7-Eleven Thailand Not To Increase Prices

[webfact]

7-Eleven Not to Increase Prices

The operator of the country's largest convenience store chain insists it still has no plan to raise its goods prices after the end of the restriction imposed by the Commerce Ministry.

Managing director of CP All Public Company Limited, operator of 7-Eleven stores, Piyawat Satthaworakul, said none of suppliers has sought price hike so far although the Commerce Ministry's restriction against price rise will expire tomorrow.

Piyawat said a price hike must be only approved by the Commerce Ministry's Internal Trade Department and his company is not permitted to raise its goods prices on its own.

He pledged 7-Eleven stores will be the last to increase prices.

Piyawat said floods in the South have cost the company 600,00 baht in lost income a day as 15 of its branches in the region remain closed, but they should reopen in one day or two.

Piyawat went on to say his company plans to open some 450 to 500 new stores a year and the total number of its branches will reach 2,000 in two years.

He stated CP All last year achieved its revenue growth target of 10 percent.

CP All has renewed its contract with PTT Public Company Limited to continue operating 7-Eleven stores at the latter's 880 gas stations nationwide for another 10 years.

Its present contract with PTT will expire in 2013 and the renewal will take effect in the same year.

The firm also plans to add more 300stores at PTT service stations by 2015. All of those 7-Eleven stores will have PTT as franchisee.

-- Tan Network 2011-03-31

[Payboy]

He pledged 7-Eleven stores will be the last to increase prices.

Thanks - I think I'm going to go get me a Slurpee.

[asiawatcher]

Love them or hate them - they are convenient to have. Their prices are not exactly outrageous.

[Bagwan]

Has anybody got figures for exactly how may stores are actually owned by 7-11? My two local ones were Mum and Dad stores until they converted to 7-11's - at a cost of 100K baht to themselves. There are another two nearby which are separated by a distance of about 30 yards. Is their slogan 'And tomorrow the World'?

[canardo]

Has anybody got figures for exactly how may stores are actually owned by 7-11? My two local ones were Mum and Dad stores until they converted to 7-11's - at a cost of 100K baht to themselves. There are another two nearby which are separated by a distance of about 30 yards. Is their slogan 'And tomorrow the World'?

Wiki says:

Thailand

The franchise in Thailand is the Charoen Pokphand Group, which in turn grants franchises to operators. There are 5,790 7-Elevens in Thailand, half of which are in Bangkok, making Thailand have the 3rd largest number of stores after the US and Japan.^[18] Charoen Pokphand Group plans to open 450 to 500 new outlets in 2011, bringing its total to reach 6,200 or 6,250. It will create about 5,000 new jobs.^[21]

Edited March 31, 2011 by canardo

[CPT]

7/11 has to have price increases approved by the government??? Why is this?