Alfamart Philippines targets 3000 stores
Indonesian c-store format Alfamart is making steady progress in the Philippines after local retail giant SM Group entered a joint venture.
Alfamart operates some 8500 convenience stores in Indonesia and now the brand is expanding into Philippines, where the c-store sector is still in its development stage.
SM Supermarkets president Joey C. Mendoza told the Philippine Star newspaper that at the end of 2014, his company had opened 22 Alfamart branches after the two companies partnered in July. The first store in Trece Martires in Cavite, near Manila.
Another eight have opened already this year.
Alfamart Philippines stores stock basic groceries, foods, medicines and convenience foods 24 hours a day.
SM expects strong growth during the next five years, believing critical mass for the chain is between 1000 and 3000 stores.
Alfamart Indonesia is providing SM Group with experience and advice on the format’s expansion, stocking and rollout.
Each store ranges from 150 sqm to 300 sqm in size and costs a maximum of P30 million (US$681,000) to open.