Tesco Lotus plans to keep expanding new stores and spaces, adding around 55,740 sq m in retail space, according to a speech by Sompong Rungnirattisai, the newly appointed chief executive.
Expansion in secondary districts
This year the retailer plans to add around 55,740 sq m in retail space, an increase of 40% from around 40,000 sq m it added last year. The new spaces will be from opening new stores with a focus on secondary districts where there are no Tesco Lotus stores. The retailer currently has a total of retail space of around 1.437m sq m at nearly 1,950 stores nationwide.
It will also refurbish around 120 existing stores to boost sales through services at fresh food department, with its '[email protected]' initiative, and reallocating spaces to fit Thai consumers' lifestyles.
Omnichannel strategy to provide convenience
Tesco Lotus will continue to enhance the shopping experience benefiting from its strategy and investment on omnichannel, which enables consumers to buy products easily through all online and offline channels. It will also boost the number of online shoppers by incentivising its 15 million Club Card members to use its mobile app, which has been downloaded 3.5 million times.
"Online sales have high growth, but it remains minimal when compared with offline sales...We cover both sales channels to make things convenient for consumers." Said Sompong
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