Saigon Co.op continuously opened many new outlets in 2024, aiming to develop 154 new outlets in 2025 - Photo by QUANG DINH
On March 17th, at the conference summarizing business activities and Party building work in 2024 and outlining directions for 2025, the Ho Chi Minh City Commercial Cooperative Union (Saigon Co.op) set a target of achieving e-commerce sales of 3,500 billion VND in 2025, a 30% increase compared to the same period.
Saigon Co.op's new e-commerce platform is expected to officially launch in the first half of 2025, hopefully helping Saigon Co.op enhance its competitiveness in the retail market and effectively reach potential young customers.
The plan sets a growth target of around 6% for 2025, but the unit is implementing various solutions to aim for double-digit growth while ensuring a sustainable development foundation for the period from 2026 onwards.
Mr. NGUYEN ANH DUC (General Director of Saigon Co.op)
Overcoming challenges, reaching a revenue milestone of 30,000 billion VND.
In 2024, despite numerous challenges facing both the global and domestic economies , Saigon Co.op persevered, achieving revenue of nearly 30,000 billion VND, maintaining gross profit, generating additional rental income, and controlling costs.
Notably, in 2024, Saigon Co.op's sales received over 10% contribution from e-commerce, growing by nearly 50% compared to the same period; Co.op's private label products grew by 7% compared to the same period.
Regarding network development in 2024, all of Saigon Co.op's distribution models, including Co.opmart, Co.opXtra, Co.op Food, Co.op Smile, Finelife, and Cheers, will open new outlets, contributing to an increase in the company's retail area.
In particular, new retail outlets such as Co.opmart Pham The Hien, Co.opXtra Long Binh, Co.opXtra Ta Quang Buu, and Finelife Lumiere An Phu are operating in a streamlined manner, applying innovative improvements and modern artificial intelligence technology to provide optimal customer experiences.
Over the past year, Saigon Co.op has continuously expanded its market stabilization and supply-demand connection activities to ensure a supply of goods at reasonable prices for the people.
The company has deployed more than 473 mobile sales trips to remote areas, industrial zones, and export processing zones, helping people access price-stabilized goods, especially in the context of a volatile market.
In addition, Vietnamese retailers continue to affirm their pioneering role in environmental protection activities with many meaningful programs such as: "Green Consumption", "Product Quality Control in Ho Chi Minh City - Green Tick for Responsibility" and the "Green Living" movement.
These activities not only raise public awareness about sustainable consumption but also promote the trend of using environmentally friendly products and minimizing waste.
In addition, Saigon Co.op actively participates in a series of cooperation programs for socio-economic development between Ho Chi Minh City and provinces and cities nationwide.
Through cooperation agreements, businesses have strongly developed their supply chains and goods distribution, helping to connect sources of goods from many localities to their retail systems such as Co.opmart, Co.opXtra, Co.op Food, etc.
Through this, Saigon Co.op not only contributes to promoting trade but also ensures a rich and stable supply of goods for consumers nationwide.
In 2024, Saigon Co.op officially launched a new business area with the opening of Charmant Suites Can Tho Hotel; and commenced construction of a commercial and office project at 102 Nam Ky Khoi Nghia Street, Ben Nghe Ward, District 1, Ho Chi Minh City, completing the puzzle of investment, development, management, and operation of commercial real estate.
Digital transformation, improvements in logistics operations and warehousing systems continue to be prioritized and promoted, combined with product restructuring, proactive participation in and implementation of various trade promotion activities; implementation of unique and specific programs within the Saigon Co.op system; continued efforts to promote and develop raw material areas; and gradual adaptation to the "green transformation" trend...
Three strategic pillars for high growth.
Speaking about growth targets for 2025, Saigon Co.op General Director Nguyen Anh Duc said that the plan sets a growth target of about 6%, but the company is implementing many solutions to aim for double-digit growth, while ensuring a sustainable development foundation for the period from 2026 onwards.
Sharing more about this "ambition," Mr. Nguyen Anh Duc said: The growth rate of the trade, service, and retail sectors is typically about 1.5 times higher than GDP. With a projected GDP growth of around 8% in 2025, the retail and trade, service, and trade sectors could achieve a growth rate of 12-14%.
This aligns with the trade development strategy issued by the Government in recent times. Based on that foundation, Saigon Co.op is leveraging every opportunity and trend to promote development in 2025.
To achieve breakthrough yet sustainable growth, Saigon Co.op has identified three key pillars that need to be changed and improved. These will focus on restructuring the product portfolio: the company will continue to optimize its product structure and improve product quality to meet the diverse needs of customers.
Secondly, it involves developing services and improving the customer experience by enhancing service quality and optimizing operational processes. Finally, it involves innovating the business model by adopting flexible business models that create added value for customers and partners.
Businesses will leverage the advantages of their physical store system to develop an online retail model that differs from purely e-commerce platforms. At the same time, Vietnamese retailers are also committed to accelerating digitalization and digital transformation in line with Resolution 57, aiming to improve operational efficiency and enhance customer experience.
"One of the key elements in implementing Resolution 57 is promoting innovation, while simultaneously carrying out organizational restructuring to create a more robust development space," the General Director of Saigon Co.op further explained.
In addition, the company focuses on differentiation strategies through market segmentation and specific business models tailored to each geographical area. Strengthening operational discipline is also prioritized to optimize costs, increase profitability, and create a foundation for sustainable development.
Ultimately, Saigon Co.op will undertake organizational restructuring, opening up new growth opportunities while simultaneously promoting innovation to strengthen its competitive advantage in the market.
According to Mr. Nguyen Anh Duc, to achieve high growth, it is impossible to rely solely on the growth rate of previous years; comprehensive innovation is needed. This includes innovation in culture and digitalization to create differentiated value.
At the same time, the system must restructure its business operations to optimize efficiency and create greater growth potential.
"To concretize the goal of double-digit growth, Saigon Co.op is implementing nine key projects based on current challenges and development trends in the industry."
These projects not only help Saigon Co.op achieve its business goals but also make a positive contribution to the development of the trade, service, and retail sectors in Vietnam.
"We want to contribute and create a positive impact on the national GDP growth and Ho Chi Minh City's GRDP in the coming time," Mr. Nguyen Anh Duc affirmed.
Nine foundational projects and drastic reforms in 2025.
1. Promote effective business operations.
2. Raise the standards of the shopping environment.
3. Major overhaul of Co.op Food and its small business model.
4. E-commerce transformation.
5. Complete the information technology projects.
6. Improve the warehousing and logistics system.
7. Reforming the commodity market.
8. Sales point development reserve fund.
9. Structured organization should be streamlined, compact, strong, efficient, effective, and efficient, in accordance with Resolution 18-NQ/TW.
Source: https://tuoitre.vn/saigon-co-op-dat-muc-tieu-tang-truong-2-con-so-trong-nam-2025-20250317224915755.htm
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