Philippine Seven Corp. (PSC), the listed franchise holder of 7-Eleven convenience stores in the Philippines, is expecting to cap off 2014 with 1,250 stores most of which will be established in Luzon and Visayas.
As of end-September, PSC has already 1,170 stores in the two regions, accounting for a 60 percent market share.
The leading convenience store chain said its “number of stores grew by 20 percent to 25 percent annually.”
The 7-Eleven local licensee aims to expand its store network to 2,000 in the next three to four years to strengthen its foothold as the leading convenience store chain in the Philippines.
Meanwhile, major companies are currently fine-tuning their own strategies to enter into the convenience store sector , mostly via joint ventures with foreign convenience brands.
Among the strong players include SM’s Alfamart, Ayala Group’s FamilyMart, Villar Group’s All Day, Puregold Price Club Inc’s Japanese import Lawson, Gokongwei family’s Ministop, and the US-based Circle K.