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Home Companies

Central Retail drives forward as Vietnam’s #1 Omnichannel retailer in food and property, targeting …

PR Desk by PR Desk
October 17, 2022
in Companies
Reading Time: 3 mins read
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Central Retail drives forward as Vietnam's #1 Omnichannel retailer in food and property,  targeting ...

Bangkok, 11 July 2022 – Mr. Olivier Langlet, Chief Executive Officer of Central Retail Vietnam announced, “In 2012, Central Retail started investing in Vietnam as the company saw strong potential and business opportunities in the market. With Vietnam as one of Central Retail’s key strategic markets, the company has achieved leaping growth with sales reaching THB 38,592 million in under 10 years, accounting for 22% of Central Retail’s total sales today.”

With strong commitment to business expansion throughout the past 10 years, Central Retail has become the #1 retailer of hypermarkets and the leader in lifestyle malls in Vietnam, with a presence of malls and shops covering 40 provinces nationwide, or 85% of the nation’s GDP, and a strong customer base of over 12 million people. Central Retail Vietnam has also built a winning omnichannel platform in food, modelled after the success achieved in the Thai market, with omnichannel sales accounting for over 8% of Central Retail Vietnam’s total sales today. Additionally, the company has also introduced a successful brand from Thailand, Tops market, to serve the diversified needs of customers in Vietnam. Through this strategy, it allowed the company to build a strong foundation in food categories, enabling Central Retail to capture a market share of 62% in Vietnam’s Hypermarket. Expansion plan for the non-food and property category has also been a key focus, making Central Retail the #1 foreign retailer in Vietnam.

Central Retail Vietnam moves forward with 3 strategies to achieve 4 goals in the next 5 years

By 2026, Central Retail Vietnam plans to invest over THB 30,000 million to achieve 4 goals, which include:

  1. To become the #1 Omnichannel platform in food and property in Vietnam
  2. To drive sales to THB 100,000 million
  3. To double omnichannel sales penetration to 15%
  4. To expand presence across 55 of 63 provinces in Vietnam

Central Retail spearheads 3 key strategies in line with the CRC Retailligence strategy to achieve its growth targets, which include:

  1. Expand and strengthen core businesses nationwide, including the expansion of stores in the food category, enhancement of GO! malls, the launch of private label products that cater to value-conscious consumers and the development of mixed-use projects to strengthen the property business
  2. Become the retailer of the future by building on the company’s strong omnichannel platforms to deliver next-level, seamless shopping experiences to consumers and reach growth target to double omnichannel sales penetration to 15%
  3. Accelerate new growth engines and capture new opportunities to expand the business and customer base, serving lifestyles of consumers across Vietnam. The company aims to capture M&A opportunities to accelerate business expansion, setting sights on Vietnam as a key strategic location for sourcing raw materials and products for Central Retail in Thailand

“Over the past decade since the inception of Central Retail Vietnam, we have achieved leaping growth from a position of strength, which is a result of the company’s vision to grow sustainably and elevate quality of life in every market we operate in. Under this vision, Central Retail Vietnam has contributed to the development of communities, society, and the economy by employing Vietnamese people and supporting local farmers. We have also strengthened the relationship and collaboration between Thailand and Vietnam by connecting the governments of both nations across diverse projects, including the Thai Festival at Tops market Vietnam, the Taste of Vietnam event in Thailand and business matching events to connect SMEs with potential partners. The company has also fostered the growth of import-export businesses between the nations to expand distribution networks. These efforts are in line with Central Retail’s vision to conduct business with sustainability across aspects, which is the guiding principle across operations in every market we’re in,” concluded Mr. Olivier.


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'x3ch2x3eLessons from the payments industry for the sharing and movement of datax3c/h2x3ex3cpx3eData provides a powerful reflection of a personx26rsquo;s unique habits, behaviours, interests and lifestyles. Every time a person makes an online purchase, browses through social media platforms, or searches for information and directions online, a unique data footprint is created.x3c/px3ex3cpx3eBusinesses and governments around the world are already applying x26lsquo;big datax26rsquo; to improve digital experiences and information for consumers. Consumers get personalised advertisements and notifications on our smartphones based on their digital activities. At the peak of the Covid-19 pandemic, many governments used smartphone-based location services to alert citizens who had been in close contact with Covid-positive individuals.x3c/px3ex3cpx3eIn theory, greater value is created when data sets from different platforms are combined to form a holistic picture of a personx26rsquo;s unique needs and expectations. Yet in reality, data sets tend to be fragmented as they come from different sources. Many organisations face the challenge of where to get data, what kind of data to get and how to make sense of it, as well as how to comply with privacy laws governing data collection, use and transfer of such data. There is still a lot to be done before data sharing and movement can thrive.x3c/px3ex3cpx3eThere are key lessons to be drawn from Visax26rsquo;s six decade-long experience in moving money as the industry builds a strong foundation for effective data movement. In 2021, Visa processed 165 billion transactions worth $10.4 trillion on its network. This was possible through its continuous investment in infrastructure, security and its strong partnerships with ecosystem players including banks, fintechs and merchants.x3cbr /x3ex3c/px3ex3ch2x3eVisa believes data sharing and movement must be secure, reliable and efficient - as it is for payments.x3c/h2x3ex3cpx3eTo achieve this, there are three key considerations:x3c/px3ex3cpx3eFirst, interoperable standards would greatly facilitate data sharing between companies and data movement and across borders. A common language is needed to bring consistency to the way different parties share their data so it will be easier for them to participate in the data economy. Visax26rsquo;s global, interoperable standards for payments have enabled consumers and merchants to make and receive payments using multiple currencies, channels, or form factors. Interoperable standards has always been an important foundation for the industry as a whole to deliver commerce innovations at scale.x3c/px3ex3cpx3eSecond is safety and security. Data is an asset that must be stored, protected and moved in the same secure way as money. Visa invests heavily in ensuring and enhancing the security of every payment. Leveraging AI and data-driven solutions, Visa prevented approximately US$26 billion of losses from fraud annuallyx3ca href=x22#link1x22x3e[1]x3c/ax3e. Its experience in payments security shows consumers will be far more likely to share their data if they trust the process to be safe and secure.x3c/px3ex3cpx3eThird, it is important to place the consumer journey at the heart of data sharing. Consumers are only willing for companies to share their data if they see tangible benefits and have enhanced experiences, especially as they become more attentive to how their data is used. The SG FinDex in Singapore is a good example of how data sharing benefits consumers. A one-stop platform was developed for individuals to access their financial information held by different government agencies and financial institutions, giving them a better understanding of their overall financial health and holistic financial planning.x3cbr /x3ex3c/px3ex3cpx3eA robust consent management approach is also important to the data sharing journey for consumers. Based on Visax26rsquo;s research, clarity and control is key to building consumer trust in the data sharing process. Consumers want to know what kind of data is being shared and with whom. Importantly, they want to be able to choose whether to x26lsquo;opt-inx26rsquo; every time their personal data is used beyond the original purposes that they signed up for. x26nbsp;x3c/px3ex3cpx3eWhile there is still a long way to go in facilitating greater data sharing and movement in Asia Pacific, Visax26rsquo;s experience with moving money shows a strong foundation needs to be built to accelerate the growth of the data economy. Today, Visa is starting to play a substantial role in shaping the future of the data sharing ecosystem. Through programs such as the Asia Pacific Visa Accelerator Programx3ca href=x22#link2x22x3e[2]x3c/ax3e, Fintech Partner Connectx3ca href=x22#link3x22x3e[3]x3c/ax3e and its ongoing venture investments, Visa actively invites ecosystem players to collaborate to drive the growth of data sharing and movement across the region and beyond.x3cbr /x3ex3c/px3ex0ax0ax3cpx3ex3ca id=x22link1x22x3e[1]x3c/ax3e x3ca href=x22https://href.li/?https://s29.q4cdn.com/385744025/files/doc_downloads/Visa-Inc_-Fiscal-2021-Annual-Report.pdfx22x3eVisa Fiscal Year 2021 Annual Reportx3c/ax3ex3c/px3ex3cpx3ex3ca id=x22link2x22x3e[2]x3c/ax3e Visax26rsquo;s Accelerator program in Asia Pacific is designed for entrepreneurs to quickly test and validate partnership opportunities through an accelerated Proof of Concept (POC) over the course of 4-6 months. x3ca href=x22https://href.li/?https://www.visa.com.sg/visa-everywhere/innovation/apaccelerator.htmlx22x3ehttps://www.visa.com.sg/visa-everywhere/innovation/apaccelerator.html x3c/ax3ex3c/px3ex3cpx3ex3ca id=x22link3x22x3e[3]x3c/ax3e Fintech Partner Connect is designed to enable Visax26rsquo;s issuing clients in Asia Pacific to access and complement Visax26rsquo;s suite of value-added services, connect to next-generation fintech platforms across the digital account journey, and work on solutions including digital onboarding, card management, security and compliance, loyalty and rewards, personal finance management and data and API services. x3ca href=x22https://href.li/?https://partner.visa.com/site/programs/fintech-partner-connect.htmlx22x3ehttps://partner.visa.com/site/programs/fintech-partner-connect.htmlx3c/ax3ex3c/px3e'

Lessons from the payments industry for the sharing and movement of data

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