Saigon Co.op to focus on optimising business efficiency

Wednesday, Mar 01, 2023 13:18

Saigon Co.op’s management is determined to realise the business targets set for 2022. — Photo courtesy of Saigon Co.op

The Saigon Union of Trading Co-operatives (Saigon Co.op) eyes sales growth of 4 per cent this year and continuing with its digital transformation efforts.

Nguyen Anh Duc, its general director, told a review meeting in HCM City on Tuesday that revenues reached VND30.9 trillion (US$1.3 billion) last year.

It was the only retailer in Viet Nam to achieve growth last year, he said.

Online sales had been worth VND1.2 trillion ($50.4 million), or 4.4 per cent of total revenues, higher than its target of 3.5 per cent.

Exports fetched VND70 billion, with agricultural and fisheries products accounting for most of it.

Saigon Co.op opened 34 Co.op Food and Cheers stores last year.

To maintain its leading position, this year Saigon Co.op plans to focus on reforming sourcing and pricing strategies, restructuring its organisation, digitising management, and shutting down unprofitable stores.

It also plans to develop its private label products, e-commerce and logistics.

Bui Ta Hoang Vu, director of the HCM City Department of Industry and Trade, praised Saigon Co.op for its achievements last year, saying it had contributed greatly to the city economy.

He advised it to train human resource for logistics development. — VNS

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