Business
Another 700 7-Eleven stores to open across Thailand
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
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Scott D. Baran
Thursday, June 3, 2021 at 9:13 am
The key takeaway or “golden nugget” that I focused upon is just how important online delivery has become exponentially enhanced throughout the Pandemic.
EdwardV
Thursday, June 3, 2021 at 9:42 am
Reminds me of the Simpsons’s episode where Bart walks into the mall to get his ear pierced. Every other store is a Starbucks. When he walks out 5 minutes later, he’s drinking a Starbucks and every store in the mall is a Starbucks.
Simon Small
Thursday, June 3, 2021 at 11:25 am
Funny.
Only a couple of days ago one of the many informed readers commenting here said that 7-11 stores were closing “every day”.
Frank
Thursday, June 3, 2021 at 12:46 pm
Lol and so many closed over the last year, they probably going to open them in pattaya hahahaha where you even have 2 next to each other all the time, insane.. Chiang rai can use a few…
Toby Andrews
Thursday, June 3, 2021 at 1:20 pm
One of the best thing that happened in Thailand for the tourists was the opening of Seven/Elevens.
Before Seven/Elevens there were no prices on food in Thai stores and tourist were overcharged.
I remember those days and I took notice what Thais paid, and insisted I paid the same.
It was the only way . . .
Maverick
Friday, June 4, 2021 at 7:11 am
This expansion will do wonders for the health of young Thais causing obesity and addiction to junk food and sugar
Craig
Friday, June 4, 2021 at 11:27 am
Yes, I agree they should be more cautious in the location opening of new stores. Maybe 4 on the same block is ok but 5+ is going a bit far.