President Chain Store Corp (
The Web site, www.live.net.tw, is a joint venture of President Chain Store and CD distributor Music Global Village (
"The main reason President Chain store set up an online CD shop is to bring more foot traffic into its stores," said Jeffrey Hanson, equities analyst at Credit Suisse First Boston.
The additional customers will mean additional business, as the Web site's customers may end up buying other products from 7-Eleven, Hanson said.
When asked why President Chain Store wished to set up the online music shop, a company official said the venture would allow 7-Eleven to sell more CDs while maximizing its existing shelf space.
"We are selling CDs in our stores now, but we do not have that much space for a wide selection," the official said. "By setting up a online CD shop, we can provide customers with better service."
Hanson said 7-Eleven would earn a commission from every CD sale, and the chain store's computerized point of sale system would make collection of payments easy.
The system helps to keep track of inventory and when purchases are made, Hanson said.
Industry observers said that the marriage of an online CD shop and a convenience store made sense, as Taiwan's consumers are concerned about the safety of making payments over the Internet.
The joint venture between President and Music Global Village would allow consumers to pay in cash. According to an official from Music Global Village, the pair have been longtime business partners.
Officials from both companies declined to reveal the exact terms of the joint venture, saying "More details will be revealed on Friday."
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