Hypermart chain Prince Philippines says it will open four new stores before the end of this year.
Prince Hypermart says the new stores will be in Visayas and Mindanao and will take its network to 28, all located in provincial areas where the company has strong relationships with traditional sari-sari store owners as well as direct to consumer business. It offers micro financing options for sari-sari owners.
Business development manager John Robertson S Go says the first new store will open in Gingoog City in Misamis Oriental.
“Sari-sari store business is relevant to the local economy because it directly helps Filipinos at the grassroots level in getting themselves out of poverty,” another company executive said.
The company already serves about 500,000 customers every day in its 24 existing stores
Prince says it has been adjusting its stock range in recent years as buying habits change. Where once customers were always seeking the least expensive products, there is now growing demand for premium goods.
“This means they have more money to spend. Their inventories have also upgraded,” the spokeswoman said.
