👉 Background: Two weeks ago, 7-Eleven Japan announced the $1.7 billion acquisition of 7-Eleven Australia, including all 751 Aussie stores. It's understood 7-Eleven Australia's former owners were keen to sell because of declining petrol sales.

👉 What happened: Now, the new owners plan to expand the Australian store network faster than any other country. That's because Australia's population is growing faster than in other countries, including the United States.

👉 What else: They see bigger growth opportunities in merchandising, like food and drinks rather than petrol. In fact, more than 60% of 7-Eleven customers don't even buy fuel.

What's the key learning?

💡A growing population can mean a growing economy.

💡According to 7-Eleven, the population in Australia is forecast to grow at a faster pace than many other nations for the next 20 to 30 years.

• In Japan, there is a 7-Eleven store for every 5,780 people.
• In the US, there is a store for every 26,588 people.
• In Australia, there is a store for every 35,409 people.

💡Over the last few years, Australia's population has been growing by around 500,000 people per year. So, if Australia's population continues to grow, then 7-Eleven reckon the demand for both on-the-go snacks and petrol will keep growing too.