PriceSmart opens 4th location in RP

PriceSmart, the US-based shopping warehouse, is set to open its fourth location in the Philippines on June 9.

The new location at the Aseana Business Park in Diosdado Macapagal Complex in Parañaque City brings the company’s investment to $50 million after barely four years of operation.

Other Philippine locations of PriceSmart are Fort Bonifacio, Global City in Taguig, Congressional Avenue in Quezon City, and West Gate Development, Filinvest Corporate City in Alabang, Muntinlupa.

With the opening of PriceSmart Aseana, PriceSmart Warehouse now operates 29 membership-shopping warehouses around the world.

PriceSmart opened its first location at the Bonifacio Global City in 2001.

PriceSmart founder Sol Price created the discount store industry when he opened the FedMart in the US in 1954. In 1976, Price and his son Robert developed the membership-merchandising concept and founded the Price Club, where member-customers could take advantage of high-volume, low cost operations to obtain the best possible prices on a wide array of merchandise.

Price’s son Robert is now president and chief executive officer. He explains his father’s concept: "A great big American-style shopping warehouse filled with aisle after aisle of ceiling-high shelves stocked with everything you need for home and business. High quality, name brand merchandise and services. Convenient shopping at low warehouse prices. All made possible because of our buying power, overhead, and proven membership concept."

Over the last 48 years, the evolution of the warehouse shopping industry in the US has created more than 73 million cardholders buying at wholesale clubs. In the US alone. The warehouse membership-merchandising concept generates in excess of $57 billion in annual sales.

PriceSmart carries everything needed for home, business or office at warehouse prices. It specializes in offering a wide variety of fresh and frozen foods, beverages, paper products, staple and other groceries, electronics, business supplies and furnishings, tools, health and beauty aids, sporting goods, home furnishings and more.

"The company strives to meet the unique needs of all its members in the local marketplace both in product selection and wholesale and institutional package sizing," states Ben Woods, senior vice president for PriceSmart Asia operations. "Individuals as well as large and small businesses find PriceSmart user friendly."

PriceSmart operates in 13 countries of Central America, the Caribbean and Asia, specifically in Panama, Costa Rica, Dominican Republic, Guatemala, El Salvador, Hondrus, Aruba, Barbados, Philippines, Trinidad & Tobago, US Virgin Islands, Mexico and the Philippines.

PriceSmart also licenses four warehouses in China, and two warehouses in Saipan, Microneasia.