Perfecting management work according to multi-supermarket model

In 2023, despite many challenges, Thiso Retail still exceeded its revenue and profit plans, demonstrating its effectiveness in management. In 2024, Thiso Retail continued to improve its human resources and implement a KPI-based performance management program to meet strategic requirements.

2023 is a year of many difficulties and challenges for the Vietnamese retail market, but Thiso Retail has fulfilled its mission and strategy well when opening the 3rd Hypermarket - Emart Phan Huy Ich in Ho Chi Minh City in early December and recorded a total revenue of 2,785 billion VND.

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Thiso Retail Deputy General Director Tran Vien Ngoc Oanh speaks at the 2024 Plan Implementation Conference

Vietnam remains one of the fastest growing consumer markets in Asia, with total retail sales of consumer goods and services increasing by 10% in 2023. “In 2024, it is forecasted that there will be signs of economic recovery, with retail market revenue expected to increase by 12% - 14%. Essential goods continue to be prioritized for purchase and price remains an important factor influencing consumers' purchasing decisions,” said Ms. Tran Vien Ngoc Oanh, Deputy General Director of Thiso Retail.

In that context, Thiso Retail aims to increase revenue by an average of over 30% annually. Continue to invest in expanding the hypermarket branch system to provinces/cities with a plan to open 3-5 supermarkets per year, aiming to have 15 stores nationwide by 2027. In 2024, Thiso Retail strives to achieve revenue of VND 3,900 billion, a 40% increase compared to 2023.

To achieve the above goal, Thiso Retail continues to adhere to the common strategy of THACO and THISO, creating a difference in the multi-industry strategy of THACO in general and THISO in particular; at the same time creating synergistic value for customers, partners and society. Thiso Retail's strategy aims to integrate and complement other member corporations in the multi-industry ecosystem of THACO and THISO.

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Customers shopping at Emart supermarket

Regarding management, in 2023, Thiso Retail reviewed and initially improved management according to the "multi-supermarket model", improving the supermarket operation management apparatus at the Operations Block - Executive Office. At the same time, training and developing human resources, successfully opening Emart Phan Huy Ich supermarket. In 2024, Thiso Retail continued to upgrade management, moving towards expanding the chain of hypermarkets nationwide. Perfecting the salary and income framework, KPI bonus policy, and human resource policies according to THISO standards. Completing the implementation of effective work management according to KPI for each individual.

Regarding human resources, by the end of 2023, the total number of Thiso Retail employees is 1,286, the plan is to increase the total number of employees to 1,349 by the end of 2024. Strengthen training and control of operating standards at branches according to the general operating standards of Emart Korea and the specific standards of Thiso Retail (Emart VN). Develop leadership and potential human resources to prepare the succession and expansion of the human resources structure for branches and offices in the Region.

With a strategy built on the philosophy of “taking customers as the center”, Thiso Retail always provides better products and services – cheaper prices, aiming to become the leading supermarket chain in Vietnam, orienting towards a modern lifestyle, providing different, diverse products, competitive prices with good quality, bringing consumers a convenient shopping space.

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