Is PSO following Tesco's footsteps? The fastest growing convenience stores in Pakistan – Research Snipers

Is PSO following Tesco’s footsteps? The fastest growing convenience stores in Pakistan

Tesco is the largest and most popular UK-based multinational grocery store. In terms of profits, it is the third biggest retailer in the world. In terms of revenues, it is the 9th largest retailer in the world. The reason Tesco gained popularity was the fact that apart from having Superstores & Supermarkets, the company started convenience store business, having its branch on every corner.

Now the question is that what does a UK-based grocery store has in common with Pakistan’s biggest oil company, Pakistan State Oil Company Limited? It is the marketing & business strategy that they have in common. PSO is slowly becoming Pakistan’s fastest growing retailer in Pakistan with its ever-increasing convenience stores in the country just like Tesco.

As new local and foreign brands are entering Pakistan’s retail market, PSO is just growing & developing further. Competition has allowed the company to expand and explore its boundaries.

PSO is the biggest fuel importer in Pakistan. It fuels half of Pakistan’s vehicles. Its profits are surging through fueling of 80% air traffic, a fifth of power generation and the whole railway traffic.

PSO has the biggest distribution network in Pakistan with 3,754 outlets. 3,565 of the outlets are for the retail sector while the rest are for its majority customers.

Interesting: Honda issued a complaint against Shell, Total & PSO

Sheikh Imran ul Haque, the managing director of the country’s largest oil company said, “We already operate around 3,500 stores nationwide and are adding over 70 new shops each year to the retail network.” He said this at the seventh international Retail Leaders Conference in Lahore

Must read: PSO is firing employees, 1700 workers sent a termination letter

Adding, “Globally Oil companies are earning 30-40pc of their revenues from their non-fuel retail operations.”

The company is also planning to introduce coffee shops, restaurants, tourist stores by the end of June.