Philippines convenience-store market among the least mature in Asia

The Philippines convenience-store market is one of the most unsaturated in Asia.

The country had one store for every 35,000 people last year – a ratio similar to China – whereas in Indonesia, Malaysia and Thailand that figure ranges between 5500 and 10,000 people. In developed Asia, Japan and South Korea have around 1700 people to each store.

With per-capita income growing about 5 per cent a year in the Philippines, the number of convenience stores has risen by 21.5 per cent a year over the past five years.

Convenience-store sales have risen 20 per cent each of the past five years, double the rate of normal retail sales.

With the nation’s historic ties to the US, 7-Eleven leads the way in the Philippines. The chain is licensed by Philippine Seven, which owns 45 per cent of the 1995 stores and franchises out the rest.

Japan’s Nomura works through Robinsons Retail Holdings, which has exclusive rights to the Ministop chain for the Philippines.

Only 7-Eleven has anything of an e-commerce presence in the Philippines, says the report, delivering goods from the country’s largest online-sales platform, Zalora Philippines.