7-Eleven ramps up VisMin push

Philippine Seven Corp. (PSC), the exclusive licensor of 7-Eleven stores in the country, is doubling down on its expansion in the Visayas and Mindanao as stronger sales in the two regions continue to outpace other markets.

PSC chair Jose Victor Paterno said the convenience store giant remains on track to open about 500 new stores this year, with a larger share of those branches earmarked for Visayas and Mindanao.

“We overweight on VisMin because sales there have been stronger,” Paterno said in an interview.

He said the company’s expansion strategy has leaned toward the two regions since the end of the Covid-19 pandemic, although it continues to add stores across Luzon.

The aggressive push also reflects a race to secure strategic locations ahead of competitors while maximizing the company’s existing logistics network.

“There’s also kind of a bit of a land grab to get there before your competitors do because you have the logistics. You’re filling in logistics that’s already there,” he said.

Paterno did not provide specific figures on VisMin’s growth but described the increase as “high,” underscoring the region’s importance to PSC’s long-term expansion.

He said store density still has significant room to grow, with the company currently operating about one store for every 5,000 people in central business districts, one for every 10,000 people in cities and one for every 20,000 people in provincial areas.

Beyond store expansion, PSC expects business momentum to improve in the second half of the year, which is traditionally stronger because of the holiday shopping season.