LISTED retailer MerryMart Consumer Corp. is banking on its mini-mart project to help the transformation of sari-sari or small family-owned stores, its top official said.
“We have extensively observed and analyzed the sari-sari store industry nationwide, and we are convinced that the most effective long-term solution for these numerous sari-sari stores to succeed is by transitioning into mini-marts,” said MerryMart (MM) Chairman Edgar J. Sia II during a statement to the local stock exchange on Tuesday.
“They went from selling items through a small window to establishing a grocery mini-mart where their loyal customers, also known as ‘suki’, can now enter their store. This is similar to the setup of their modern and well-known competitors who have recently opened mini-marts near their traditional sari-sari stores,” he explained.
MerryMart has just announced the opening of its 100th store, according to Mr. Sia’s statement.th
This mini-mart is a member of MM Wholesale and is supplied by them. The opening of this new store is part of a project by MM Wholesale that aims to transform sari-sari stores into mini-marts. These mini-marts can purchase their grocery inventory through the MM Wholesale application.
According to MerryMart, the MM Wholesale app boasts over 180,000 registered users.
MerryMart’s smaller convenience stores can be found in multiple areas throughout Manila, Pangasinan, Nueva Ecija, Tarlac, Bulacan, Cavite, Laguna, Rizal, and Bataan.
According to its website, MerryMart runs retail stores that specialize in supermarkets and essential household items.
During the first six months, MerryMart saw a 24.8% increase in net profit, reaching P40.24 million, and a 29% growth in revenue, amounting to P3.7 billion.
On Tuesday, the local market saw a rise of one centavo or 0.88% in the stock price of MerryMart, closing at P1.14 per share. – Revin Mikhael D. Ochave