Phoenix Petroleum which is fast diversifying into other retail sectors aside from fuel said it will pursue the strategy to reposition its portfolio towards high growth, high margin businesses.
Over the past three years, the company said it has embarked on a consumer experience-focused growth strategy that targets the underserved, convenience needs of its existing customers beyond fuel.
From a commercial and B2B-driven base, the company generates around 45 of its domestic sales from growth businesses such as retail fuels and liquefied petroleum gas (LPG) as well as convenience retailing and payments.
It is also leveraging its multi-format network of retail offers to drive synergies and unlock value across its portfolio.
“At the center of our efforts is our customer. By understanding their customer journey and experience, we are able to see their underserved needs and try to fill these through our expanding retail portfolio that is now beyond fuels. With the changes in purchasing behavior post-pandemic, we are complementing these retail offers with digital initiatives that in turn multiply the footprint exponentially,” Phoenix President Bong Fadullon said.
Phoenix has a total of 20,000 business platforms comprised of service stations, LPG and lubricant retail outlets, FamilyMart stores, and Posible retailers. Combined, these touchpoints can reach over 1.2 million customers.
“We need to adapt our core business to changes and disruptions in markets. Retail is going to be the major force driving the business going forward. We are building this capability and we aim to further expand this portfolio with high growth, high margin brands over time,” Fadullon added.