Central Retail Corporation (CRC), Thailand’s largest retailer, announced a significant investment of over 45 billion Thai baht (US$1.38 billion) through 2027. This substantial capital injection is aimed at expanding mainstream markets and accelerating growth across Southeast Asia, specifically in Thailand and Vietnam. The company’s “New heights, Next growth” strategy is built on three core pillars: enhancing customer engagement through its 26-million-member loyalty program, driving new business development, and strategic geographical expansion.
A key aspect of this expansion involves advancing CRC’s unified technology platform to create a seamless omnichannel shopping experience. The company plans to scale AI integration to boost capabilities, targeting sustained double-digit growth in online sales. Furthermore, CRC is accelerating the expansion of its food and mall businesses in Vietnam, introducing store formats specifically tailored to meet the needs of various customer segments in each area.
Vietnam stands out as CRC’s primary expansion target, driven by the country’s projected GDP growth of 5.2 percent, which significantly outpaces Thailand’s. Currently, CRC operates 330 stores across 26 provinces and cities in Vietnam. Despite facing global economic challenges, the company’s strategy aims for a 5 percent growth in annual revenue and EBITDA. The CEO noted the challenges of operating in a slowing global economy and with rapidly changing consumer behavior, emphasizing the company’s commitment to leveraging AI technology and empowering its workforce for efficiency and deeper customer insights.