Bangkok, 8 February 2022 - Central Retail announces its new business strategy ‘CRC Retailligence’ to guide growth ambitions for the next five years. Setting out to redefine the future of retail, Central Retail seeks to power its success through 4 key strategies backed by an investment of over THB 100,000 million. The company aims to drive revenue growth by 2.5 times, expanding across all business segments, including food, fashion, hardline, property and new businesses, and leveraging the ‘CRC Retailligence’ Ecosystem to seamlessly enhance customer experiences. These ambitions reflect the company’s purpose in being ‘Central to Life’ for all stakeholders, enabling Central Retail to become Asia’s #1 retailer of the future and grow sustainably.
Mr. Yol Phokasub, Chief Executive Officer of Central Retail Corporation PCL (CRC) commented, “There are five emerging trends that are fundamentally changing and shaping our future, and we must be prepared to adapt to these changing customer behaviours and rapid digital transformation. The five key trends include:
- A New Consumer Paradigm: Consumer behaviours and expectations are rapidly shifting, in both physical and virtual worlds.
- Scaling in the Era of Digital Acceleration: Technology is, and will continue to be, the driving force behind a rapidly changing world.
- The Future of Wellness: Consumers will place utmost importance in health and wellbeing, with technology playing an integral role in daily living.
- Partnership for Inclusive Growth: Strategic partnerships will become more focused on driving collective success and inclusive growth.
- Sustainability Agenda for All: Commitment to improve the society and operate with sustainability at the core will rise in importance, bringing value to all stakeholders.
Central Retail will continue to lead in reshaping the retail industry by leveraging the ‘CRC Retailligence’ strategy and the CRC Data Ecosystem to fulfil consumer needs, both in the physical and virtual world. By offering products and services through hyper-personalised experiences, Central Retail leverages data to unlock customer insights to deliver ‘Now Moment’ experiences in real-time, creating more personal experiences and inspiring moments. And by delivering experiences that merge online and offline worlds via Next-Gen Omni Retail, we aim to be the retailer who truly knows and understands our customers, shaping the future of retail in a way that’s never been done before.”
Central Retail charges ahead with confidence through 4 key strategies:
- Reinvent Next-Gen Omni Retail - Elevate omnichannel platforms by merging physical and virtual worlds, and leveraging new digital technologies to deliver next-level shopping experiences across all business segments, including food, fashion, hardline, property and new businesses across Thailand, Vietnam and Italy.
- Accelerate Core Leadership - Accelerate growth across Central Retail’s core businesses, both locally and globally, and capture new growth opportunities with world-class partners.
- Build New Growth Pillars - Capture new business opportunities by starting with the wellness segment followed by other segments that tap into changing global trends and consumer needs.
- Drive Partnership, Acquisition and Spin-Off - Expand the business under the concept of inclusive growth, inspiring collective success with partners and enabling value-led sustainability.
Central Retail aims to unlock new growth across dimensions, making an investment of THB 100,000 million and setting new business targets for 2026: 1) Drive revenue growth by 2.5 times 2) Increase EBITDA by 3.5 times 3) Grow market capitalisation by 2.5 times. As the Next-Gen Omni Retailer and its CRC Data Ecosystem, Central Retail is well-positioned to win.
“Three years ago, we set out to be the #1 Regional Omnichannel Retailer. And today, the ‘New Central New Retail’ strategy has proven to be a resounding success, which is a testament to Central Retail’s DNA powered by unwavering strength, optimism and boundless potential. We are ready to move forward with ‘CRC Retailligence’ that prioritises the environment, society and good governance as the key cornerstones in operating our business. We aim to bring value to society and drive collective success for all our stakeholders, including our customers, the government, partners, merchants and our people. The determination and hard work of our people is well-reflected through the work that we do and the best experiences we deliver. Today, we are confident in our capabilities to achieve our growth targets set for the next 5 years,” Mr. Yol concluded.
