The operator of 7-Eleven convenience stores in the country is set to add 700 more locations throughout this year.
Plans are in place for the company to open a total of 700 new convenience stores during 2021, the same amount as last year. Currently on target for this total, 155 new 7-Eleven stores were opened in the first quarter of this year.
“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,” Kriengchai Boonboapichart, Chief Financial Officer of CP All Plc said. “Moreover, each location has to possess the capability to support our O2O [online-to-offline] retailing strategies.”
CP All operated 12,587 branches of 7-Eleven at the end of the first quarter this year. Of the total, 6,771 stores belong to business partners and 5,816 stores were owned by CP All. Moreover, 85 per cent of the stores were standalone with 15 per cent located in PTT petrol stations.
