By Manila Bulletin
Hard discount stores Dali and Robinsons Retail Holdings Inc.’s affiliate, O!Save, are giving stiff competition to traditional supermarket and convenience store chains by registering strong sales growth while expanding their reach in the retail market.
Based on research by Abacus Securities Corp., sales of Dali jumped 57 percent to ₱34.1 billion in 2024 from ₱21.8 billion in 2023, while O!Save’s annual sales surged 134.6 percent to ₱13.6 billion last year from ₱5.8 billion in 2023.
“Clearly, these two are at least partly responsible for the lackluster earnings growth of its much larger competitors in the past few years,” added Abacus.
The brokerage noted the “significant inroads hard discounters have made in the local market with Dali leapfrogging MRSGI (Metro Retail Stores Group Inc.) in terms of revenues last year.”
MRSGI posted a 4.9 percent sales growth to ₱28.6 billion last year, lower than Dali’s ₱34.1 billion, when it was higher at ₱27.2 billion compared to Dali’s ₱21.8 billion in 2023.
Other major grocery retail chains also posted single digit sales growth last year with SM Food (including Alfamart) rising eight percent to ₱252.9 million from ₱234.2 million, Puregold Price Club (excluding S&R Membership Shopping) up by 8.3 percent to ₱144.9 billion from ₱133.8 billion, and RRHI Supermarkets with a 4.7 percent hike to ₱120.3 billion from ₱114.9 billion.
Only Philippine Seven Corporation, the local franchisee of 7-Eleven convenience stores, posted double-digit revenue growth of 13.8 percent to ₱90.11 billion last year, up from ₱79.19 billion in 2023.
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