On March 17, the Ho Chi Minh City Union of Trading Cooperatives (Saigon Co.op) held a conference to review its business performance and Party building work in 2024 and outline its direction for 2025.
Mr. Nguyen Anh Duc, Deputy Secretary of the Party Committee and General Director of Saigon Co.op, shared that despite challenges, the company achieved nearly VND 30,000 billion in revenue in 2024.
E-commerce contributed over 10% to this figure, witnessing a growth of nearly 50%. The company’s private label, Co.op, also grew by 7% compared to the previous year.
All supermarket models, including Co.opmart, Co.opFood convenience stores, and Co.opXtra hypermarkets, inaugurated new sales points.
Analyzing economic trends, consumer behavior, and internal challenges, Mr. Duc announced the 2025 theme: “Innovation and Discipline, Enhanced Digitization.” They aim for a 10% growth in revenue, with a 30% increase in e-commerce sales to VND 3,500 billion. They also plan to open 154 new sales points, expecting profit growth compared to 2024.
 Stabilized market goods displayed at Co.opmart supermarket. Photo: TU UYEN |
At the conference, Mr. Nguyen Nguyen Phuong, Deputy Director of the Ho Chi Minh City Department of Industry and Trade, acknowledged the challenges Saigon Co.op faces, including intense competition in the retail industry, rapid technological advancements, and a declining retail sales trend.
He suggested that, in addition to their 2025 goals, Saigon Co.op should accelerate growth and network expansion. They should also enhance the quality and competitiveness of their retail products and services, with a particular focus on product quality control to maintain brand reputation and protect consumers’ health.
The Saigon Co.oop Party Committee Standing Committee proposed effective solutions to overcome limitations and ensure the sustainable development of the city’s pure Vietnamese retail brand. They aim to expand regionally and become one of the 300 largest cooperatives globally by 2045, as per Resolution No. 20-NQ/TW.
TU UYEN
– 14:43 17/03/2025
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