MANILA - Philippine Seven, operator of 7-Eleven in the country, said Friday it remains "cautiously optimistic" despite the pandemic as it prepares data-based steps to reach consumers.
"We’re cautiously optimistic because of the moves we’re making. We’ve always prided ourselves on meeting our customers needs using data to understand them, to essentially speak to them," Philippine Seven president and CEO Jose Victor Paterno told ANC.
Customer count dropped by over half, while basket size increased as consumers visit stores less often, he said.
Philippine Seven earlier said it deferred pending expansion plans due to uncertainties brought by the COVID-19 pandemic. Paterno said they were willing to refund franchisees who have not broken ground yet.
The convenience store chain earlier reported a net loss of P390 milion in the first half.
Philippine Seven has 2,864 stores in the Philippines as of December 2019.