MerryMart Consumer Corp.'s FY2023 Net Income was P408.20 Million; Revenues Grew YOY to P6.30 billion; Plans to Open the Largest Full-Sized Branch

MerryMart Consumer Corp. (MerryMart) has reported that its revenue for the entire year that ends on December 31, 2023, increased by P6.30 billion year over year.

As of December 31, 2023, the company has P12.31 billion in total assets. The total equity as of December 31, 2023, is P4.32 billion. Net income for the entire year 2023 is P408.20 million. The wholesale division of MM is currently scaling up. The wholesale e-commerce industry has expanded dramatically, although at a lower profit margin due to larger transaction values. MM is expecting to greatly increase its market share through improvements in distribution centers, logistics, and system upgrades; therefore, it is continuing to invest in those areas of its business that are critical to its readiness.

​​In July 2024, MerryMart plans to establish its largest standalone, full-sized supermarket. The store would occupy 4,032 square meters of prime land in Tarlac's Cresendo Estate, which is owned by Ayala Land. The MerryMart Grocery will use this innovative, standalone, full-sized supermarket design as its model for stores in expansive horizontal neighborhoods. With its roof-mounted solar panels, LED lighting, power-efficient equipment, bicycle racks, and electric car charging stations, it aims to be an environmentally friendly supermarket. The entire range of basic essential products, including personal care, pharmacy, and grocery, will be available in this format. 

“We are glad that MerryMart has delivered revenue growth from its current business lines continuously gaining market share and investing in the foundation of any business is like laying down sturdy roots for a mighty tree. Just as a tree needs a strong foundation to support its growth, a business needs solid infrastructure, efficient processes, skilled workforce, and innovative strategies to thrive in the long run. By allocating resources towards the foundation of MerryMart we are fortifying its core elements which include continuously upgrading our technology infrastructure to optimize supply chain logistics.

Furthermore, focusing on the foundation sets the stage for future growth and expansion. With a strong foundation in place, MerryMart will be better equipped to weather challenges and scale operations efficiently in the future. We are making strategic decisions that prioritizes long-term sustainability above all, laying the groundwork for the future success and growth of MerryMart to delight the customers today as well the next decades. All these are components of the overall strategy that is expected to contribute towards its intended goal to achieve its 2030 vision,” said MerryMart Chairman Edgar “Injap” Sia II.

MerryMart Express, MerryMart Market, MerryMart Grocery, and MerryMart Wholesale are among the formats offered by the MerryMart Group. The first product in MerryMart's consumer technology portfolio, MBOX Smart Lockers from subsidiary MM Consumer Technologies Corp., is anticipated to enhance and expand the MerryMart Group's ecosystem.

With 1,200 locations around the country, MerryMart hopes to reach its Vision 2030 target of P120 billion in recurring consumer sales revenue for the entire system.