Tesco Lotus speeds expansion

Thai retail chain Tesco Lotus plans to continue expanding with at least 65 new stores this year, despite the market being sluggish.

“We saw a small improvement in the market in terms of local consumption, but we are optimistic the Thai market is still promising as it is the second-largest unit outside the UK,” CEO John Christie said in an interview with The Nation.

He says the company will also work on enhancing the customer shopping experience and improving online outlets.

Tesco Lotus opened 65 stores last year, and is looking for opportunity in medium-size provinces new to the brand. Smaller stores will be opened in Bangkok, while large ones will be opened in the provinces, and the company aims to employ at least 3000 more staff.

Eighteen stores will be renovated, aiming to enhance the shopping experience particularly for children and family groups. The company hopes it will have more visitors than last year’s 15 million, which was 2 million more than the previous year.

Also, Tesco Lotus plans to continue developing its online shopping platform with its partners this year.

“We are now offering more than 8000 non-food products via Lazada,” said Christie. These include electronic devices, and beauty and healthcare products.

And in co-operation with government agencies and local communities, the company plans to launch 22 Pracha Rath projects across Thailand so it can buy more farm products. It is planning 150,000 tonnes in purchases this year, up from 100,000 tonnes last year.

There are 12 communities in the Pracha Rath scheme, which aims to promote the development of innovative products, human resources, and research and development in 10 business sectors, including logistics, food processing and innovative agriculture.