ALEXANDRIA, Va.—Shell Philippines announced it will open retail stores and restaurants inside a third of its gas stations by 2025, reports Inside Retail Asia. The retail and restaurants include Starbucks, Adidas, McDonald’s and Jollibee and are slated to open in 550 of 1,400 Shell Philippines’ stations across the country.
Shell Philippines CEO Lorelie Quiambao Osial said the company wants to increase non-fuel retail revenue by 15% annually and create an income stream that eventually accounts for 25% of sales.
“We are transforming what you’d normally call petrol retail stations into mobility destinations,” Osial told Bloomberg. “Before it was motorist-driven. Now, it’s something for the passengers to enjoy as well.”
According to a McKinsey report, oil and gas corporations plan to dramatically scale up the share of their revenue derived from nonfuel retailing, including China’s Sinopec, Thailand’s PTT (which owns Cafe Amazon), and Malaysia’s Petronas, reports Inside Retail. The change in consumer behavior and COVID-19’s impacts are behind the changes. The report said that because more people are working from home, shopping online and buying groceries from convenience stores instead of grocery stores, gas sales will decrease due to a decline in car trips.
Mark your calendars for February 28 to March 2, 2023, when NACS Convenience Summit Asia heads to Bangkok, Thailand, where you’ll be transported into the epicenter of retail disruption and innovation—Asia—for an immersive look into the future of convenience retailing . Sign up to be notified when registration opens.