Innovation at centre of AEON’s growth

Vietnam’s authorities has set the excessive financial goal to be equal to Thailand sooner or later. Additionally they have supportive insurance policies for funding and creating beneficial circumstances for overseas funding. Furthermore, Vietnam is a rustic that already has a powerful relationship with Japan.

Innovation at centre of AEON’s expansion
Furusawa Yasuyuki – Basic director, AEON Vietnam

Nevertheless, we nonetheless face some difficulties increasing our enterprise in Vietnam. With the mission of enriching the purchasers’ life and the native communities the place AEON locates, our technique for procuring malls is to prioritise suburban areas. However, the infrastructure in such areas has not developed sufficiently sufficient but.

Apart from that, some guidelines aren’t but clear when it comes to overseas funding, though the limitation of foreign-invested enterprises in retail was overhauled over a decade in the past. As well as, the potential of home suppliers is unequal, however on the identical time buyer expectations get larger and better.

It’s troublesome to match the enterprise scenario with the earlier 12 months as a result of there are a lot of uncorrelated elements, in addition to the pandemic side to have in mind. Nevertheless, on the whole, the enterprise scenario in 2021 was very troublesome, so, 2022 regularly recovered and boasted higher progress.

AEON Vietnam’s enterprise scenario has additionally regularly improved and change into extra constructive. Prospects have returned to buy with us, however the numbers aren’t absolutely recovered. The procuring frequency additionally decreased, and buyer numbers after 8pm just isn’t equal to earlier years.

As a result of change in context, market, customers, and rivals, AEON Vietnam should sustain with modifications and all the time strive new challenges and check out them first. If not, we can not keep aggressive out there.

So, we’ve ready methods to compete. We’ll promote digitalisation with our e-commerce website and new tasks similar to BOXED and A-point. With regard to enterprise growth, being versatile is the important thing to speed up the opening shops in multi-formats and of various sizes.

As well as, we’ll strive our greatest to supply native prospects with high-quality merchandise following AEON requirements, at affordable costs, by way of selling AEON Personal Model merchandise which might be manufactured in Vietnam. This additionally contributes to stabilising the provision chain within the home market and supporting native suppliers in enhancing their functionality.

Final however not least, AEON Vietnam will hold making an attempt new issues, for instance the My Closet trend model – which is for younger prospects with stylish kinds. The costs are affordable in order that prospects can discover it simple to decide on and purchase.

In 2022, AEON Vietnam carried out many new initiatives. First is the standardisation and growth of the AEON MaxValu grocery store system, which is the inspiration to repeatedly speed up retailer presence sooner or later. Secondly is the opening of a brand new mannequin – common merchandise shops (GMS) – with the primary retailer referred to as AEON The 9. It’s our new format, which is inside a companion’s constructing and covers 1,000 sq. metres.

Moreover, we’ve established our product analysis and growth division to convey extra high quality merchandise to prospects and help native suppliers’ functionality enhancement. Together with My Closet, we additionally launched a Sport & Actions counter inside our first GMS.

After Lunar New Yr, the scenario might be more difficult due to the affect from geopolitics, rates of interest, inflation, international logistics, and petrol costs. So, folks will possible tighten their spending.

Elsewhere, in responding to the altering habits of consumers to prioritise comfort, AEON Vietnam will deal with digitalisation by way of our hands-on supply service in e-commerce, and improve advantages for patrons with A-point, which is a loyal buyer factors integration between all AEON companies in Vietnam. Moreover, we’ll promote cashless funds and speed up the growth of extra shops with multi-formats to satisfy prospects’ newest procuring behaviours.

AEON Vietnam accompanying Vietnam’s sustainable development for over 10 years AEON Vietnam accompanying Vietnam’s sustainable growth for over 10 years

Over 10 years of its presence in Vietnam, AEON Vietnam not solely conquered Vietnamese customers with high quality merchandise and devoted companies but in addition contributed to the nation’s sustainable growth.

AEON to accelerate opening of new retail models
AEON to speed up opening of latest retail fashions

Over the previous 10 years, AEON Vietnam has developed a retail system with six procuring malls, common merchandise shops, supermarkets, a small grocery store chain, 25 speciality shops, and an e-commerce web site. It has welcomed 160-180 million prospects, laying the inspiration for its future growth technique.

AEON Vietnam promoting sustainable consumption AEON Vietnam selling sustainable consumption

Constructing a sustainable distribution system and selling sustainable consumption have change into the important thing targets of Japanese retailer AEON Vietnam as a bridge between producers and customers.

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