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NEW YORK -- 7-Eleven Inc. helped kick off the first annual Prepaid Markets Expo, a three-day event held here, which ends today. The event addressed marketing and product development in prepaid calling cards, wireless products and Internet access.
Tim McCallum, director of services at the Dallas-based convenience store chain, said that 7-Eleven is the number-one c-store chain in prepaid wireless sales, and that AT&T is the chain's ninth-largest vendor. "We sell more AT&T products than we do Miller Beer or Coors Beer," McCallaum said.
He told attendees that the customer of prepaid products has changed, and is no longer predominantly "credit-challenged, " budget-conscious and very young. Business among senior citizens has tripled in recent years, he said. Prepaid products earn an average transaction of $35, quite a boost considering 7-Eleven's average ring otherwise is $4.
The expo attracted 1,500 retailer and supplier attendees, according to Kristy Perkins, conference director at the Institute for International Research, the event organizer, which plans to hold the event annually in New York.