When it rains, 7-11 always gets out the cheap ass umbrellas that it charges 40-60 kuai for (> $5!), they were definitely into gouging. Compare this to Japan where you can always get an umbrella for 100 yen.
Konbini umbrellas in Japan are 300-500 yen. You need to find a 100 yen shop to get them for that price, although Japan's ruthless demographic, economic and deflationary spiral is solving this problem through the recent trend of 100 yen konbinis.