Celebrating 28 years in Thailand, Lotus stands as one of the modern trade industry, extending into New Smart Retail, taking on new online and branch stores. with a budget of over 200 million baht to send a thank-you campaign to customers across the country
Sompong Rungnirattisai Chief Executive Officer, Lotus Thailand Business, has been the leader driving Lotus retail since the beginning. or work equivalent to the path of growth Lotus changes as well, the history of the past in the 1.0 era retail business when modern department stores emerged. There are many amenities to please those shoppers. Target Consumers until the service parade is congested like a “Taek Taek”
When entering the 2.0 era of retail, department stores are more modern. It is a small-medium mall. respond to community When entering the 3.0 era, “online” has been more active for about 10 years, with Lotus being one of the first retailers to launch a game to penetrate the market. While it is currently retail in the 4.0 era, the shop style, shopping has become More “multi-format”, including large stores, hypermarkets supermarket convenience store mini supermarket and online etc.
In addition to Shopping 4.0, retailers must focus on building an “omnichannel” trading platform connecting the offline-online world. Let the target group buy more tasteless products.
Growth from the first day to the 29th year, what has always been the key to Lotus’s “success” Sompong has given it to Agile or moving retail with flexibility, agility, agility, under a competitive business context. Consumer needs change all the time.
“Moving a retail business is difficult in every era. But in the early days, it was easy that consumers were already waiting. Entrepreneurs are just planning to expand the store. Now the competition is high therefore need to adjust quickly Because the difficulty in this era is speed or speed.”
Big goals Lotus aims to become “New SMART Retail” by 4 strategies that will continue to grow as follows buy goods especially as a point of reinforcement “Online shopping” where consumer behavior demands “speed” more and more. And it’s a puzzle that drives online sales to 20% in 3 years from now only 5%.
“The world trend is competing in delivering products to customers as quickly as possible. Whoever is close to the target group will have an advantage.” In addition, more than 2,700 Lotus branches are ready to act as warehouses (Fulfilment). Center) entered to the target audience. Whatever you want, sell them all without having to “stock” the products at the storefront. because in the past some products customers cannot buy because the storefront does not have space to stock products
2. Change the old shopping mall model to be a “Smart Community Center” or a mall that fills restaurants, shops, exercise venues, and responds to consumers’ lifestyles rather than just buying products. by the new model The first branch at “North Park” Ratchaphruek will open in November.
for model mall It will range in size from 1,000 square meters (square meters) to “tens of thousands” square meters, depending on the location and the target audience. The investment ranges from 20 million baht to more than 100 million baht per branch.
“In the past, the development of retail stores created a format that was able to expand quickly, but now there must be more designs. Within 3 years, 146 branches will be converted to smart community centers. This will cost an investment of about 3 billion baht. The new model will take customers 1-2 hours longer, compared to 30 minutes for a traditional department store to make a purchase.”
3. Adopt technology Enhance Big Data Since Lotus has a member base of “My Lotus” over 23 million accounts, it will be analyzed and marketed to offer products that meet more personalized or personalized target groups, using artificial intelligence (AI) technology to help in product presentations. Promotion to meet the needs of each person. including adjusting the shop to suit the target customers in each area, etc.
And finally, 4. Retail stores are about selling products to consumers. The selection of products to meet the target audience is very important. In the future, each branch will be “different” and will see the upgrade of house brands expanding to more premiums. which currently starts in 10 branches
each year lotus There is an investment budget 12,000-15,000 million baht per year, including branch expansion and digital technology will drive Lotus sales to a “faster” growth rate, which normally grows sales at the 2-digit level per year.
In addition, to celebrate the occasion of the 28th anniversary of Lotus, it has invested a budget of more than 200 million baht, organizing a large campaign both in-store and online with a maximum 40% discount from 29 September to 2 November 2022 to meet customers.
