Bangkok--21 Apr--Tesco Lotus
Continued investment in new store openings, improving stores and shopping malls , as well as online channels
Commitment to permanently lowering prices to help customers facing difficult economic situations
22 Pracha Rath projects to stimulate local economies
Tesco Lotus, Thailand's leading retailer, has confirmed its intention to continue to invest in 2016 to better serve customers in Thailand and keep prices permanently low through the challenging economy. Customer will benefit from new store openings, improvements to existing stores and shopping malls and lower prices.
Mr. John Christie, CEO of Tesco Lotus, said: "We had a very strong performance in 2015, despite the challenging economic situation in Thailand. We saw a healthy growth in sales, market share, and customer number, as a result of our firm focus on our customers."
"We remain very much committed to Thailand, our customers and growing our business in order to better serve Thailand's shoppers. With the economy continuing to be challenging, it's more important than ever for Tesco Lotus to keep prices low for our customers, especially the products that matter the most to customers such as baby formula, diapers and fresh food. Apart from helping our customers save on their costs of living every day, we are making significant contributions to Thailand's economy through more than 3,000 new job creations. Our performance and plans also means more growth opportunities for our suppliers."
In 2015 Tesco Lotus opened 65 stores, most of which are small format stores. This year Tesco Lotus will continue to open new stores around the country and refurbish existing stores to improve shopping experiences for customers. In addition, part of 2016 investment will be used to further develop Tesco Lotus online shopping platform giving customers an even more competitive offer on Tesco Lotus Shop Online and Lazada.com .
"Our commitment is not only to our customers, but also to the country at large. We realise that Thai people, especially in rural areas, are facing income challenges and that's why are adopting the government's Pracha Rath policy to help drive local economies. As Tesco Lotus continues its operation in Thailand for the 22nd year, we are planning to launch 22 Pracha Rath projects to help people around the country. We have been working with government agencies and local communties to purchase more farm products with the target purchase volume of 150,000 tonnes this year, up from 100,000 tonnes last year. In addition, we will increase our support for SMEs and OTOP operators who will be able to distribute their products through Tesco Lotus's stores and, in the future, online channels."
"Tesco Lotus is firmly commited to Thailand, our customers, and doing our part to contribute to the Thai economy. Further investments this year will bring about benefits not only to our customers and local communities, but also Thailand as a whole," concluded Mr. Christie.