7-Eleven Philippines Celebrates 4,000th Store Milestone: A 40-Year Journey of Growth and Innovation

 At the 7-Eleven 4000th store milestone press conference held on October 15, 2024, at the Sakura and Momiji Function Rooms of Hotel Okura, Newport District, Pasay City, Mr. Jose Victor Paterno, President and CEO of Philippine Seven Corp., and Mr. Lawrence De Leon, Head of Finance and Accounting Services Division and Investor Relations Officer, shared the company’s achievements and future plans.

A Remarkable Journey: 40 Years of Convenience
Mr. Paterno kicked off the event by reflecting on the company’s extraordinary journey since its inception in 1984. He shared the story of how his father and two partners started 7-Eleven in the Philippines with a modest capital of ₱3 million. The business faced tough challenges in its early years due to high interest rates and economic instability but steadily grew to reach the 4,000-store milestone today.

"It took us 40 years—10 years for the first 40 stores, another 10 years for the next 200, and then 10 years for the next 1,000. And now, within the last 10 years, we've added 3,000 stores," Paterno proudly remarked, emphasizing the exponential growth of the brand.

Paterno also touched on the company's resilience during the pandemic, acknowledging that the Philippines had one of the most challenging COVID-19 situations globally. He noted how 7-Eleven's culture of integrity and commitment to service helped the company navigate the crisis and emerge stronger. “We financed our franchisees and gave them loans so they could stay. Both employees and franchisees remember that time and how we stuck together, which is why we have the results we have today,” he said.

Market Expansion and Future Plans

Lawrence De Leon provided more detailed insights into the company's current expansion strategy, highlighting the growth outside Metro Manila and into underserved areas. He revealed that of the 450 stores targeted to open in 2024, 270 had already been established by the end of September. The company plans to continue its aggressive expansion, with a goal of opening at least 500 new stores in 2025.

De Leon explained that the expansion is driven by shifts in consumer behavior post-pandemic. "Most of the stores we’re opening now are in residential clusters, reflecting the changes in how people shop and live. However, we are also seeing a resurgence in growth in commercial business districts (CBDs), so new stores are also anticipated in those areas," De Leon noted.

When asked about the challenges of expanding into more remote areas, particularly in Mindanao, Paterno candidly acknowledged the difficulty. “Western Mindanao is probably the most challenging area to push into,” he stated, but the company remains determined to penetrate these regions, driven by logistical improvements and the rising demand for convenience stores in non-urban locations.

Digital Transformation and Innovation
Mr. Paterno also touched on the company’s efforts in digitalization, including the introduction of cash recycler ATMs and digital payment solutions such as GCash. These innovations aim to improve customer experience, enhance store security, and provide essential financial services in smaller cities and rural areas. “We have very few competitors outside of Luzon, mainly because of logistics. Convenience stores need daily deliveries, and we’ve built the supply chain to support that growth,” he explained.

A Strong Corporate Culture
Both executives emphasized that 7-Eleven’s growth is deeply rooted in its strong corporate culture, which Paterno attributed to his father’s legacy. "The culture is the bedrock of everything. It’s about taking care of one another, having parties, Christmas celebrations—because culture is what drives the company forward," he said.

The 4000th Store Celebration

As the company reaches its 4,000th store, the milestone marks not just a numerical achievement but also a testament to 7-Eleven's impact on the everyday lives of Filipinos. With a robust market development plan, a strong focus on digitalization, and a commitment to preserving its corporate culture, 7-Eleven looks forward to continued exponential growth in the coming years.

“Thank you for being part of this journey. It took us 40 years, but now we’re looking forward to the next 40—and beyond,” Mr. Paterno concluded.

For full details, you can watch here