Saigon Co.op targets 30% growth in online sales

Saigon Co.op targets 30% growth in online sales

The Saigon Union of Trading Cooperatives (Saigon Co.op) has set itself a target of achieving VNĐ3.5 trillion (US$137 billion) in e-commerce sales this year, marking an increase of 30 per cent over 2024.

Saigon Co.op was honoured with the Emulation Flag from the Vietnam Cooperative Alliance, recognising its outstanding contributions to the cooperative movement. — Photo courtesy of Saigon Co.op

Nguyễn Anh Đức, its general director, told a review meeting in HCM City on 17 March that Saigon Co.op's new e-commerce platform was expected to officially launch in the first half of 2025.

The platform aims to enhance the company’s competitiveness in the retail market and effectively engage young consumers, according to Đức.

Based on a comprehensive assessment of economic and social development, market trends and internal challenges, Saigon Co.op is targeting sales growth of 4-6 per cent this year and 10 per cent in future.

In terms of profitability, the retailer aims to maintain or exceed 2024 levels and to expand its retail network by opening 154 new stores across its various chains.

In 2024, Saigon Co.op overcame significant challenges in both global and domestic markets to achieve impressive revenues of nearly VNĐ30 trillion (US$1.74 billion). A key factor in this success was the strong performance of e-commerce, which accounted for over 10 per cent of sales and saw nearly 50 per cent growth.

All of Saigon Co.op’s retail chains—Co.opmart, Co.opXtra, Co.op Food, Co.op Smile, Finelife, and Cheers—expanded with new store openings.

The company also prioritised digital transformation, logistics and warehousing improvements, and product restructuring, while progressively adapting to the "green transition" trend.

Beyond its business operations, Saigon Co.op remained actively engaged in community initiatives, launching the Co.op Cares platform and implementing over 150 social projects last year.

Saigon Co.op was honoured with the Emulation Flag from the Vietnam Cooperative Alliance, recognising its outstanding contributions to the cooperative movement. — Photo courtesy of Saigon Co.op

Nguyễn Nguyên Phương, deputy director of the city's Department of Industry and Trade, speaking at the meeting, praised the cooperative’s achievements.

He highlighted Saigon Co.op’s crucial role in ensuring reliable food supply for the city and its contributions to social and economic development.

He emphasised the importance of adopting technology in management and operations to enhance business efficiency and keep pace with market trends.

He encouraged Saigon Co.op to strengthen its partnerships with other businesses, creating a comprehensive ecosystem that maximises revenues and supports both the city and country’s retail development strategies. 

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