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Liquor ban weakens 7-eleven sales
(Antara/Prasetyo Utomo)PT Modern Internasional Tbk has reported decreased profits in some of its 7-Eleven outlets across Jakarta, after the alcohol ban regulation was implemented, forcing them to find a new way to cover the losses
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(Antara/Prasetyo Utomo) (Antara/Prasetyo Utomo)
(Antara/Prasetyo Utomo)
PT Modern Internasional Tbk has reported decreased profits in some of its 7-Eleven outlets across Jakarta, after the alcohol ban regulation was implemented, forcing them to find a new way to cover the losses.
Modern Internasional's Finance Director Chandra Wijaya said that alcohol sales used to represent 8 to 10 percent of the retailer's total sales.
"Based on our evaluation, there are 20 to 30 stores that underperformed after the alcohol ban. Those stores experienced a drop in their sales after the policy was implemented," said Chandra during a press conference as quoted by Kontan.co.id in Jakarta on Tuesday.
The alcohol ban has had a multiplier effect on snacks sales, he added, as customers often bought alcohol and snacks together.
Responding to this drop in profits, the company decided to increase its promotion of instant foods. Through its subsidiary, PT Fresh Food Indonesia, the company has signed a joint-partnership with Japan-based Warabeya Nichiyo to provide 'grab and go' foods. (ags)
