Retail & E-CommerceBronze report

Published April 2026Insight Research18 min read2026 Edition8 sources, 3 primary-gradeStandard source depth

The CP All 7-Eleven Empire: 14,000 Stores and Thailand's Convenience-Store Density Crown

CP All (CPALL, SET-listed CP-Group affiliate) operates ~14,000+ 7-Eleven stores in Thailand — world's #2 7-Eleven country count after Japan. Thailand convenience-store density ~1 per 4,500-5,000 people; among highest globally. Lawson 108 (RBS-affiliated, ~2,000 stores), FamilyMart Thailand (Central Group / Saha Pathana JV, ~1,000 stores) round out competitive field. CP All FY2024 revenue THB 950B+ including Makro, Lotus's wholesale-and-supermarket integration.

Key takeaways

1
CP All operates 15,430 7-Eleven stores in Thailand as of May 2025 (CP All disclosure); world's #2 country count after Japan (~22,000).
2
Store mix: ~ company-owned, ~ franchise and sub-area licensee — franchise economics underwrites the ~700-store annual rollout cadence.
3
Thai convenience-store density ~1 per 4,500-5,000 people; among highest globally, comparable to Japan and South Korea.
4
FY2024 convenience-store segment revenue (+ YoY); FY2024 segment operating profit (+ YoY).
5
Multi-format CP All retail empire: 7-Eleven CVS, Lotus's Supermarket and Lotus's Express, Makro wholesale. Group revenue +.
6
Structural moat: scale-driven supplier-pricing leverage, private-label penetration, CP-Group-integrated CPF food supply chain.

Questions this report answers

How big is CP All? Per CP All SET disclosures: CP All Public Company Limited (CPALL, SET-listed CP-Group / Charoen Pokphand-affiliated, Chearavanont-family-controlled) operates ~14,000+ 7-Eleven stores in Thailand — world's #2 country by 7-Eleven count after Japan (~22,000 stores). FY2024 revenue + including 2020 Tesco Lotus's Asia acquisition (Lotus's wholesale, supermarket, Lotus's Express integration).^{[, ]}

What's Thai convenience-store density? Thai convenience-store density runs ~1 per 4,500-5,000 people; among highest globally — comparable to Japan, materially higher than Indonesia, Malaysia, Vietnam, Philippines. Density driven by Thai-urban-density, cash-economy, 24/7-cultural-demand, dense-payment-acceptance.^[]

Who's the competitive field? Lawson 108 (Saha Pathana-affiliated, ~2,000 stores mass-tier convenience-store), FamilyMart Thailand (Central Group / Saha Pathana JV, ~1,000 stores), Lotus's Express (post-2020 CP All acquisition integration), Big C Mini (BJC-affiliated). CP All structural moat: scale-driven supplier-pricing, private-label, CP-Group-integrated supply chain (CPF food). Siam Makro CP-affiliated wholesale tier.^[]

Public-record references

Data as of: 2025-2030 horizon

Executive summary

CP All ~14,000+ 7-Eleven stores in Thailand; world's #2 after Japan (~22,000). Thai density ~1 per 4,500-5,000 people; among highest globally.^{[, ]}

CP All FY2024 revenue + including 2020 Tesco Lotus's Asia acquisition. Multi-format: 7-Eleven CVS, Lotus's Express, Lotus's Supermarket, Makro Wholesale.^[]

Lawson 108 (~2,000 stores), FamilyMart Thailand (~1,000), Big C Mini competitive field. Structural moat: scale, private-label, CP-Group supply chain (CPF food).^[]

Public-record references

Data as of: 2025-2030 horizon

CP All 7-Eleven empire structure

Store count

Value

~14,000+ 7-Eleven

Notes

World's #2 after Japan.

Store density

Value

~1 per 4,500-5,000 people

Notes

Among highest globally.

FY2024 revenue

Value

$27.5B+

Notes

Including 2020 Tesco Lotus's acquisition.

Multi-format

Value

7-Eleven, Lotus's Express, Lotus's, Makro

Notes

Convenience, supermarket, wholesale.

Lawson 108

Value

~2,000 stores

Notes

Saha Pathana-affiliated.

FamilyMart Thailand

Value

~1,000 stores

Notes

Central, Saha JV.

Metric	Value	Notes
Store count	~14,000+ 7-Eleven	World's #2 after Japan.
Store density	~1 per 4,500-5,000 people	Among highest globally.
FY2024 revenue	$27.5B+	Including 2020 Tesco Lotus's acquisition.
Multi-format	7-Eleven, Lotus's Express, Lotus's, Makro	Convenience, supermarket, wholesale.
Lawson 108	~2,000 stores	Saha Pathana-affiliated.
FamilyMart Thailand	~1,000 stores	Central, Saha JV.

Public-record references

Data as of: 2024-2026

CP All 7-Eleven store rollout (2020-2025)

2020

Stores (count)

~11,800

Context

COVID compresses ready-meal but ramps essentials traffic

2021

Stores (count)

~12,700

Context

Recovery rollout, foreign-tourist trough

2022

Stores (count)

~13,400

Context

Tesco Lotus's Asia integration year-2; True Money wallet penetration deepens

2023

Stores (count)

~14,000

Context

Net adds normalise; foreign tourism returns

2024

Stores (count)

~14,700

Context

+~700 net new stores per CP All FY2024 MD&A; segment revenue +10.1% YoY

May 2025

Stores (count)

15,430

Context

CP All disclosure: 51% company-owned, 49% franchise/sub-area licensee

Year	Stores (count)	Context
2020	~11,800	COVID compresses ready-meal but ramps essentials traffic
2021	~12,700	Recovery rollout, foreign-tourist trough
2022	~13,400	Tesco Lotus's Asia integration year-2; True Money wallet penetration deepens
2023	~14,000	Net adds normalise; foreign tourism returns
2024	~14,700	+~700 net new stores per CP All FY2024 MD&A; segment revenue +10.1% YoY
May 2025	15,430	CP All disclosure: 51% company-owned, 49% franchise/sub-area licensee

CP All FY2024 MD&A; CP All May-2025 store-count disclosure

Data as of: May 2025

CP All consolidated FY2024 segment mix

7-Eleven CVS (convenience store)

Group revenue share %

~46%

Notes

$12.7B FY2024 segment revenue; operating profit $976.8M (+25.6% YoY)

Lotus's (Tesco Lotus's Asia)

Group revenue share %

~30%

Notes

Lotus's hypermarket, supermarket, Lotus's Express; post-2020 CP-acquired

Makro (Siam Makro, wholesale)

Group revenue share %

~22%

Notes

B2B wholesale; HoReCa, traders, modern-trade procurement

Other (digital, fintech, services)

Group revenue share %

~2%

Notes

True Money Wallet, 7-Catalog, Counter Service, ALL Online

Segment	Group revenue share %	Notes
7-Eleven CVS (convenience store)	~46%	$12.7B FY2024 segment revenue; operating profit $976.8M (+25.6% YoY)
Lotus's (Tesco Lotus's Asia)	~30%	Lotus's hypermarket, supermarket, Lotus's Express; post-2020 CP-acquired
Makro (Siam Makro, wholesale)	~22%	B2B wholesale; HoReCa, traders, modern-trade procurement
Other (digital, fintech, services)	~2%	True Money Wallet, 7-Catalog, Counter Service, ALL Online

CP All FY2024 MD&A, SET factsheet (CPALL)

Data as of: FY2024

Analyst framing

Why this report matters

CP All ~14,000+ 7-Eleven stores; world's #2 after Japan. Thai convenience-store density ~1 per 4,500-5,000 people. CP All FY2024 revenue $27.5B+ including 2020 Tesco Lotus's Asia acquisition. Multi-format: 7-Eleven, Lotus's, Makro. Lawson 108 (~2,000), FamilyMart (~1,000) competitive field.

Operator playbooks

CP All (SET: CPALL): the structural empire. ~15,430 7-Eleven stores in Thailand (May 2025), ~51% company-owned. FY2024 convenience-store segment revenue THB 439.8B, +10.1% YoY; segment operating profit THB 33.7B, +25.6% YoY (CP All MD&A). Differentiation: scale-driven supplier pricing, CP-Group-integrated CPF food supply chain feeds the ready-meal economics that 7-Eleven Thailand has structurally industrialised. Counter Service bill-pay, ALL Café, True Money Wallet acceptance lock daily-visit habit. THB 7.5B share-buyback announced 1Q25 signals balance-sheet confidence post-Lotus's integration.

Lawson 108 (Saha Pathana-affiliated, ~2,000 stores): mass-tier CVS positioned in working-class Bangkok, urban-edge provincial. Japanese Lawson brand, ready-meal focus; smaller footprint, less private-label depth, harder unit economics vs 7-Eleven scale. Family-Mart Thailand (Central Group / Saha Pathana JV, ~1,000 stores): mid-tier CVS positioned in shopping-centre, transit-hub locations; ready-meal, fresh-food emphasis. Both compete with 7-Eleven on convenience but lack the supplier-pricing leverage CP All has built across 15,000+ stores.

Big C Mini (BJC-affiliated, growing): TCC Group / BJC subsidiary using small-format CVS to defend modern-trade share without rebuilding 7-Eleven scale. Lotus's Express (CP All-affiliated post-2020 acquisition): integrated into CP All's multi-format empire; differentiates Lotus's wet/fresh sourcing into mini-format. Both compete with 7-Eleven at the margin but neither threatens the structural empire. Watchlist competitor: any platform-native model — e.g. Foodpanda / LINE MAN ghost-kitchen partnership, Lalamove last-mile — that disintermediates the impulse-purchase economics 7-Eleven monetises.

Unit economics and franchise economics

Per CP All disclosures and industry triangulation: a 7-Eleven store generates ~THB 80,000-110,000 in daily sales depending on location (transit hub vs residential), with gross margin in the 28-32% range driven by private-label and CP-Group-sourced fresh-food. Operating margin per store ~6-8% blended; ready-meal is the highest-margin category at 35-40% gross. CP All FY2024 segment operating profit of THB 33.7B on segment revenue of THB 439.8B implies ~7.7% operating margin at scale, slightly above the per-store benchmark thanks to logistics scale and supplier rebates.

Franchise economics: a 7-Eleven Type C franchisee (full-investment model) invests ~THB 3-4M upfront for fit-out and licence; CP All takes a fixed percentage of monthly gross margin (industry estimate 50-60% of gross profit), with the franchisee keeping operating cash flow net of staff, utilities. Payback in 5-7 years at base-case traffic. The 49% franchise share confirms this model continues to scale — franchisees absorb capex risk while CP All collects scale and brand royalty.

Unlock the full report

Detailed mechanics, sensitivity analysis, scenarios to 2030, recommended actions for operators, investors, and policy researchers.

Unlock full report·$99

Need more than the web report? Ask for a scoped export or source appendix.

Every report keeps visible citations and source metadata. Terms.

Related reports

Inside the CP Group Empire: From Seed-Trading Roots to a USD 90B Multi-Continental Conglomerate

Charoen Pokphand Group (CP Group, Chearavanont-family-controlled) is Thailand's largest private conglomerate by revenue — ~USD 90B revenue FY2024. Founded 1921 in Bangkok's Yaowarat by Chia Ek Chor (Teochew Chinese-Thai immigrant), brother Chia Sri-O as Chia Tai seed-trading, livestock-feed business. Modern empire built by Dhanin Chearavanont (third-generation, took over 1969 at age 30, retired 2017 as Senior Chairman, now succeeded by son Suphachai Chearavanont as CEO, chairman position). Major subsidiaries: CPF Charoen Pokphand Foods (CPF SET-listed, FY2024 revenue THB 600B+, world's largest poultry, pork, aquaculture vertically-integrated), CPALL (CPALL SET-listed, ~14,000 7-Eleven Thailand, Lotus's, Makro post-2020 Tesco-Lotus's-Asia acquisition), CPN Central Pattana (CPN SET-listed, Bangkok mall developer; sold to Central Group eventually), Siam Makro (CP All subsidiary, wholesale), True Corporation (TRUE SET-listed, post-March 2023 True+DTAC merger, mobile telecom ~50% subscriber share), CP Axtra (CP Axtra wholesale platform). Geographic expansion: China is structural anchor since Deng-era 1979 entry (CP first foreign investor in China, Shenzhen-affiliated); Vietnam, Cambodia, Laos, Myanmar, Indonesia, Philippines, Malaysia. Watchpoints: succession dynamics (Suphachai era 2017-onward), China expansion vs domestic-Thai consolidation, 2027 election political-cycle, environmental, labour-rights pressure (CPF supply chain).

Open report →

Saha Pathana and the Chokwatana Family: Thailand's FMCG Licensing Empire and the Mama Noodle Heritage

Saha Pathana Group (Saha Group, Chokwatana-family-controlled, founded 1942 by Boonsithi Chokwatana Teochew Chinese-Thai) is Thailand's structural FMCG licensing empire. Saha Pathana Inter Holding (SPI SET-listed, holding parent) oversees major Thai-FMCG license holdings, family-controlled portfolio. Major brands: Mama instant noodles (President Foods Group, ~50% Thai instant-noodle share, world's #2 instant-noodle brand by volume after Indonesia's Indomie, South Korea's Shin Ramyun), Wacoal Thailand (Japanese-licensed lingerie, intimate-apparel ~30-40% Thai market share), Lion-affiliated personal-care (Pao laundry detergent, Salada hair-care), Pae brand soap, Lawson 108 convenience-store (Saha-Pathana JV with Japanese Lawson; ~2,000 stores Thailand), FamilyMart Thailand (Central JV ~1,000 stores), Tsuruha Thailand drugstore. Distribution: ICC International (Saha import-distribution arm). ~USD 5-8B Saha Group combined revenue. Boonyathat Chokwatana (third-generation chairman), Boonchai Chokwatana (CEO). Watchpoints: succession dynamics, Lawson 108 vs 7-Eleven competitive squeeze (CP All ~14,000 stores vs Lawson 108 ~2,000), Wacoal Thailand consumer trajectory, Mama global-export expansion vs Mama-instant-noodle Vietnam-Indonesia competition.

Open report →

Thailand Convenience Store Economics Deep Dive

Deep-dive into Thai convenience store economics. Thailand has ~20,000+ convenience stores — highest density in ASEAN, among top-5 globally per capita. 7-Eleven (CP All SET: CPALL) ~14,000+ stores dominates with ~68% share. Lotus's Go Fresh small-format (CP Axtra SET: CPAXT) ~1,700+ stores. FamilyMart (Central Group JV) ~1,100+ stores. Big C Mini (BJC SET: BJC) ~550+ stores. Lawson 108 (Saha Pathana JV) ~170+ stores. Tops Daily (CRC SET: CRC) ~90+ stores. Unit economics: CP All 7-Eleven same-store-sales growth ~2-4% typical, store-level revenue ~USD 200-350/day, gross margin ~26-28%, EBITDA margin ~10-12%, payback 3-5 years. Fresh food (RTE, beverages, bakery) drives traffic, margin; CP All, CPF fresh-food supply chain is the structural moat. 24-hour, dense urban, provincial, tourist footprint. Regulation: MOC retail regulation, MOF excise (tobacco, alcohol). Near-term variables: quick-commerce cannibalisation, aging consumer, tourist recovery, EV, DC-location CVS openings.

Open report →

The Bangkok Mall Empire: CPN, Central, EmQuartier, IconSiam, and the Tourist-Shopping Anchor

Thailand's mall and shopping-centre industry is structurally large at ~700 modern-trade malls plus shopping-centres nationwide; aggregate Bangkok-plus-provincial mall-revenue estimated THB 700-900B annual. Major operators: Central Pattana (CPN, SET-listed, Chirathivat-family-controlled, operates 39+ malls including CentralWorld Bangkok flagship, Central Embassy luxury-tier, CentralPlaza Bangna, CentralPlaza Lat Phrao, plus provincial CentralPlaza chains). The Mall Group (Mongkol family-controlled, operates EmDistrict cluster: The Mall, EmQuartier, Emporium, EmSphere; plus Siam Paragon Bangkok flagship). IconSiam (Charoen Sirivadhanabhakdi TCC, Mitr Phol JV; Chao Phraya riverside-flagship; Apple Store Thailand flagship). Gaysorn (Gaysorn Property Group). Boutique premium cluster Bangkok: Siam Paragon, EmQuartier, Central Embassy, Gaysorn, IconSiam, MBK (Mahboonkrong). Provincial-mall consolidation: CentralPlaza expansion regional, Robinson Lifestyle (CPN-owned), Big C / Tesco-Lotus hybrid retail-mall format. Tourist-shopping anchor structurally important: Chinese-inbound tourists historically drove material luxury-mall, tourist-souvenir demand at Siam Paragon, EmQuartier, IconSiam, MBK; Chinese-inbound recovery 2024-2026 drives momentum. CPN Retail Growth REIT provides foreign-investor access (sister REIT report).

Open report →