Alfamart, the minimart chain of the SM Group, is embarking on a more aggressive growth as it ramps up store expansion starting this year.
SM Investments Corp. (SMIC) President and CEO, Frederic DyBuncio said Alfamart plans to increase its expansion from 250 new stores annually to 400 starting this year.
Currently, Alfamart has a total network of 1,692 stores, mostly located outside Metro Manila. Each of its store carries a minimum of 4,000 SKUs.
Alfamart is a small format minimart grocery store located primarily in residential neighbourhoods. It offers a range of essential groceries with supermarket pricing.
Alfamart started operation in 2014, through a joint venture by the SM Group with Indonesia-based minimart operator PT Sumber Alfaria Trijaya Tbk, which owns the Alfamart brand in Indonesia.
Alfamart is operating under SM Markets, the food retail brand of SM Retail, whose businesses include food, non-food and specialty retail stores.
In 2023, Alfamart posted sales of Pesos 28.4 billion (US$659.5 million), with 9% growth.
