Retail businesses "aggressively" increase benefits for consumers

According to the General Statistics Office, retail sales of goods in July 2024 are estimated at VND 48,487 billion, up 4.6% compared to June and up 13% over the same period. This figure is forecast to make a breakthrough in the last months of the year thanks to increased purchasing power. To meet the essential needs of customers, retail businesses are in a "race" with attractive stimulus strategies and programs. Product prices are clearly listed, quality is guaranteed, shopping space is clean and airy, enthusiastic service staff, integrating many items for convenience in choosing... Those are the reasons why consumers today have switched from traditional shopping habits to modern supermarket and retail store models. Grasping that behavior and habit, retail models are increasingly developing and changing every day to meet the needs of customers. WinCommerce (the governing body of the WinMart/WinMart/WiN system) is currently the largest modern retail chain in Vietnam with more than 3,673 points of sale nationwide. It can be seen that after taking over the system, WinCommerce (WCM) has focused on upgrading, improving, and converting stores into many different models to suit each operating location, aiming for profitable retail chain growth. Accordingly, WinCommerce has built a diverse retail model. WinMart is built as a supermarket system serving the customer segment who wants to experience a large, modern shopping space with a full range of items from food, household appliances, F&B to products and financial services. Meanwhile, WiN and WinMart stores in urban areas focus on providing a fast, modern shopping experience for customers with busy lifestyles and prioritizing convenience. As for WinMart Rural in rural areas and suburban areas, it focuses on fast-moving consumer goods with the criteria "Cheaper - Better quality".

Abundant sources of goods to meet customer needs.

Programs within the “good price” strategy across the system are also continuously deployed. For example, on the occasion of National Day September 2 this year, WinMart supermarket system, WinMart / WiN stores will deploy a series of “SUPER CHEAP PRICE” promotional programs to meet consumers’ shopping needs. In addition, WinCommerce has also proactively cooperated with domestic and foreign brands to bring quality products, compete on price, and increase incentives for consumers. Previously, in the first week of August, WinCommerce coordinated with Masan Consumer to organize “Chin-Su Chili Sauce Brand Week” at all supermarkets and stores across the system. During this time, customers can buy Chin-Su chili sauce products at a discount of up to 50% and receive a free 2m-high Chin-Su chili pepper with the order with the highest cumulative value of Chin-Su chili sauce at the point of sale. In addition, to help customers save more on their shopping, WinCommerce launched the WiN Membership program, which offers 20% savings on WinEco and MEATDeli products, which has also attracted a large number of consumers. To date, WiN Membership has attracted 10 million registered customers, aiming to reach 30 million members in the next 5 years. Membership customers' shopping cart value is double that of non-members, and the average shopping frequency is four times/month.

Customers shop at a WIN store.

Assessing the year-end market, food consumption will increase, WinCommerce has also proactively worked with suppliers to ensure that goods reaching consumers are of the best quality and price. In particular, WinCommerce's system always prioritizes Vietnamese goods, accounting for 90% of all products in the system. WinCommerce's representative also said: "Our retail system always prioritizes Vietnamese goods, especially agricultural products, regional specialties, green vegetables, and fresh fruits to promote Vietnamese cuisine. At the same time, WinMart also adds a certain source of imported goods to help diversify products, better meeting consumer tastes. Previously, products with retailer brands were often "wary" compared to regular branded goods, but that has changed. When the retailer's brand is strong, products with their own brands will also gain the trust of consumers. Kantar Worldpanel's research shows that about 38% of Vietnamese people have purchased private label products because they trust the retailer. WinCommerce is not only a retailer, but also a manufacturer of consumer goods and food with a closed production process and high-quality output products. This is also WinCommerce's advantage in proactively controlling product quality and prices in the face of market fluctuations. The four typical private labels of this retailer include: WinMart Good (dried food); WinMart Cook (processed food); WinMart Home (household goods); WinMart Care (personal care) which are currently 10-20% cheaper than products in the same segment on the market. After completing the restructuring phase in 2023, WinCommerce has had positive changes since the beginning of 2024. Accordingly, WinCommerce brought in VND 7,844 billion in revenue, an increase of 9.2% in the second quarter of 2024 compared to the same period last year. Notably, this enterprise has just announced that it continued to achieve net profit in July, the second consecutive month of profit after 10 years of operation. According to the enterprise's report, WinCommerce's strategic focus in the second half of 2024 is to continue to focus on the goal of improving profits by accelerating LFL growth rate to 8-9% over the same period, while accelerating store opening speed to reach ~100 new stores per quarter. WinCommerce will continue to strengthen its position in rural areas with the WinMart Rural model. The WiN Membership Program will be optimized to bring value to Masan 's ecosystem as well as partner brands. Source: https://nhandan.vn/doanh-nghiep-ban-le-manh-tay-gia-tang-loi-ich-cho-nguoi-tieu-dung-post827324.html