Move over 7-11, there’s a new player in town! There is always room for competition, even in the world of convenience stores. Yes, you read that right, Quick Trip has some serious competition from newcomer Foxtrot.
Foxtrot is a modern and organized convenience store offering fast delivery in 30 minutes and pickup in 5 minutes. It was established by Mike LaVitola and Taylor Bloom in 2014. These stores will undoubtedly be popular in pedestrian areas, but also with their online ordering convenience. This modern take on a convenience store offers the combination of a high-end convenience store with a digital first e-commerce platform. Sounds pretty glorious, right?
However, the original convenience store is safe as long as people are traveling and need to stop for gas or a bathroom break. If you’re from Texas, then you know and love Buc-ee’s, the Texas born chain. Buc-ee’s created its own in-store products, gaining a cult following among its customers. Yet Buc-ee’s does not have an online ordering or delivery option unless offered by a third party.
Foxtrot has raised $160 million in Series C funding and plans to open 25 locations in multiple cities in 2022. There are varying levels of funding. If a company achieves Series C funding, it is already successful and is looking to expand or develop new products through Investopedia.
According to Retail Dive, “About half of the new stores will be in Chicago, Dallas and Washington, where all of the 16 stores that Foxtrot currently operates are located,” LaVitola said. The tech-focused retailer also plans to start operations in Boston and Austin, and intends to open four or five new stores in each of those cities over the next year and a half, he said. declared.
Foxtrot is testing technological equipment that would allow customers to leave the store without stopping to pay at the counter. They plan to not go fully self-service, but as creator LaVitola said, “the more hours we can spend sampling, storytelling, and interacting with customers, the less [on] tasks that don’t add value, like payment, are great. »
Foxtrot redefines convenience by including carefully selected products. They aim to offer local popular products as well as pantry staples. They aim to make the generally unpleasant convenience store experience enjoyable. Hope they succeed.
