From convenience stores to quick-service restaurants: Ready-to-eat food a big growth area for DFI Retail Group
The operator of 7-Eleven in Singapore, Hong Kong, Macau and Southern China says a growth in ready-to-eat food can mitigate cigarette sales decline
WITH its top line stubbed by declining cigarette sales, DFI Retail Group’s group chief executive Scott Price is eyeing a growing appetite for ready-to-eat food – which he believes can transform its chain of convenience stores into “quick-service restaurants”.
DFI Retail Group, which operates the 7-Eleven brand in Singapore, Hong Kong, Macau and Southern China, is moving towards driving traffic to its stores for profit growth. And Price said the chain of convenience stores can compete in the quick-service restaurants market.
“We are seeing, in essence, the opportunity for our 7-Eleven (stores) to become convenient quick-service restaurants,” said Price on Friday (Aug 2), after the group posted robust first-half underlying profit driven by its food and convenience segments.
