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Saigon Co.op plans to grow revenue by more than 10% this year, targeting 35 trillion dong, a record high, according to Ms. Ho Thi Hong Dao, the company’s Marketing Director. The target was shared with VNExpress on April 23 on the sidelines of a corporate event.
Dao said that if the plan is achieved, Saigon Co.op’s revenue would exceed 35 trillion dong, compared with the 30-32 trillion dong range the company has maintained in recent years.
She attributed cost pressures to the ongoing conflict in the Middle East, which has driven up energy, transportation, and input costs. In response, many suppliers have sought price adjustments. Saigon Co.op said it has kept prices stable across its network while increasing promotions on essential items to support consumers’ purchasing power.
From the start of the year to date, purchasing power across the system has risen by double digits.
The company expects about 15% year-on-year growth in Q1, supported in part by the Lunar New Year (Tet) holiday falling early in the year.
Saigon Co.op’s network currently has about 3 million loyal customers, accounting for 65-70% of revenue.
For the upcoming Labour Day holiday on April 30, Saigon Co.op plans promotions to spur consumption, with discounts of up to 50% focused on essentials, fresh foods, household goods, and personal care products.
The company will run weekly discount programs for fresh produce, with regional discounts of 30-40% depending on the area. Inventory levels have been raised nearly double compared with ordinary days.
After 30 years of development, Saigon Co.op has expanded from a single supermarket in 1996 to more than 130 supermarkets and about 800 points nationwide, operating formats including Co.opmart, Co.op Food, Co.op Smile, and convenience stores.
The network covers Ho Chi Minh City, southern provinces, the Mekong Delta, and the central region, and is continuing to expand northward. The company said it maintains about 90% Vietnamese-sourced goods in its assortment.
Saigon Co.op also plans to open about 100 new outlets this year to increase coverage.
The chain is working to reduce plastic usage by gradually switching to environmentally friendly materials. It is replacing items such as plastic cups and bowls with more durable materials, and for own-label products, it is switching packaging to biodegradable bags.
It also offers alternatives to replace nylon bags with cardboard boxes, giving customers additional options when shopping.
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