After a successful outlet in the capital, cash and carry brand Makro will inaugurate a new supermarket in Siem Reap tomorrow.
Located in Prasat Bakong district, the new store cost nearly $19 million and is expected to create 179 jobs for locals, according to the Council for the Development of Cambodia.
Following the success of its Phnom Penh store, Makro wants to expand across the country to offer high-quality products and services to the Cambodian people, the company said in a statement.
The company has invited vendors, hotels, and restaurants in Siem Reap to join a workshop before the grand opening where it will introduce the supermarket and explain how to be become a member of the Makro Retailer Alliance, according to the statement.
“Makro is ready to serve professional consumers in Siem Reap, and pledges to serve local retailers and business partners to the best of its ability,” it said.
Nuon Tepvihea, general manager of Apsara Angkor Hotel, said the Makro outlet is a welcomed addition to the city. He said it will add value to the local tourism sector, especially in the hospitality industry.
“I think the supermarket will attract local tourists to the province, particularly from Kampong Thom and other provinces that border Siem Reap. People no longer have to go all the way to the capital to visit a Makro.”
Mr Tepvihea said he plans to source some of the products used in his hotel from the new store, but will continue to rely mostly on local vendors.
James Hodge, associate director of CBRE Cambodia, told Khmer Times that Siem Reap is growing rapidly as a market and attracting larger amounts of tourists, making investments like Makro necessary to keep up with customer demand.
He said Makro’s presence will surely affect existing businesses.
“Businesses may respond by considering prices, the quality of the service or environment they offer to customers.
“Usually competition is a good thing for consumers as it ensures businesses remain up-to-date and listen to customers in order to remain relevant,” he added.
Mr Hodge said the modernisation of the retail market is now happening across the entire country, not just the capital. “Provincial towns and cities will follow in Phnom Penh’s footsteps, developing modern format retail to suit demand.”
“Certainly a provincial town or city that benefits from high numbers of tourists will also interest retail developers. They see an opportunity to tap into another source of potential customers,” he said.
Makro opened its first supermarket in December 2017 in Phnom Penh. It was a joint venture of Siam Makro, which operates more than 100 Makro stores in Thailand, and Cambodia’s LYP Group Company Limited, run by tycoon and senator Ly Yong Phat.
With the exception of a few countries – including Thailand and Cambodia – Makro stores are not open to the general public, but only to businesses registered with the supermarket.