Saigon Co.op eyes 10% sales growth
Saigon Co.op eyes 10% sales growth
The country’s leading retailer, Saigon Co.op, hopes to increase sales by 10 per cent this year.
Despite intense competition, the co-operative achieved all its targets last year, with revenues reaching nearly VND30 trillion (US$1.31 billion) and exports via its Co.opXtra hypermarket, a joint venture with Singapore, growing by 30 per cent.
It opened 130 new Co.opmart supermarkets, Co.op Food stores and Sense City and Co.opSmile convenience stores last year.
In 2018, to cope with the fierce competition in the market and retain its position as the leading consumer retailer in Viet Nam, Saigon Co.op will focus on developing distribution networks and logistics services.
This year, it plans to open 19 Co.opmart, two Co.opXtra, 170 Co.op Food, 150 Co.opSmile and 50 Cheers outlets.
It will also open an outlet of Co.opmart Finelife, its new business targeting wealthy customers, and develop omni-channel retailing.
Saigon Co.op is also focusing on creating a friendly supermarket environment, green brands, organic products, greater use of information technology in management, strengthening its supply chain, human resources, and logistics.
Speaking at a Saigon Co.op review meeting on April 5, Nguyen Quynh Trang, deputy director of the HCM City Department of Industry and Trade, hailed the co-operative’s achievements, saying it had contributed greatly to the city’s economic development.
She called on the company to focus on both expanding at home and strengthening co-operation with foreign partners to sell Vietnamese goods abroad.
