Seven-Eleven Outlets to Offer Virtual Markdowns

Economy

Tokyo, May 17 (Jiji Press)--Major convenience store chain Seven-Eleven Japan Co. will virtually mark down "bento" boxed meals and other food items with only a few hours of shelf life remaining, starting in autumn this year, it was learned Friday.

Industry rival Lawson Inc. <2651> will do the same at some outlets beginning in June on a trial basis.

The measures are aimed at reducing food loss and also improving profitability at franchise stores, by reducing costs to dispose of food waste, most of which are currently borne by the stores.

At Seven-Eleven Japan, effective markdowns will be applied to several hundred food items including boxed meals and rice balls with only a few hours left before their shelf life expires, informed sources said.

Customers who buy such items will get added points under the "nanaco" e-money program of Seven & i Holdings Co. <3382>, the parent of Seven-Eleven Japan. The cost of the extra points will be shouldered by the chain's headquarters, the sources said.

[Copyright The Jiji Press, Ltd.]

Jiji Press