You could also simply use the arepack tool that's part of the atool suite of tools. It's typically a yum install atool or apt-get install atool to install it. Once this is available you can simply do this:
$ arepack -e -F 7z *.zip
This will convert all the .zip files as .7z files. You'll still need to delete the *.zip files, but that can be done simply like so:
$ rm -f *.zip
Additional arepack options
Options:
-e, --each execute command above for each file specified
-F, --format=EXT override archive format (see below)
-O, --format-option=OPT give specific options to the archiver
-D, --subdir always create subdirectory when extracting
-f, --force allow overwriting of local files
-q, --quiet decrease verbosity level by one
-v, --verbose increase verbosity level by one
-V, --verbosity=LEVEL specify verbosity (0, 1 or 2)
-p, --page send output through pager
-0, --null filenames from standard in are null-byte separated
-E, --explain explain what is being done by atool
-S, --simulate simulation mode - no filesystem changes are made
-o, --option=KEY=VALUE override a configuration option
--config=FILE load configuration defaults from file
Archive format (for --format) may be specified either as a
file extension ("tar.gz") or as "tar+gzip".