President Chain Store, FamilyMart set sales records in 2016

The operators of convenience store chains 7-Eleven and FamilyMart both posted record high sales in 2016, boosted by growth in revenues from diversified or new product lines, according to the two companies' latest sales results.

President Chain Store Corp. (????), which operates the 7-Eleven chain, announced on Tuesday consolidated sales of NT$215.36 billion (US$6.76 billion) in 2016, up 4.80 percent from the previous year, after posting sales of NT$18.01 billion in December.

FamilyMart Co. Ltd., which owns and operates the FamilyMart chain, also saw sales grow 4.8 percent for the year to a record NT$60.567 billion after a strong December in which sales rose 9.1 percent year-on-year to NT$5.10 billion.

President Chain Store said the higher sales resulted from growth in the businesses of other subsidiaries, including home delivery service provider President Transnet Corp. and online bookstore Books.

It also saw strong sales of its instant 7-Coffee and other fresh food products in its 7-Eleven outlets in Shanghai, and the core 7-Eleven business in Taiwan also posted growth, the company said.

President Chain Store expected the growth to continue in January with a series of promotional campaigns set to take advantage of the Lunar New Year holiday, which is a peak spending period.

FamilyMart credited its sales growth mainly to the big investment it has made in renovating its outlets to give customers places to sit down and relax, boosting sales of freshly prepared items such as coffee.

Freshly prepared products saw sales grow 10 percent in 2016 and accounted for 20 percent of the chain's revenues, FamilyMart said on Monday, when it announced its sales for 2016.

Other factors boosting FamilyMart sales included the chain's e-payment services and the introduction of frozen food sections in some of its outlets consisting primarily of Tanhou brand organic products, according to the company.

As of July 2016, 7-Eleven had 5,125 outlets in Taiwan, while FamilyMart had 3,003.

Source: Focus Taiwan News Channel