The rise of convenience stores | Bangkok Post: learning

Learning > Learning From News (เรียนภาษาอังกฤษจาก ข่าวบางกอกโพสต์)

The rise of convenience stores

Level switch:
  1. Advanced
- +

Rising farm & worker incomes will make convenience stores like 7-11 the retail sector rising star next year. Many new stores planned with staff speaking many languages. 



Click button to listen to Seven Eleven Expansion download

Economics

7-Eleven operator ready for battle

CP All preps for coming store wars
6/12/2012
Pitsinee Jitpleecheep

CP All Plc, the operator of 7-Eleven convenience stores, will adopt various strategies to do battle with the Family Mart, Lawson, Mini Big C and Tesco Express brands next year.

Central Retail Corporation's Family Mart, Saha Group's Lawson, Tesco and Big C are all trying to attract more customers

They all want to latch onto the higher purchasing power of customers and cash in on the bigger customer base.

When Asean becomes a single market due to the implementation of the Asean Economic Community in 2016, more foreign investment and tourists are likely to come to Thailand.

At a seminar on "Thailand's Retail Outlook in 2013" earlier this week, retail gurus agreed that convenience stores are the rising star in the retail sector for expansion next year.

...the increase in the minimum wage to 300 baht throughout the country and higher incomes from rising farm product prices will increase purchasing power.

These factors will stimulate all convenience store operators to speed up their investments next year.

Experts ... forecast that at least 1,000 new convenience stores from all chains will be opened in 2013, higher than the average of 750-800 in previous years.

...CP Group All is planning to open 540 new 7-Eleven stores next year, up from 450-500 new outlets this year.

...Customers will see ... many big changes at our 7-Eleven convenience stores next year, from product merchandise to premium offerings...

...More international brands will be available at 7-Eleven stores, particularly at tourist destinations where staff who can speak Chinese, Japanese or English will communicate with customers.

... Thai households are smaller than in the past and customers have less time and loyalty, so the company will offer more products responding to their requirements, particularly their interest in health and the environment...

Experts...estimate the convenience store segment will grow by 15% next year.

To respond to this accelerated pace of expansion, 7-Eleven is planning to spend about 1 billion baht to open two more distribution centres. One of the centres will be on a 100-rai plot in Samut Sakhon province, while the other is expected to be set up on a 50-rai plot in Chon Buri.

(Source: Bangkok Post, Economics, 7-Eleven operator ready for battle, CP All preps for coming store wars, 6/12/2012, Pitsinee Jitpleecheep, link


Retail Industry Vocabulary
 
convenience store - small stores like 7-11 that are located near where people live and work ร้านสะดวกซื้อ (See Wikipedia)
convenience - the quality of being suitable for your purposes and needs and causing the least difficulty ความสะดวกสบาย

retail - to sell directly to the public for their own use ขายปลีก (See Wikipedia)
retail industry

sector
- a part of a country's economy or business activity ภาคเศรษฐกิจของประเทศ (See Wikipedia)
retail sector

operator - a company that does some business
7-Eleven operator

battle - fighting for something (for example, businesses fighting to get customers and make money)
ready for battle - ready to fight for something; ready for a fight
do battle with

7-Eleven operator ready for battle

preps - prepare, get ready (to do some activity)
CP All preps for coming store wars

strategies - long-term plans for success in competition กลยุทธ

adopt - to accept or to start using something new นำมาใช้
adopt strategies

various - many different things; a diverse range of things  ซึ่งแตกต่างกัน, หลากหลาย, ต่างชนิด, ต่างประเภท,
adopt various strategies

brands - products with well-established names that people remember, that create a certain image and expectations about the product

CP All Plc, the operator of 7-Eleven convenience stores, will adopt various strategies to do battle with the Family Mart, Lawson, Mini Big C and Tesco Express brands next year.

attract - to cause someone to be interested in something ดึงดูดความสนใจ
attract customers - make customers interested in your product or store
trying to attract more customers

Central Retail Corporation's Family Mart, Saha Group's Lawson, Tesco and Big C are all trying to attract more customers

cash - money เงินสด

purchase - to buy something
purchasing power - the ability to buy things (because you have the money)
the higher purchasing power of customers

latch onto - grab and hold tight; attach itself too something (here meaning to get something) 
latch onto the higher purchasing power of customers

base - a group of people on which someone's power depends
customer base - the customers who regularly shop at your store and buy your products (the foundation of your business)

cash in on - act to gain something from some advantage you have
cash in on the bigger customer base

They all want to latch onto the higher purchasing power of customers and cash in on the bigger customer base

single - one only
single market - only one market
when Asean becomes a single market

implementation
- making a plan into reality; actually do or carry out a plan; execution of a plan, making sure that something that is planned actually gets done นำ (แผนการ) มาบังคับใช้
implementation of the Asean Economic Community in 2016

investment - taking your money and putting it into projects to make a profit or earn interest (buying stock shares, bonds, real estate)
foreign investment
more foreign investment and tourists are likely to come to Thailand.

When Asean becomes a single market due to the implementation of the Asean Economic Community in 2016, more foreign investment and tourists are likely to come to Thailand.

guru - an expert in some subject who teaches other people (a consultant or analyst)
retail gurus

expansion - when something increases in size, number or importance การขยายออก
expansion of retail sector

At a seminar on "Thailand's Retail Outlook in 2013" earlier this week, retail gurus agreed that convenience stores are the rising star in the retail sector for expansion next year.

wage - an amount of money that you earn for working, usually according to how many hours or days you work each week or month ค่าจ้าง
minimum wage - the lowest amount of money that can be paid workers for their work

...the increase in the minimum wage to 300 baht throughout the country and higher incomes from rising farm product prices will increase purchasing power.

factors - one of the things that effects a situation or event ปัจจัย
stimulate - act so as to increase activity กระตุ้น encourage economic activity, growth, and development
operators - businesses doing this business

these factors will stimulate all convenience store operators to speed up their investments next year.

forecast - a statement about what will happen in the future based on information available now พยากรณ์ คาดการณ์
chains - a group of stores operated by the same company ร้านค้าในเครือ (คนไทยเรียกทับศัพท์ว่า เชน เช่น 7-Eleven, ลูกชิ้นนายฮั่ง เป็นต้น)

Experts ... forecast that at least 1,000 new convenience stores from all chains will be opened in 2013, higher than the average of 750-800 in previous years.

outlets - stores, places to sell products ร้านค้า

...CP Group All is planning to open 540 new 7-Eleven stores next year, up from 450-500 new outlets this year

merchandise - goods that are bought and sold ผลิตภัณฑ์, วัตถุที่ซื้อขายกัน
product merchandise

premium - special features or service that you pay extra for
premium offerings - special things for sale that cost a little extra

...Customers will see ... many big changes at our 7-Eleven convenience stores next year, from product merchandise to premium offerings...

international -  between countries, involving more than one country ระหว่างประเทศ
international brands

destinations - places that you can travel to
tourist destinations - places that tourists travel to

staff - people who work for a company or organisation พนักงาน
staff who can speak Chinese, Japanese or English

communicate - to give information or thoughts, feelings, etc to other people สื่อสาร, ติดต่อสื่อสาร
staff communicate with customers.

...More international brands will be available at 7-Eleven stores, particularly at tourist destinations where staff who can speak Chinese, Japanese or English will communicate with customers.

loyalty - being firm and not changing in your friendship; support that you always give to someone or something because of your feelings of duty and love towards them ความจงรักภักดี

households - families or groups of people living together (economics treats this as a unit that makes decisions)
Thai households

customers have less time and loyalty than in the past

interest
- ความสนใจ
environment - the natural world of land, sea, plants, and animals
their interest in health and the environment...

... Thai households are smaller than in the past and customers have less time and loyalty, so the company will offer more products responding to their requirements, particularly their interest in health and the environment...

estimate - guess an amount (not exact); to say what you think an amount or value is or will be, either by using available information or by guessing คาดคะเน โดยประมาณ

segment - a part of something ตอน a separate part ส่วนต่างๆของสังคม
market segment - one smaller part of a larger market with customers that have special needs (See Wikipedia)
convenience store segment

Experts...estimate the convenience store segment will grow by 15% next year.

pace - the speed and rhythm of something  ท่างทำนอง ย่างก้าว จังหวะ ที่สิ่งต่างๆ ดำเนินไป
accelerated pace - going faster and faster, speed increasing

expansion -
getting bigger
accelerated pace of expansion - size getting bigger, at a faster and faster rate

respond - to say or do something as a reaction to something that has been said or done ตอบสนอง, ตอบรับ
respond to this accelerated pace of expansion

distribution - 1. the business activity of getting products to customers; 2. giving or delivering things to many people การจำหน่ายออกไป
distribution centres

plot - a piece of land used for a particular purpose
a 100-rai plot in Samut Sakhon province

expected - believe will happen คาดว่า (จะเกิดขึ้น)
expected to be set up on a 50-rai plot in Chon Buri

To respond to this accelerated pace of expansion, 7-Eleven is planning to spend about 1 billion baht to open two more distribution centres. One of the centres will be on a 100-rai plot in Samut Sakhon province, while the other is expected to be set up on a 50-rai plot in Chon Buri.

More on this topic

Bangkok Post online classifieds

Try buying & selling goods and properties 24/7 in our classifieds which has high purchasing power local & expatriate audience from within Thailand and around the world.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments