{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Daybreak","title":"7-Eleven promised \"Everything essential\". It still lost to India's corner shops","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/d0c09550\"></iframe>","width":"100%","height":180,"duration":900,"description":"“Mile har cheez zaruri.” Everything essential, right here.\nThat was the promise on the signs inside India’s first 7-Eleven, which opened in Mumbai five years ago, with India’s biggest retailer behind it.\nThis September, the last 31 stores shut. In its last full financial year, the chain lost nearly ₹90 crore on just ₹92 crore of revenue. Analysts point to local competition like kiranas and quick commerce.\nBut no one from the companies themselves have offered an explanation for why the stores are closing. Still, this is a chain that thrives next to corner shops in other countries. So what was missing here? Host Rachel Varghese explores.\nThis episode is edited by Arnav Prakash\n\nDaybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.","thumbnail_url":"https://img.transistorcdn.com/uPitovxKRYBGX6AWg9UrET6s3nAdkS-Ci9uZvsZj7vk/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS85ODhl/ZWM4NmEwZTcxZjZk/MDRlYjAzNTNkMjJi/ZGQ2YS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}