Despite a challenging 2023, Thiso Retail's effective management strategies enabled them to exceed both revenue and profit targets. Looking ahead, they plan to further empower their workforce and implement a KPI-driven management program to ensure alignment with strategic goals in 2024.

Overcoming a challenging 2023 in Vietnam's retail market, Thiso Retail achieved its goals and strategic plans. This included the successful opening of their third hypermarket, Emart Phan Huy Ich, in Ho Chi Minh City in early December. They also secured a total revenue of VND2.785 trillion.

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Thiso Retail Vice President Tran Vien Ngoc Oanh is making a speech at the 2024 Business Plan Conference

Vietnam's consumer market is emerging as one of Asia's fastest-growing, boasting a 10% increase in total retail sales of goods and services in 2023. "2024 forecasts signal an economic rebound, with the retail market projected to surge by 12-14%. While essential goods remain a priority for consumers, price will continue to be a significant driver of purchasing decisions.," said Ms. Tran Vien Ngoc Oanh, Thiso Retail Vice President.

Thiso Retail sets growth targets for 2024 and beyond. They aim to achieve an average annual revenue growth exceeding 30%, fueled by the expansion of their hypermarket chain across Vietnam. Plans include opening 3-5 new hypermarkets annually, reaching a total of 15 stores nationwide by 2027. In 2024 alone, Thiso Retail is striving for a revenue of VND 3,9 trillion, representing a 40% increase compared to 2023.

To achieve these goals, Thiso Retail aligns closely with the broader THACO and THISO’s strategies, ensuring a distinctive approach within those strategies, creating synergistic value for customers, partners and society. Thiso Retail's strategy focuses on integration and complementation with other Sub-holdings in the multi-industry ecosystem of THACO and THISO.

In terms of management work, in 2023, Thiso Retail reviewed and initially modernized its management work according to the "hypermarket chain model", strengthening the supermarket management system at the Operation Division - Head Office. In addition, it trained and developed human resources and successfully opened the Emart Phan Huy Ich. Building on this success, Thiso Retail's 2024 goals include: enhance and refine management practices, expand the hypermarket chain nationwide, implement standardized salary, KPI bonus structures and HR policies aligned with THISO's standards, and implement a system for measuring and managing work efficiency based on individual KPIs.

 

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Customers are shopping at Emart hypermarket

Thiso Retail ended 2023 with 1,286 employees and projects this number to reach 1,349 by year-end 2024. The company prioritizes training and enforcing operational standards based on both Emart Korea and Thiso Retail (Emart VN) guidelines. Additionally, they invest in leadership development and talent pipelines to support future staffing needs associated with branch and office expansion across the region.

With its strategy built on the "customer-centric" philosophy, Thiso Retail always offers quality products at the best price, aiming to become the leading hypermarket chain in Vietnam, providing a modern lifestyle with differentiated, diverse products at competitive prices with good quality, and bringing consumers a convenient shopping space.