Saigon Co.op achieves revenue of 30,000 billion VND

On March 17, at the business performance and Party development review conference of Ho Chi Minh City Union of Commercial Cooperatives (Saigon Co.op), Mr. Nguyen Anh Duc, General Director of Saigon Co.op, announced an ambitious goal for 2025: achieving e-commerce sales of 3,500 billion VND, a 30% increase compared to the previous year.

This is a key target in Saigon Co.op's development strategy, aimed at enhancing its competitiveness in the retail market and attracting young, potential customers.

At the conference, Mr. Nguyen Anh Duc shared that in 2024, Saigon Co.op overcame numerous challenges from both the global and domestic economy to achieve an impressive revenue of nearly 30,000 billion VND. One of the key contributors to this success was the strong growth of e-commerce, which accounted for over 10% of total revenue, with a nearly 50% increase compared to the previous year. Additionally, Saigon Co.op’s retail network continued to expand with new locations such as Co.opmart Pham The Hien, Co.opXtra Long Binh, and Co.opXtra Ta Quang Buu. These new stores not only cater to the shopping needs of local residents but also incorporate modern technology and artificial intelligence, providing an optimized shopping experience for customers.

Saigon Co.op is not only focused on expanding its business scale but also prioritizes digital transformation and improvements in logistics and warehousing systems. These strategies not only enhance operational efficiency but also create added value for customers and partners. Notably, Saigon Co.op has launched environmental protection programs, with initiatives such as "Green Consumption" and "Living Green," helping to raise consumer awareness about eco-friendly products.

In addition to business development, Saigon Co.op remains deeply committed to community activities. To commemorate its 35th anniversary, Saigon Co.op introduced the Co.op Cares platform, implemented over 150 social projects, and organized numerous engaging activities on digital platforms. This not only demonstrates the company’s commitment to the community but also reinforces its philosophy of "Bringing happiness to every Vietnamese family." Furthermore, Saigon Co.op continues to strengthen its cooperation with member cooperatives, supporting the consumption of agricultural products and OCOP-certified goods.

In a challenging year, Saigon Co.op received numerous prestigious awards, including "Vietnam Cooperative Star 2024" and "For the Development of Cooperatives" from the Vietnam Cooperative Alliance. The company also actively participated in market stabilization efforts, organizing over 473 mobile sales trips to remote areas and industrial zones, ensuring stable-priced goods for local communities.

In 2025, Saigon Co.op aims to maintain a stable growth strategy, targeting a revenue increase of 4% - 6% and expanding with 154 new retail locations. Vu Anh Khoa, Chairman of the Members' Council of Saigon Co.op, emphasized that e-commerce will play a crucial role in achieving the 3,500 billion VND revenue goal, with an expected growth rate of over 30% compared to the previous year. The company’s theme for 2025 is "Innovation, Discipline – Strengthening Digitalization," focusing on enhancing business efficiency and creating sustainable value for the community.

At the conference, Nguyen Nguyen Phuong, Deputy Director of the Ho Chi Minh City Department of Industry and Trade, acknowledged Saigon Co.op's significant contributions to ensuring a stable food supply for the city. He highlighted that Ho Chi Minh City expects Saigon Co.op to continue its vital role, especially amid ongoing global economic challenges. The city is committed to supporting Saigon Co.op in executing its development strategies, while also facilitating administrative reforms and removing obstacles to growth.

Phuong also pointed out that Saigon Co.op is facing significant challenges, particularly intense competition in the retail sector. Therefore, city leaders expect Saigon Co.op to continue improving product quality, expanding its distribution network, and strengthening quality control to uphold its brand reputation. Additionally, the application of technology in management and operations is essential for enhancing business efficiency in the future.

Ho Chi Minh City officials also emphasized that for sustainable development, Saigon Co.op must focus on building a strong workforce, particularly by nurturing talented young leaders with strong capabilities and ethics. This will not only ensure stability in the company’s growth but also create a dynamic and innovative team capable of meeting the ever-evolving market demands. Furthermore, establishing a sustainable retail ecosystem through supply chain partnerships is a key factor in driving Saigon Co.op’s long-term success.

Phuong expressed confidence that, with the relentless efforts of its leadership and entire workforce, Saigon Co.op will continue to overcome challenges, achieve its 2025 goals, and contribute to the broader development of Ho Chi Minh City and the nation.

The story of Saigon Co.op is not just a testament to sustainable growth in the retail industry but also a journey of perseverance, innovation, and commitment to the community. With the support of Ho Chi Minh City authorities and its forward-thinking strategies, Saigon Co.op is poised to remain a pioneering brand in delivering stable, high-quality, and environmentally friendly consumer goods.