Image Square store comes to Hanoi

The Image Square stores, together with Canon’s new world-class products, reinforce the company’s commitment to Vietnamese customers, as Kensaku Konishi, president & CEO of Canon Singapore Pte Ltd.,  explained in a chat with VIR’s Hoang Anh.

It is reported that the Image Square concept has been developing well in Indian and many Asian countries. What inspired Canon to expand the model to Vietnam?

This year, Asia continues to be the engine for growth of Canon. Particularly, we try to increase the customer engagement with Canon through the theme called “Canon Experience” and the Image Square is a part of this campaign.

The first Image Square store was implemented in India in 2011 and within only one year, the number increased to 50 stores over the country. By the end of 2012, the number was 100 stores. The very fast increase of stores proved that our model had been definitely successful. That’s why it’s being extended within other countries in the whole Asia and Vietnam is among of those. The first Image Square store opened in Ho Chi Minh City last year. Our average monthly revenue growth is 20-25 per cent, and the average number of customers visiting the stores about 300 per day. Following this success, we decided to open the second store in Hanoi.

How do you evaluate the electronic consumption trend in Vietnam?

I don’t see much difference in the taste of Vietnamese users and regional ones. In general, everyone wants reliable, professional products that fit their diversified needs. The only slight difference is that Vietnamese users tend to favour products that are very user-friendly, without too many complicated functions.

How has Canon experienced and dealt with the domestic economy downturn?

The economic downturn influences almost all businesses across various industries and Canon is not an exception. However, in order to stimulate consumers’

demands for technological equipments, through our distributors, we have been promoting our products by implementing a lot of marketing activities, creating the playground for consumers, more valuable giveaway items, and more benefits in terms of after sale services like free photography training, attending events and seminars. Therefore, our business results are still very encouraging. We are still the leader in printer segment (43 per cent market share for inkjet printers and 46.6 per cent for laser printers) and DSLR camera (53.4 per cent) according to GfK report updated until March 2013.

Since the Vietnamese market remains promising to Canon’s business, what is your further planned investment strategy here?

Vietnam is a country that is realising impressive economic growth and this growth is expected to continue. This year, the main differentiator of Canon is the Canon Experience, which means we want to increase the customer engagement targeting general consumers,  business leaders and the professional photographers. One of the detailed actions to realise this goal is the Image Square opened in Ho Chi Minh City and Hanoi. From now until the end of 2014, we expect to open 20 Image Square stores across Vietnam to meet the demand of photography enthusiasts.