Malaysia’s 99 Speedmart starts in Singapore
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Malaysian convenience-store chain 99 Speedmart has opened three mini-market stores in Singapore.
According to IGD, the 99 Speedmart stores in Singapore follow the same concept as Malaysia’s stores and range in size from 250 to 500sqm. They trade from 10am to 10pm daily.
Besides normal grocery items, shoppers also can find Malaysian products displayed closer to the back of the stores.
In Malaysia, 99 Speedmart operates more than 1500 grocery stores.
“The retailer’s success is driven by low prices, carrying a narrow range of top-selling brands and great store visibility,” explains IGD senior retail analyst Soo-Eng Tan. “A quick look into its flagship store in Singapore suggests that it is pursuing the same strategy there.”
99 Speedmart in Singapore aims to expand its retail network further this year. The company has acquired sites in commercial areas and light industrial parks.
Questions & Answers
Q.How many stores has 99 Speedmart opened in Singapore so far?
How many stores has 99 Speedmart opened in Singapore so far?
The Malaysian convenience-store chain 99 Speedmart has opened three mini-market stores in Singapore. These new outlets mark the company's initial venture into the Singaporean market.
Q.What is the typical size of a 99 Speedmart store in Singapore?
What is the typical size of a 99 Speedmart store in Singapore?
According to IGD, the 99 Speedmart stores in Singapore are mini-market format and range in size from 250 to 500 square metres. This size range is consistent with their Malaysian counterparts.
Q.What is 99 Speedmart's strategy for success, according to an expert?
What is 99 Speedmart's strategy for success, according to an expert?
IGD senior retail analyst Soo-Eng Tan explains that the retailer's success is driven by low prices, carrying a narrow range of top-selling brands, and great store visibility. The company appears to be replicating this strategy in Singapore.
Q.Where does 99 Speedmart plan to open more stores in Singapore?
Where does 99 Speedmart plan to open more stores in Singapore?
The company has acquired sites in commercial areas and light industrial parks in Singapore. This indicates their focus for expanding their retail network further within the city this year.
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