CP All stated to the public that the increasing profit and income was from an increase
Reporting a record income of 399 billion Baht in 2023, 711 in Thailand has announced plans to expand to over 700 more locations.
The Seven-Eleven business profit statistics for 2023 were made public by CP All Plc. on February 23, 2024. The convenience stores generated an overall revenue of 399 billion baht, with a gross profit of 112 billion baht, a 16.1% increase from the previous year.
CP All stated to the public that the increasing profit and income was from an increase in average sales of 5.5% or 80,837 baht daily on average in each 7-11. It was reported that each customer spent 83 baht on average per bill and each store had daily 965 customers on average.
This result was from new strategic plans to expand the customer base with new products and promotions, according to CP All.
Furthermore, CP All reached customers with other means such as 7-11 vending machines, 7-Delivery application, and 707 new 7-11 branches nationwide in 2023.
This approach could create opportunities from continuously improving economic conditions and increasing the numbers of foreign and Thai customers in 2023.
7-11 had additional income of more than 23 billion baht from space rental, contracts to be a business partner with CP All, and other business strategies.
However, 7-11 had distribution costs and administrative expenses of 115 billion baht, or increasing from the previous year by 12.1% for employees’ welfare, salary, utility bills, advertisements, and other miscellaneous expenses.
Even with higher expenses deducted, however, the profits were still solid as there was a total of 26 billion baht, or increasing from the previous year (2022) of 25.5%, which had a net profit of 15 billion baht, increasing from the previous year (2021) of 35.1%.
In 2024, CP All anticipated for the business trends of 7-11 that there was a plan to expand new 7-11 stores with more than 700 branches aimed at local levels, tourist attractions, and other potential locations to reach more customers. Moreover, CP All planned to establish new branches in Cambodia and Laos in the future.
