By Michelle Locke, Associated Press Writer
What goes well with Slim Jims and Slurpees? 7-Eleven wine, naturally.
The convenience store chain announced Tuesday it is getting into the value wine business, releasing two low-priced proprietary wines in the United States and Japan.
Sold under the Yosemite Road label, the California wines, a chardonnay and cabernet sauvignon, will retail for about $3.99, a price-point that has been doing well despite — or perhaps because of — the economic doldrums.
"The consumer is really pinched as far as discretionary income. We're seeing a lot of success in products that really resonate on a value basis," said Kevin Elliott, senior vice president of merchandising and logistics of Dallas-based 7-Eleven, Inc.
Private label products were strong sellers for many food retailers even before the economic crisis hit. Last year, 7-Eleven launched the 7-Select line of staples including cookies, candies, chips and beef jerky.
Adding wine ties into two economy driven trends — a demand for affordability coupled with more people eating at home, said Thom Blischok, president, global innovation and shopper marketing, at Chicago-based IRI, a market research company.
"They're changing the game at convenience store retailing. They're really trying to take this back to neighborhood stores. They fulfill your most basic needs," he said.