Masan 2024: Success with a consumer-centric strategy

2024 is a challenging year for Vietnam's socio-economy. Although the recovery rate is not considered too fast, the retail consumer market has initially shown positive signs and is forecast to have more potential for breakthroughs in the coming time.

Chin-su products are popular in the Japanese market.

Therefore, businesses are always facing challenges, forcing them to have many strategies and products to maintain consumption growth momentum, improve quality and attract consumers. In particular, Masan Group stands out with its consumer-centric business strategies and goals. Promoting the synergy from the consumer-retail platform In Vietnam, Masan's retail segment, WinCommerce, is a modern retailer with the leading advantage in scale with nearly 4,000 points of sale serving all consumer segments from urban to rural areas combined with the strength of consumer goods production of Masan Consumer (a member company of Masan) and owning an internal logistics company, Supra. This creates many opportunities for WinCommerce to dominate the "race" for domestic retail market share. Supra's distribution center system (Distribution Center - "DC") includes 10 warehouse clusters (including 6 dry warehouse clusters and 4 cold warehouse clusters). This unit applies transportation planning and optimization technology to transportation management. According to Masan's management, Supra has supported the WinCommerce retail system to reduce costs by 11%. In addition, WinCommerce also maintains 90% of Vietnamese products across the entire system, acting as a bridge to help domestic businesses and manufacturers bring high-quality products to more than 30 million customers each month. This is also a plus point for WCM to get closer to the trust of consumers, aiming at the goal of Vietnamese people using Vietnamese products. In particular, WinCommerce's WiN Membership program has now reached 10 million members. As prices escalate, the loyalty program is increasingly favored by consumers because they can both save money when shopping and benefit from the reward points program and attached utilities. It can be said that in 2024, WinCommerce will have the right pieces in place to succeed in the Vietnamese market. Affirming the appeal of Vietnamese cuisine through each quality product Contributing to the positive results of the "giant" in the retail consumer industry in 2024 is Masan Consumer (Stock code: MCH), one of the largest consumer goods companies in Vietnam. In 2024, MCH continued to achieve positive revenue growth. This was contributed by the premiumization strategy implemented in the Convenience Food and Spices industry. In addition, the Go Global strategy of this enterprise also achieved promising numbers with export revenue continuing to grow, reaching an increase of 17% over the same period last year. 2024 marked a special mark for Chin-Su chili sauce products when it continuously brought home many awards: Chin-Su became the "Golden Brand of the Youth" - an award voted by young people at the Ho Chi Minh City Golden Brand Awards ceremony, reaching the Top 1 on the Coupang e-commerce platform in Korea. Most recently, Chin-su has shone, appearing spectacularly on giant billboards in Myeongdong - the largest shopping paradise in Seoul, Korea and the Glico sign area - the symbolic location of the bustling culinary district of Dotonbori, Osaka, Japan. This success is also a testament to MCH's tireless efforts in diversifying products, creating and improving to meet the increasingly diverse consumption needs of consumers. The brand of cold-cured meat with European technology is trusted by Vietnamese people . Cold-cured meat is extremely popular in Europe, and is also gradually appearing more in the lives of Vietnamese consumers because of the benefits of softness, freshness, ease of purchase and preservation, very suitable for the busy lives of urban people.

Chilled meat is produced using European technology at the MEATDeli chilled meat processing factory complex.

Currently, consumers can easily choose to buy MEATDeli branded chilled meat (a brand of Masan MEATLife) at major supermarket chains in Vietnam nationwide such as WinMart, WinMart stores with a variety of meat products. In particular, MEATDeli chilled meat is the first meat brand to meet BRC standards. This is a global standard for food safety established by the British Retailer Consortium. To be certified to meet BRC standards, manufacturers must meet requirements such as commitment to improvement, food safety, and clear traceability of origin information.

Since 2023, with a strategy focusing on the processed meat industry, in addition to MEATDeli, MML also owns a series of quality processed meat products such as: ham, sausage, pork floss, dried chicken, pork skin rolls... which have been positively received by consumers. In particular, two strong brands, Ponnie and Heo Cao Boi, have achieved ~50% market share in the sterilized sausage product market. The affirmed position has turned MEATDeli into a "leading product" - a product that can attract consumer traffic to the store. MML, with a competitive price strategy, including an exclusive price program for WIN members, helps narrow the price gap between MEATDeli products and meat at traditional markets, thereby increasing output and capacity for processing plants. It can be said that through consumer-centric business strategies, Masan has strived to create values ​​by accompanying consumers with quality products and services at reasonable prices. With that goal, Masan has been on the right track to increasingly gain trust and become the preferred choice of consumers. Source: https://nhandan.vn/masan-2024-thanh-cong-voi-chien-luoc-dat-nguoi-tieu-dung-lam-trong-tam-post848113.html