial consumers may watch their spending more closely than both Gen X'ers and baby-boomers because of the recent economic downturn and resulting high unemployment rate. Gen Y members appreciate quality; however, they are seeking the best value for their dollar.
"We are targeting millennials because they like convenience and want to new products, especially if we offer them a quality product at a great price," said Jesus Delgado-Jenkins, 7-Eleven senior vice president of merchandising and logistics."
Cherrywood Cellars was created to compete with the best-selling varietal wines, produced under both domestic and import labels. Even Cherrywood Cellars' labels, with simple relief-style, wood-stamp artwork, were designed to appeal to these younger consumers.
Wines are categorized by price, and Cherrywood Cellars would be ranked among the popular-premium or mid-tier category of wines that sell for $7 to $10.
About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses more than 83200 7-Eleven® stores in North America. Globally, 7-Eleven operates, franchises or licenses close to 39,400 stores in 16 countries. During 2009, 7-Eleven stores worldwide generated total sales of more than $58.9 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #3 spot on Entrepreneur magazine's Franchise 500 list for 2009, #3 in Forbes magazine's Top 20 Franchises to Start, #3 among Top 100 Global Franchises by Franchise Direct, #3 in Store Growth by Convenience Store News, #2 in Franchise Times Top 200 Franchise Companies and #29 among Top 100 Chains in Food Service. In addition, Hispanic Magazine named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven recently was selected by three diversity publications as a company offering the best career and franchisee opportunities. 7-Eleven is franchising its stores in the U.S., and is expanding through organic growth, acquisitions and its Business Conversion Program. In addition, the company received the 2009 Shopper-Centric Marketing Innovation from Symphony IRI and the 2010 Retailer of the Year award from PL Buyer because of the company's private-label brand program. Find out more online at www.7-Eleven.com.