Saigon Co.op's e-commerce revenue reached nearly 1,700 billion VND

Saigon Co.op 's online sales in 2023 reached nearly 1,700 billion, up 19.5% over the same period. The system's goal in 2024 is to increase online sales to 3,000 billion VND.

Saigon Co.op is making a strong shift in online retail channels - Photo: QUANG DINH

On the afternoon of March 3, the Ho Chi Minh City Union of Trading Cooperatives (Saigon Co.op) held a conference to review business activities, Party building work in 2023 and directions for activities in 2024. Mr. Nguyen Anh Duc, General Director of Saigon Co.op - said that at the end of 2023, in a situation where the domestic economy was under great pressure from many domestic and international economic fluctuations, competition from rivals as well as internal difficulties, Saigon Co.op still maintained sales of nearly 30,000 billion VND. This result was achieved thanks to good cost control, ensuring business efficiency in a context where there are still many difficulties. Accordingly, the estimated profit for the whole year of 2023 still fulfilled the set plan target. In particular, last year, online sales reached nearly 1,700 billion, an increase of 19.5% over the same period. According to Mr. Anh Duc, in the past time, Saigon Co.op has focused on completing the orientation and preparing human resources for e-commerce in the period of 2024 - 2025 to create greater momentum, keeping up with the general development trend of the market. "Last year, we focused on building standardized operating procedures, implementing communication activities, promotions to attract customers, developing e-vouchers, online payments... This is the foundation for developing this sales segment in the coming time," said Mr. Anh Duc. According to Mr. Duc, Saigon Co.op aims to increase revenue by 6 to 7% in 2024 compared to 2023. This is considered a high goal in the context of many economic difficulties and challenges in purchasing power in the market. In line with this goal, Vietnamese retailers have also proposed many specific groups of solutions such as increasing the total number of points of sale in the market from 800 to 900 points of sale, improving customer-oriented services and developing value-added services. In particular, promoting digitalization, increasing online sales to VND3,000 billion, forming a group of goods and services with specific characteristics which are the strengths of Saigon Co.op, while maintaining and increasing the number of customers to more than 6 million members. Speaking at the conference, Mr. Nguyen Van Dung, Vice Chairman of the Ho Chi Minh City People's Committee, highly appreciated the role of Saigon Co.op in leading the market, providing consumers with quality products at good prices. The city's leaders also expect Saigon Co.op to effectively apply the breakthrough policies and guidelines from Resolution 98 to accelerate development and remove existing obstacles.

Nhu Binh