Circle K has easily been more valuable as a stock whatever people's feeling are on where it it ranks as a convenience store. 7-Eleven in Canada is often in the same locations it has been since the 1970s. Some of these locations are small, in need of physical updates, owned by third parties who sometimes have other plans for the site and some have parking spaces that are too few when shared with other tenants. Not every store closure is about retail theft.
Having said that, store theft is out of control and not just at convenience stores. It is everywhere. It is becoming more brazen and sometimes includes violence. To most citizens it seems to happen with impunity. Someone picked up by the police is often released and back at it again. It is like to repeated drunk drive who is released and even when their license is taken away, does it again and again till someone if hurt.
The rate of theft post pandemic has risen dramatically. It is concurrent with poverty levels, addictions and mental health issues and homelessness. It is likely that those areas will take time and effort and many years to overcome. Only disaster or war comes close to the devastation wrought on so many over a widespread area. And like post-WWII, only a national plan focused on the displaced will come close to ending it.
Some crime numbers have dropped over the years, even in cities. In some rural areas, they have dropped to historic lows. Hard as it is to believe, there was more violence years past. What has really taken off is property crime and store theft. Even 7-Eleven with industry leading security has not been able to withstand the theft in their stores. No store can really. Despite claims by some that this is just corporate chicanery, most realistic observers have seen the helplessness of clerks and cashiers as people walk out laden with loot. Whatever sympathy for those who might by doing this is lost when yet another store closes or a clerk hurt by those in a rush to get out.
Those who believe that any and all business is bad will not care about a 7-Eleven closing. Some seemed to think it impeded small independent stores. This, however, ignore the fact that 7-Eleven innovated in Manitoba by being open 24 hours, seven days a week against forces that wanted them closed before 11, on Sundays and holidays. No store that was family owned was challenging that. Only those who have never had a need overnight or holiday thinks stores closed when you need a tin a cat food for a cat who is in full hunger yowl think this was great times.
Convenience stores have continued to be under full assault. In some neighbourhoods, it has only gotten worse. If 7-Eleven intends on expanding via franchising in Winnipeg, it is likely not going to do it in areas that they abandoned unless there was a dramatic turn in shoplifting. While the police have made some key arrests, the proliferation of crime has been only overcome when with drastic security measures such as ID entry only for entrance. The most we have seen from grocery stores is the closure of second entrances all over Winnipeg starting around Covid.
It is unlikely that 7-Eleven would only allow entry via being buzzed in. That would entail a whole bunch of people who are banned from entering a whole bunch a businesses. In many parts of the U.S., 24 hour stores lock their doors and only serve through a slot in the front. In the past, they used to have the cashier locked in a booth but that doesn't protect the items in the store. In fact the booth sometimes didn't protect the occupant inside.
Some point to the hands off approach inside stores that was adopted to stop employees or customers from being hurt and liability. In Winnipeg, there have been a number of court cases where employees and owners and have tried to stop theft resulting in injury. On the side of the ledger, there have been employees injured and sexually assaulted even when they did nothing. Just this week a worker at a cannabis store was not only robbed but sexually assaulted.
Despite all that has been happening, there have been a number of convenience stores opening in the city, including downtown. Property crime has been around as long as human have been around. There is a reason keys and locks were invented so very long ago.
It is unknown whether any retail will ever go in the 7-Elevens that are closed around the city. At least not for a while. I'm sure the owners would gladly sell to a convenience store if they dared to open there. The truth is between break and entering and store theft, it could be some neighbourhoods just won't have any commercial businesses willing to move into the area.
The trend of store theft is world-wide. Winnipeg isn't just the special case. Having said that, the only way to reduce the issue is to keep focusing on making it difficult for break and enters, store thefts and the like to happen. Some states are making an aggregate of $5000 over 180 days the marker for jail time. That alone won't do it but a few measures to avoid the non-stop revolving door would be meaningful. Meanwhile, 7-Elevens and other stores will close.
