Lotus’s celebrates 28 years of leading the evolution of Thai modern retail; ready to leap into the era of New SMART Retail, with next-generation stores that double up as fulfillment centers to propel e-commerce growth to 20% of total sales in three years
Lotus’s celebrates 28 years of leading the evolution of the Thai modern retail with an investment of more than 200 million baht on a campaign to thank customers. The omni-channel retailer is forging ahead into the era of New SMART Retail, with plans to open next-generation stores that also double up as fulfillment centers for its e-commerce operation, which is expected to contribute 20% of total revenue in three years.
Mr. Sompong Rungnirattisai, Chief Executive Officer, Lotus’s Thailand, said: “Throughout the past 28 years, Lotus’s has been at the forefront of the evolution of modern retail in Thailand. The Retail 1.0 saw the birth of big box stores for the first time in Thailand when Lotus Supercenter opened in 1994. With Retail 2.0, we added shopping malls to our hypermarkets to offer customers a more holistic shopping and lifestyle experiences, and we also introduced other retail formats in addition to big box stores. The rise of e-commerce that came with Retail 3.0 saw Lotus’s become the first supermarket retailer in the country to launch its own online shopping platform that allowed customers to place orders for a wide variety of products including fresh food for home deliveries or click & collect. Omni-channel retailing meanwhile became the essence of Retail 4.0. Lotus’s introduced the Lotus’s SMART App in March 2022, combining the power of an e-commerce platform with a highly personalized reward program. Within only six months of launch, the mobile application has been downloaded by more than 5.3 million users, while e-commerce sale has increased more than 12 times compared to pre-app launch.”
“As we embark on our 29th of operation and beyond, we strive to lead the Retail 5.0 age of New SMART Retail by opening next-generation stores curated for the lifestyles and needs of customers in each locale. Additionally, every store also doubles up has a fulfillment center for our online business, offering the most efficient services and deliveries for customers. Within three years, we hope that sales from our online platform will contribute 20% of our total sales revenue. Our shopping malls will also undergo improvements to make Lotus’s an Everyday SMART Community Center for local people, with a tenant mix that caters to their lifestyle, and an inspiring destination for food and activities. Over the next three years, we will transform the space in 140 shopping malls, while also developing new retail and real estate projects.”
“Our online shopping platform will also continue to improve, with new technology that will allow Lotus’s to handle an exponential growth. Artificial intelligence is used to enhance data analytics to generate truly personalized offers for individual customer. The MyLotus’s reward program currently has more than 23 million accounts. We aim to migrate these members to the Lotus’s SMART App platform for a truly seamless shopping and reward program experience. Our product plan will ensure that we cater to emerging trends and lifestyles, as well as specific needs of customers, be it for premium products, imported products, or local products from SME operators. No two Lotus’s stores are the same, with each one offering a tailored product assortment for the customer demographics. Our private label brands will see developments of new products that promote health & well-being for customers, coming from a sustainable source, with high quality, safety, and an affordable price.”
“Sustainability underpins our business plan as a leader in New SMART Retail. Our ‘Vision 2030. Actions every day’ strategy will focus on four topics that are crucial to our omni-channel retail business, namely health & well-being, social impact & economic contribution, circular economy, and climate resilience.” Sompong said.
To mark the occasion of the 28th anniversary and its commitment to offering “a little delight every day” to its customers, Lotus’s will be introducing an anniversary campaign running from September 29 through November 2, 2022, featuring 28 iconic items with discounts of up to 40%. Working with 28 leading brands, online discount coupons and free deliveries will also be offered to customers, while MyLotus’s will offer even better value for its members, in which one Lotus’s coin can be redeemed for a 28-baht discount. More than 3,000 prizes worth more than 7 million baht will also be up for grabs on a weekly basis (terms and conditions apply).
