need for convenience in shopping for daily necessities. The 24-hour opening policy allows convenience shops to reach out to a larger group of consumers. First, the policy caters to the shopping needs of consumers who work shifts or have irregular working hours. Secondly, the policy caters to the increasing number of Singaporeans who keep late hours. A 2005 economic review by Price Waterhouse Coopers (PWC) reported that 54% of Singaporeans stayed up past midnight. 7-Eleven 7-Eleven began the trend of convenience shops in Singapore when it opened its first shop in 1982 by Jardine Matheson Group, under a franchise agreement with Southland Corporation of the United States. Dairy Farm International Holdings acquired the chain from Jardine Matheson Group in 1989. The number of 7-Eleven outlets continued to increase in 1984 while other chains were having difficulty expanding. One Plus was unable to expand due to the shortage of good sites. The original owners of the Myshop franchise, which had seven outlets, sold out to one of its suppliers due to a lack of demand. In 1985, 7-Eleven faced difficulty in finding favourable locations and failed to meet its one-shop-a-month target. The situation improved in 1986 with a new Housing Development Board (HDB) tendering system, which allowed 7-Eleven to secure shops without having to bid too high a price. 7-Eleven shops are open 24 hours a day, seven days a week, including Sundays and public holidays. This 24/7 policy was seen as the reason that gave 7-Eleven its edge over its competitors. In 1990, there was a rise in the number of shop thefts in 7-Eleven. The shoplifters were usually teenagers who stole small items such as chocolates, cigarettes and beer. In response to the increase in the number of thefts, 7-Eleven stepped up security measures, which successfully lowered the crime rate by 60%. Cheers Started in 1999, Cheers is owned by local corporation NTUC FairPrice. Cheers has adopted 7-Eleven's 24/7 model and taken similar security measures to prevent cases of shoplifting. Convenience shop owners seeking franchising seem to prefer Cheers over 7-Eleven, probably due to its cheaper franchise fee. South Africa In South Africa's black townships spaza shops sell small goods, often out of the proprietors' homes. However these businesses face competition from large chain stores. Spaza shops owned by immigrants have also become a source of tension in townships. In white, Indian and Coloured areas, the cafe (often pronounced