7-Eleven 'investing heavily' in digital, says CEO

Jessica Fenol, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2018/overseas/07/19/07192018-cliq.jpg"/><figcaption>A screengrab of 7-Eleven&#x27;s e-commerce site CLiQQ shop.</figcaption></figure></div><p>MANILA - The popular convenience store chain 7-Eleven is &quot;investing heavily&quot; in its digital payment system and e-commerce services, its operator said on Thursday.</p><p>Philippine Seven Corp., the 7-Eleven operator in the country, has invested a total of P50 million in digital in the first half of 2018, its president and CEO Jose Victor Paterno told reporters.</p><p>&quot;We’ve been investing quite heavily in digital. You’ve seen our wallet and e-commerce store. It is likely we will continue to be in investment mode for the next couple of years,&quot; he said.</p><p>Aside from its CLiQQ payment kiosk, 7-Eleven introduced CLiQQ Pay in December 2017 that allowed consumers to pay for items from the store using reward points stored in their e-wallets.</p><p>CLiQQ shop was also introduced as part of its offline to online e-commerce venture where goods bought via the web would be available for pick-up in 7-Eleven outlets.</p><p>Such method would result in &quot;low acquisition costs and superior unit economics,&quot; Paterno said.</p><p>&quot;We&#x27;re not only capitalizing on revenue opportunities presented by the payment and logistics needs of digital players in an emerging market, but we&#x27;re becoming a digital player ourselves,&quot; Paterno said.</p><div><script src="https://connect.facebook.net/en_US/sdk.js#xfbml=1&amp;version=v2.5" async="" type="text/javascript"></script></div><div class="fb-post" data-href="https://www.facebook.com/cliqqshop/photos/rpp.863759933782104/1037644469726982" data-width="auto"> </div><p>Paterno said the CLiQQ app was one of the most downloaded applications recently and has contributed to the growth of 7-Eleven&#x27;s consumer base.</p><p>&quot;We found it&#x27;s easier for us to acquire customers because they trust the brand and because they can just go the stores to redeem items,&quot; he said.</p>

<p>MANILA - The popular convenience store chain 7-Eleven is "investing heavily" in its digital payment system and e-commerce services, its operator said on Thursday.</p>

MANILA - The popular convenience store chain 7-Eleven is "investing heavily" in its digital payment system and e-commerce services, its operator said on Thursday.

7-Eleven 'investing heavily' in digital, says CEO | ABS-CBN

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7-Eleven 'investing heavily' in digital, says CEO

Jessica Fenol,

ABS-CBN News

Published Jul 19, 2018 08:14 PM PHT

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7-Eleven

CLiQQ Pay

CLiQQ shop

investments

convenience store

retail

digital payments

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