outbrain
Close  

10,000 7-Eleven stores in PH by 2025 eyed

/ 12:20 AM July 31, 2015

The Philippine licensee for 7-Eleven convenience stores aims to build 10,000 stores nationwide in 10 years to sustain leadership in this 24/7 retailing segment while embracing new opportunities in e-commerce.

“We are expanding in Metro Manila, building even as everybody is building along with us. Our aim is to maintain our market share in Metro Manila and continue to expand in provinces,” Philippine Seven Corp. (PSC) president Victor Paterno told a briefing ahead of the retailer’s annual stockholders meeting yesterday.

ADVERTISEMENT

PSC aims to grow both store network and revenue by about 25 percent a year, which will bring its nationwide network to 10,000 in 10 years, he said.

“The big story this year will be digital products,” Paterno said. After launching the store’s loyalty card in 2013, this program captures 25 percent of total sales with two million registered accounts.

FEATURED STORIES

A new application will be released by the company by September as PSC works with a number of digital payment solutions providers to “put together something very interesting,” Paterno said.

During the stockholders meeting, Paterno said financial technology was developing at a remarkable pace, presenting unique opportunities for convenience store (CVS) operators in unbanked markets, especially areas with significant remittance volumes.

“Click and collect e-commerce is another global trend that favors the CVS channels’ accessible locations and efficient logistics. In Taiwan, for example, 50 percent of e-commerce parcels are picked up at convenience stores,” he said.

On store expansion, Visayas and Mindanao are the areas where PSC expect to grow the fastest. The company has invested in warehousing facilities on these islands to facilitate the rollout of stores.

“Our view is that Metro Manila is getting increasingly crowded and with four players, it will be difficult to make money where everybody is,” he said.

PSC ended the first semester with 1,405 stores, expanding by 25.3 percent year-on-year. Franchised stores accounted for 61 percent of the total. By next year, it expects to breach the next milestone of 2,000 stores.

ADVERTISEMENT
Subscribe to Inquirer Business Newsletter
Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: 7-Eleven, branch, Business, chain, commerce, convenience store, e-commerce, Market, Products, Retail, sales, stocks, Store
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.