A convenience store chain "With Me," run by Shinsegae Group, plans to expand the number of its shop locations nationwide up to 5,000 within the next three years, aimed at nurturing itself as one of the nation's big-four convenience store chains.
Shinsegae officials said on October 30, "We plan to increase the number of With Me shops by more than 1,000 per year, aiming at breaking the 5,000 level within the next three years." They added, "The convenience store business can improve its competitiveness by boosting economies of scale to a certain level."
If Shinsegae's With Me chain can pass the 5,000 level in three years, it could leapfrog itself into one of top four convenience store chains in Korea, including CU, GS 25, and 7Eleven.
As of the end of September 2016, CU ranks No. 1 with the number of its stores nationwide estimated at 10,509, followed by GS 25 with 10,362, 7Eleven with 8,405, and Mini Stop with 2,317.
Given that Mini Stop is increasing the number of its shops by 250-300 per year, analysts said it's only a matter of time for With Me to catch up with Mini Stop.