The Saigon Union of Trading Co-operatives (Saigon Co.op) has set a target of having 1,000 outlets by the end of this year.

Speaking at a review meeting on March 27, Diep Dung, its chairman, said besides expanding its retail systems such as Co.opmart, Co.opXtra, Co.op Food, Co.op Smiles, and Cheers, it will also launch a new retail model targeting wealthy customers and enhance the use of technology to keep up with modern retail trends and customers’ demands.

To cope with the fierce competition in the market and retain its position as the leading consumer sector retailer in Viet Nam, Saigon Co.op will also focus on expanding its distribution networks and goods portfolio and improving its logistics system.

The sharp rise in property prices last year had caused difficulties for many retailers hoping to open new stores, but Saigon Co.op managed to open more than 160 to take the total number of its total stores to over 650.

Pham Thanh Kien, director of the HCM City Department of Industry and Trade, hailed the co-operative’s achievements, saying it had contributed greatly to the city’s economic development.

He urged it to focus on both expanding its network in HCM City and elsewhere and enhance co-operation with local producers to bring more products to customers at reasonable prices. — VNS