AEON to accelerate opening of new retail models

November 02, 2022 | 08:00
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Over the past 10 years, AEON Vietnam has developed a retail system with six shopping malls, general merchandise stores, supermarkets, a small supermarket chain, 25 speciality stores, and an e-commerce website. It has welcomed 160-180 million customers, laying the foundation for its future development strategy.

In the second stage of its development, it has launched an ambitious plan to open 100 AEON MaxValu supermarkets in Hanoi by 2025. The retailer continues to expand its speciality stores, including health and beauty store Glam Beautique, pet shop Petemo, and a bike shop brand.

It also makes efforts to promote digital transformation and product development to fulfil its mission of enriching the lifestyle of customers and contributing to the sustainable development of Vietnam.

AEON to accelerate opening of new retail models
Yasuyuki Furusawa, general director of AEON Vietnam

Furusawa Yasuyuki, general director of AEON Vietnam, said the company plans to strengthen its presence in the central region, including major cities such as Hue, Danang, and surrounding areas.

"Depending on the area's characteristics, we will deploy a business model that meets the needs of local people. For example, large shopping malls will be perfectly suitable for densely populated areas, while compact general merchandise stores and small supermarket chains will be suitable for residential buildings and small and medium-sized urban areas," he said

Since 2020, The retailer has implemented two new business models in the northern market, which are the small and medium-sized supermarket chain AEON MaxValu and a compact general merchandise store The Nine.

Despite being a new player, the company is very confident about the success of these two new models as the retailer has spent enormous time carrying out research, testing, and adjustments before officially launching.

“Up to now, the AEON MaxValu supermarket chain has been standardised. We will continue accelerating the pace of new store openings to reach our goal of 100 AEON MaxValu outlets by 2025,” said Yasuyuki.

AEON to accelerate opening of new retail models
Since its inception in 2020, the AEON MaxValu small and medium supermarket chain has now been standardised to be replicated across Vietnam

“We also want to bring AEON MaxValu to the southern market, but the AEON Citimart chain is being operated here. We are in the process of improving and standardising the model. We will consider balancing these two supermarket brands, thereby formulating the development plan and strategy accordingly," he added.

Thriving in the retail sector

In Vietnam, the retail business is full of challenges, even for big names. However, the company is confident in its long-term experience not only in the Japanese market but also in 14 other countries. According to Yasuyuki, AEON Vietnam has three strengths when doing business in Vietnam’s retail market.

“The first is the shopping space. Customers always feel the cleanliness and brightness of our shopping space. This, coupled with friendly staff, makes customers feel happy and comfortable visiting the outlets daily. When building a supermarket, AEON Vietnam must meet this criterion," he said. "Second, there is a Delica food court on the ground at AEON Vietnam’s GMS. The food court features a variety of ready-made foods favoured by many Vietnamese customers. Finally, The retailer learnt from the long experience of Japan's AEON Group in the supermarket business."

In terms of inventory management, the company proactively plans goods in reasonable quantities. Besides this, the reasonable display of products helps customers easily make purchasing decisions.

AEON to accelerate opening of new retail models

The retailer's shopping malls and supermarkets have conquered not only Vietnamese customers with delicious dishes, quality food, and consumer goods but also good service and attitude.

"We believe that if our employees experience something positive, they will be able to bring good things to customers and people. In fact, some customers write thanking letters our staff, which motivates them a lot," Yasuyuki said.

At AEON Vietnam, people often exchange with and care about each other. The general director said that managers should share with employees when receiving compliments from customers, spreading joy and pride, and encouraging continued good deeds.

“We appreciate every suggestion and contribution from customers to further improve our products and services. The keyword that helps us attract customers is breakthrough. We constantly make changes and grow with the changes of the era to meet the needs of society,” the general director said. “If the retailer does not keep up with the changes to meet the customers' needs, they will certainly lag and even fall out of the race. Moreover, a capable retailer must take one step forward by anticipating customers’ needs to make timely adjustments and improvements.”

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By Thanh Van

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