Savemore opens another branch in Mandaue City

Thursday, February 9, 2012

SAVEMORE Market, the neighborhood grocery store brand under the SM Food Retail Group, is planning to open 26 to 40 more branches this year, buoyed by the country’s vibrant consumer sector.

Included in the company’s expansion plans are more outlets in the Visayas and Mindanao areas, where there is a large unserved demand, said Jose Ronaldo Tagbo, vice president for operations of Savemore Market.

Have something to report? Tell us in text, photos or videos.

Tagbo said they might open three more Savemore Markets in Cebu this year, specifically in the southern area.

Yesterday, the firm opened Savemore Market in Insular Plaza in Mandaue City, the company’s first expansion in Cebu for this year.

In November 2011, the company opened two branches in Canduman and Maguikay in Mandaue City.

Tagbo said the company recorded “tremendous growth” with the opening of these two branches.

According to Tagbo, the company posted double digit growth last year. He expects continued growth as the company intends to grow its business in the provincial areas.

Cebu now has six Savemore Market branches. The Savemore Market at Insular Plaza is the company’s 66th store nationwide.

Compared to SM’s other retail food formats such as the supermarket, hypermarket and Makro, Savemore caters to a particular niche market-shoppers who are budget-conscious and those who purchase in the last minute.

Affordable

“The aim of Savemore is to bring the affordable food and services closer to the community,” Tagbo said.

Aside from the aggressive expansion in provincial areas, the company has also put in place some unique innovations to attract more buyers, particularly to those who wish to start a small food business.

“For instance, we sell chairs and tables, aprons, ready to cook products for would-be entrepreneurs to start off their catering or restaurant business,” Tagbo said.

Savemore Market also houses other facilities such as pharmacy, bills and payment among others.

Aside from addressing household concerns, the expansion of Savemore also generates local employment. Tagbo said about 90 percent of the employees are sourced from the local community.

The SM Retail reported a net income growth of 12 percent for the first nine months of 2011 to P3.95 billion from P3.55 billion last year. Total sales amounted to P 101.90 billion for a 10 percent increase over that of last year.