Connect with us

Business

Another 700 7-Eleven stores to open across Thailand

Maya Taylor

Published

 on 

Flickr/Krista
image
image

The operator of the 7-Eleven chain of convenience stores has confirmed it will open another 700 shops in the Kingdom this year. According to a Bangkok Post report this morning, CP All plans to spend between 11.5 and 12 billion baht on expansion in 2021. The company has opened 155 new 7-Eleven stores so far this year, meaning there were 12,587 CP All-operated stores by the end of the first quarter of 2021.

Chief Financial Officer Kriengchai Boonboapichart says around 4 billion baht will be invested in new projects, subsidiaries, and distribution centres. Between 3.8 and 4 billion will be spent on store expansion, around 2.5 billion on renovating existing 7-Eleven stores, and around 1.4 billion on IT systems and fixed assets.

“We will continue to open new stores, but with a more cautious approach. There are many uncertainties, so we will select locations that can build revenue and have real demand from customers. Moreover, each location has to possess the capability to support our O2O (online-to-offline) retailing strategies.”

The Bangkok Post reports that 6,771 of the existing 7-Eleven stores belong to business partners, with 5,816 owned by CP All. 85% are standalone stores, while another 15% are in PTT gas stations.

2020 total reported revenue for CP All was 547 billion baht, down 4.3% from 2019, and net profit was down by 27.9% at 16.1 billion baht. During the first quarter of 2021, total revenue has dropped by 8.5% year-on-year, with net profit dropping by 54%. The fall is largely attributed to the Covid-19 pandemic, which has led to decreased consumption and purchasing power, as well as the drop in tourism.

Customers habits are also shifting to favour online shopping, and CP All is continuing to focus on offerings such as 7-Eleven Delivery, All Online, and 24Shopping.

SOURCE: Bangkok Post

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forum
🔔 Subscribe to our daily newsletter
📺 Subscribe / Join for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

A seasoned writer, with a degree in Creative Writing. Over ten years' experience in producing blog and magazine articles, news reports and website content.

Follow Thaiger by email:

Coronavirus (Covid-19)11 hours ago

Wednesday Covid Update: 4,886 new cases; provincial totals

Thailand11 hours ago

Thailand News Today | Substandard masks, PM to decide on Omicron, lingerie worker demands | Dec 1

Southeast Asia12 hours ago

Vietnam to welcome fully vaccinated tourists from Thailand this month

Sponsored20 hours ago

Hungry Hub Bangkok Rooftop Festival 2021

advertiseadvertise
Southeast Asia12 hours ago

Myanmar junta likely to be temporarily barred from the UN, along with Taliban

Coronavirus (Covid-19)12 hours ago

Hospital warns not all PCR tests properly detect Omicron variant

Thailand13 hours ago

Thailand’s exclusion from US Summit for Democracy could impact foreign investment

image
Join the conversation on the Thaiger Talk forums today!
Tourism13 hours ago

TAT predicts 500,000 travellers before 2022, 133,000 arrived so far

Thailand13 hours ago

Kanchanaburi park ranger reportedly stabbed co-worker, shot himself

Crime14 hours ago

Former Deputy PM Suthep indicted over construction contracts

Transport15 hours ago

New variant casts shadow over Thailand Motor Expo, concerns outbreak could affect the industry

Thailand15 hours ago

Thai porn industry, Forget about Pattaya nightlife, Hualampong station | Thaiger Bites | Ep.72

Transport17 hours ago

Cabinet sets aside over 5 billion baht to improve Bangkok’s public transportation

Drugs17 hours ago

Men arrested at Bangkok airport for allegedly smuggling drugs valued at 95 million baht

Thailand17 hours ago

Victoria’s Secret Thailand supplier faces labour abuse by laid off workers

Coronavirus World19 hours ago

Health officials say Omicron probably in the Netherlands prior to South Africa reports

Thailand3 months ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand9 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism9 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket9 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism9 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand9 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism9 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand10 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand11 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand11 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand11 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand11 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand11 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand11 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand11 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending