台灣連鎖便利商店業競爭力分析─以 7-ELEVEN與全家為例

Abstract

本研究以台灣連鎖便利商店產業為對象，分析台灣連鎖便利商店產業之高現金流量、景氣衝擊性低與具寡佔的性質，並從成本結構與經濟規模的角度，探討企業在同業間得以維持高競爭力的關鍵因素。企業股價通常反映出企業的獲利能力、同業間競爭力，及未來的發展性，本研究的個案探討中，從成本結構分析，進貨成本占銷貨收入比例，是影響企業營運績效重要因素。而便利商店之店數代表著經濟規模效應，正是 7-ELEVEN公司優異競爭力背後的支撐因素。此外，期望本研究的結果，可以提供相關產業在經營決策上思考參考的架構與想法。

This study aims to identify the key factors for obtaining competitive advantage in the convenience store industry in Taiwan. The investigation is carried out in two phases. In the first phase, we characterize the distinct features of the convenience store industry, by comparing it with some other industries through exploring the financial statements of the leading company in each industry. Exploration results indicate that the convenience store industry has three essential features: positive cash flow (or low operating capital requirement), robust to economic recession, and oligopoly. In the second phase, we aim to identify key successful factors in the convenience store industry by comparing the first two leading companies (7-11 and Family Mart), through exploring their financial statements. Exploration results indicate that economical scale (number of stores operated by a company) is the key successful factor, which brings up two essential competitive advantages: purchasing price discount and brand effect. That is, the larger is the operating scale, the higher is the aggregate sales amounts, and the higher is the purchasing price discount—which as a result leads to higher gross margin. Moreover, the higher is the number of stores, the higher-valued is the brand, and the higher is customers’ preference in choosing convenience stores—which ultimately leads to higher sales amounts per convenience store.