MINIMART CHAIN Alfamart is looking to open nearly 300 new stores this year as the retailer strengthens its nationwide footprint.
“I think this year we should be opening close to 300 stores,” Alfamart Philippines Chief Operating Officer Harvey T. Ong said during the Money Talks with Cathy Yang program on One News Channel on Tuesday.
Mr. Ong also said Alfamart will evaluate some of its branches with expiring leases as part of efforts to rationalize its store network.
“As we have opened a lot of stores, some of them are already very close to older stores. We may take this opportunity to rationalize some of these stores. We expect, at the very minimum, 250 net new store openings for the year. There’ll be 300 new stores minus at most 50 stores that will be rationalized,” he said.
He also said Alfamart is banking on its diverse product offerings to sustain growth.
“Our assortment is broader, and you see a lot of things that you won’t find in a convenience store like frozen meats. Our prices tend to be closer to the supermarkets as well,” he said.
“We are really more catered to subdivisions and residential areas. We are less of a convenience store and more of a compact supermarket,” he added.
As of end-2024, Alfamart had 2,400 stores in its nationwide network. The company opened its first store in June 2014.
Alfamart is part of the SM group’s retail food business. It operates as a joint venture between SM and Indonesia-based retail company PT Sumber Alfaria Trijaya Tbk. – Revin Mikhael D. Ochave
