7-Eleven once dominated the convenience store industry by making shopping faster and easier than anyone else. But as consumer habits changed and cigarette sales declined, competitors like Wawa, Buc-ee's, and Sheetz adapted by focusing on food and customer experience. Instead of reinventing its stores, 7-Eleven spent billions acquiring competitors and took on significant debt. Today, the company is closing more than 1,000 stores, showing how quickly industry leaders can fall behind when they stop evolving.
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