Currently, to fully exploit the market potential, mobile retail businesses (smartphones) are expanding into new industries, diversifying their business products. However, this is not easy, requiring each business to build its own strategy in accordance with its development orientation.
Although occupying less than 10% of the store area, sales from health care product display booths of a smartphone retailer contributed up to 5% of the business's total revenue after only 3 months of opening.
This result far exceeded initial expectations when the company decided to expand its operations. This is also the strategy that many other smartphone retailers are applying to diversify products and exploit the potential of new markets.
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| Multi-industry business is a new trend for smartphone retail businesses. Photo: TK |
Ms. Dang Linh Phuong - Director of Mobile World - said: "Initially, when I started this product group, I didn't have much expectation, the purpose was just to meet the needs of customers. But after a while, especially after 3 months, revenue improved, contributing 5% to the total revenue of the whole company. Seeing that positive thing, I will continue to expand and develop deeper into the health and beauty product group."
Assessing the market potential in combining multi-industry business, Mr. Nguyen The Kha - Commercial Director of FPT Shop system - shared: "Through a process of market purification, we realized that the market potential is very large, such as household electrical appliances account for about half of the market share of technology-related devices including: smartphones as well as computers. That is a very large playground for us to participate in" .
The potential is there, but expanding into another field is not a strength and approaching new customer segments brings many challenges. This requires businesses to reposition their brands, transforming from a familiar image to customers to a new field. To overcome this challenge, many businesses have focused on customer consulting services, while some other businesses choose to combine with partners in the same field.
According to Ms. Dang Linh Phuong - Director of Mobile World - shared: “When we opened a new product group, we received some feedback from customers asking why a store with such a system would sell a health and beauty product. Somehow, customers could not imagine that, but after experiencing and buying the products, they knew that Di Dong Viet not only sells phone products but also sells products that help customers protect their health.”
“In the technology-focused shops, we have technology-oriented devices, electronics and household appliances. In the suburban shops, we will expand the line-up of goods, household appliances and electronics for customers to have more choices. In particular, in the near future, we will have areas and independent shops selling household appliances to ensure clear brand recognition with our shop systems,” said Mr. Nguyen The Kha - Commercial Director of FPT Shop system.
Multi-industry business is becoming a trend that smartphone retailers are implementing. In the context of declining phone retail sales from 2023, this is not only a solution to maintain competitiveness but also promises to open up great opportunities in the near future.
Source: https://congthuong.vn/kinh-doanh-da-nganh-nghe-xu-huong-moi-doi-voi-doanh-nghiep-ban-le-smartphone-351333.html
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