In 2018, convenience stores continued to focus on improving their offer of fresh food, hot meals and beverages. Indeed, convenience stores are now a popular option for dining in or taking out food, especially among workers in high traffic business districts.
The potential of existing convenience store operators to expand their footprint has still not yet been fully realised as some players are facing ownership issues and changes. In 2018, Puregold decided to exit the channel as it is selling its stake in Japan’s Lawson convenience store banner.
Convenience stores will continue to post strong growth over the forecast period. Ongoing urbanisation and the emergence of new business districts will continue to create demand for 24-hour retail services.
Alfamart continues to open an average of 110 stores every year in the Philippines since having opened its first outlet in the country in 2014. Filipinos consider Alfamart as a sort of mix between a convenience store, sari-sari store and a supermarket.
The channel’s leading chain, 7-Eleven, is focusing on digital aspects such as digital payment systems and e-commerce. According to 7-Eleven, it noticed that its e-money services, which include the CLiQQ app, GCash, PayMaya, Alipay and Coins.
According to Robinsons Retail Holdings (RRHI), Ministop is one of its fastest growing retail formats, with the company thus increasing its stake in Ministop in 2018. RRHI made this announcement after Mitsubishi Corp divested from the venture, selling the equivalent of an 8% stake to RRHI.
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Discover the latest market trends and uncover sources of future market growth for the Convenience Stores industry in Philippines with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Retailing market research database.