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The retailer currently operates 526 shops, predominantly within the Klang Valley. “Our plan is to open two to 3 stores a week or a mean of 10 shops each month,” he says, pointing to deliberate new shops in Negeri Sembilan, Johor and Melaka. “It is due to the grocery market becoming very versatile, in addition to the fast progress of the net platform,” he opines.

Lee attributes this to customers worrying about visiting big shopping malls during the pandemic and preferring to shop at the store nearest house instead. Industry sources say 99 Speedmart is the grocery market chief, commanding a tenth of the market. The lender on Saturday reported 19% year-on-year rise in web revenue for the quarter ended December to Rs 12,259 crore. …