Convenience chain 7-Eleven is planning further expansion in the Philippines to take advantage of rising spending levels.

Local operator Philippine Seven Corporation (PSC) plans to increase the store count to 1000 by the year end from 800 in 2012.

The company said the Philippines needs to catch up with its Asian peers such as Japan with 11,000 stores, Thailand with 7000 and Taiwan with 5000.

With more and more Filipinos seeking convenience, 7-Eleven expects business to keep growing.

“We are open 24 hours and we provide that convenience,” said Jose Pardo, one of the incorporators of PSC.

In the Philippines, 7-Eleven competes with Mini-Stop, Finds Convenience Stores, Shell Select, Caltex Star Mart and FamilyMart which recently opened its first store in the country in Makati City.