BIZ BUZZ: Super50 writes 30
Super50, a mass-market retail chain introduced by Robinsons Retail Holdings Inc. (RRHI) in 2019 or shortly before the pandemic, is bowing out of the local market.
A one-stop shop with products priced at only P50 each—the Pinoy version of the popular dollar stores in the United States and 100-yen stores in Japan—this budget retail format sells home and kitchen essentials, cleaning products, accessories and office supplies, among others.
“The peso is already [at] 62:$1. How can we sell anything at 50 (pesos)?” RRHI chair Robina Gokongwei-Pe said in a chance interview, confirming that the group is now unwinding Super50.
Earlier, RRHI likewise announced the shutdown of Korean retail concept NoBrand.
Moving forward, RRHI’s focus is to strengthen other core retail brands amid stiff competition. Hard discount chain O! Save Supermarket, for one, is rapidly expanding.
Gokongwei-Pe said the group would continue to run RRHI, which has recently gone back to private hands, as if it were still a publicly listed company.
“We’re keeping our independent directors, so that keeps us on our toes,” she said.
Is RRHI still in acquisition mode? “If there’s an opportunity,” she said.
The group is also cognizant of the opportunities and challenges presented by e-commerce.
“Customer experience has to be very good because that’s what online (channels) can’t give,” she said.
The group taps third-party platforms to sell its merchandise, except for three brands, whose websites RRHI itself handles: Robinsons Appliance, Toys R Us and Southstar Drug.
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