Tesco Lotus spends up in retail omni-channel push

[webfact]

Tesco Lotus spends up in retail omni-channel push

By KWANCHAI RUNGFAPAISARN 
THE NATION

 

 

TESCO LOTUS yesterday said it is committed to continuous investment in Thailand, especially in the development of omni-channel retailing that meshes with the ambitions of the government’s Thailand 4.0 technology vision.

 

However, the company’s chief executive Sompong Rungnirattisai denied to disclose the investment budget, saying that it would be no less than last year’s.

 

 A large portion of the total investment would be allocated towards the opening of stores as well as increasing the efficiency and capabilities of Tesco Lotus's online business.

 

The company also plans to refurbish around 120 stores this year to enhance the shopping experiences for customers. This would include upgrades to the look and feel of the outlets, as improved services in the fresh food departments and the reallocation of space to fit with customers’ lifestyles, Sompong said. In 2017, the company purchased more than 200,000 tonnes of fresh food directly from farmers, an increase of more than 30 per cent over the previous year.

 

“We are looking to add around 596,000 square feet of sales floor space, which is a 44 per cent increase on last year's new space. Last year, we opened 67 new stores,” Sompong said. 

 

“Our approach is no longer to look at stores by format, but as omni-channel retailing offering a seamless experience for our shoppers wherever and whenever they shop at Tesco Lotus. 

 

“Today, around 40 per cent of our customer base are cross-channel shoppers, and we expect that this number will continue to increase.”

 

Sompong said that rather than the company focusing on the multi-format offering of bricks-and-mortar outlets, Tesco Lotus is looking towards omni-channel retailing. “This approach means that customers are able to shop with Tesco Lotus anywhere, anytime, be it in our hypermarkets, supermarkets, convenience stores, or online,” he said. 

 

“They're also able to do so in a seamless experience and can expect to have the same great quality products at affordable prices through all of Tesco Lotus's retail channels.

 

“The key challenge for many industries, including retail, is the speed at which customer behaviour is changing. Our task is to continue to fulfil their needs and serve them better, and we have to be able to do this at a much faster pace than ever before.”

 

Source: http://www.nationmultimedia.com/detail/Corporate/30343792

 

-- © Copyright The Nation 2018-04-24

[bluesofa]

1 hour ago, webfact said:

“Our approach is no longer to look at stores by format, but as omni-channel retailing offering a seamless experience"

Excellent management-speak - a.k.a. waffle.

Has he been taking lessons from David Brent in The Office?

 

[HAKAPALITA]

Bunging up some extensions about says it. Overpaid Waffle Machine.!

[Ossy]

Let's be honest. Who can honestly say that, without the seedless omni-flannel Tesco experience, Thailand would still be tolerable? It 'd be a close call.

[HAKAPALITA]

Just now, Ossy said:

Let's be honest. Who can honestly say that, without the seedless omni-flannel Tesco experience, Thailand would still be tolerable? It 'd be a close call.

"At this moment in time", he missed that line.....

[Ossy]

3 minutes ago, HAKAPALITA said:

"At this moment in time", he missed that line.....

'All things considered', you'll need to wait till 'at the end of the day', for that little gem, if he's 'covering all bases', of course.

[HAKAPALITA]

 Bring back David Rhead the Brit who was CEO at the start. He got the whole thing built,  started n running here with less words than Sompong uses over little  extensions in the Car Parks.

[bluesofa]

16 minutes ago, Ossy said:

'All things considered', you'll need to wait till 'at the end of the day', for that little gem, if he's 'covering all bases', of course.

He must be a good sport if he's covered all the bases.

 

[HAKAPALITA]

4 minutes ago, bluesofa said:

He must be a good sport if he's covered all the bases.

 

Ex Soi 6 CEO.

[rtco]

Lot's of cynicism in these answers and clearly a total lack of corporate understanding but then again what more do you expect from TV keyboard warriors who could not begin to understand the necessity for these C-Suite statements which are designed for investors and the stock market.

[bluesofa]

28 minutes ago, rtco said:

Lot's of cynicism in these answers and clearly a total lack of corporate understanding but then again what more do you expect from TV keyboard warriors who could not begin to understand the necessity for these C-Suite statements which are designed for investors and the stock market.

As you appear to be au fait with all this, could you perhaps translate the following:

 

“Our approach is no longer to look at stores by format, but as omni-channel retailing offering a seamless experience for our shoppers wherever and whenever they shop at Tesco Lotus. 

Today, around 40 per cent of our customer base are cross-channel shoppers, and we expect that this number will continue to increase.”

 

BTW, what's a C-Suite statement?

 

[metisdead]

Troll posts and the replies have been removed. 

[JAG]

8 hours ago, webfact said:

TESCO LOTUS yesterday said it is committed to continuous investment in Thailand, especially in the development of omni-channel retailing that meshes with the ambitions of the government’s Thailand 4.0 technology vision.

What on earth does that mean, anyone any idea?

[PREM-R]

14 minutes ago, JAG said:

What on earth does that mean, anyone any idea?

I will take a guess, Tesco is going to promote sales via website and physical stores where a customer may order on-line and then collect from or have delivered to their home from a local Tesco store. This will provide a quicker and more convenient service for some customers and would be inline with Thailand's vision of being a 'Smart' country. Any other suggestions?

[HAKAPALITA]

Brilliant, they have started already. Building in the Car Park!!. You know what that is.? A place with Stripes that close together they recon the Customers all ride a Harley or Gold Wings .Even my Wife cant get back in some days, and theres more fat on a Butchers Pencil.

[rtco]

23 hours ago, bluesofa said:

As you appear to be au fait with all this, could you perhaps translate the following:

 

“Our approach is no longer to look at stores by format, but as omni-channel retailing offering a seamless experience for our shoppers wherever and whenever they shop at Tesco Lotus. 

Today, around 40 per cent of our customer base are cross-channel shoppers, and we expect that this number will continue to increase.”

 

BTW, what's a C-Suite statement?

 

Simply put omni channel  integrates the different methods of shopping available to consumers (e.g. online, in a physical shop, or by phone) making it easier for shoppers. Think of the old Martini advert ... anytime, anyplace, anywhere! C-Suite = at a level of CEO, CTO, CFO ... Sompong Rungnirattisai is the Tesco Chief Executive Officer (CEO)

[bluesofa]

30 minutes ago, rtco said:

Simply put omni channel  integrates the different methods of shopping available to consumers (e.g. online, in a physical shop, or by phone) making it easier for shoppers. Think of the old Martini advert ... anytime, anyplace, anywhere! C-Suite = at a level of CEO, CTO, CFO ... Sompong Rungnirattisai is the Tesco Chief Executive Officer (CEO)

Thanks for replying.

 

I know in an earlier post I saw it as 'management-speak', but the point is when a newspaper is writing for the general public it would be better to keep it to reasonably straightforward English, rather than just repeat what was said in a slightly more technical release.

If the newspaper took the time to do that, there would perhaps be less ridiculing.

 

Since reading your post, I took the time to look up the difference between multi-channel and omni-channel.

I still had to smile though, when one report described the difference as one being an 'inside out' approach, whereas the other was 'outside in'.

 

Thanks again.

 

[graemeaylward]

All that gobbledygook and not a mention of getting rid of plastic carrier bags! Expand by all means but have some regard for the future of the planet, after all this is the 21st century and most civilised countries are doing their best to eradicate non recyclable plastic! But hey this is selfish, profit above life, Thailand!

Sent from my Lenovo A3000-H using Thailand Forum - Thaivisa mobile app

[HAKAPALITA]

2 hours ago, graemeaylward said:

All that gobbledygook and not a mention of getting rid of plastic carrier bags! Expand by all means but have some regard for the future of the planet, after all this is the 21st century and most civilised countries are doing their best to eradicate non recyclable plastic! But hey this is selfish, profit above life, Thailand!

Sent from my Lenovo A3000-H using Thailand Forum - Thaivisa mobile app
 

If you take your own bag, job done, nanny can do home.Jeez why is a prob always someones other than yours these days.

[wgdanson]

On 4/24/2018 at 7:45 AM, webfact said:

especially in the development of omni-channel retailing that meshes with the ambitions of the government’s Thailand 4.0 technology vision.

What the hell does that mean please, anyone?

[HAKAPALITA]

This guy would be the Chief Sex Officer on my old boards.......... ie.   " When we want your Clukin advice, we will ask for it". Every Board had one in my day.

[rtco]

 

20 hours ago, bluesofa said:

Thanks for replying.

 

I know in an earlier post I saw it as 'management-speak', but the point is when a newspaper is writing for the general public it would be better to keep it to reasonably straightforward English, rather than just repeat what was said in a slightly more technical release.

If the newspaper took the time to do that, there would perhaps be less ridiculing.

 

Since reading your post, I took the time to look up the difference between multi-channel and omni-channel.

I still had to smile though, when one report described the difference as one being an 'inside out' approach, whereas the other was 'outside in'.

 

Thanks again.

 

Agreed re press reporting and "inside out" an 'outside in" is nice and simple

[TallGuyJohninBKK]

How many millions/billions of baht extra would Tesco have to spend in order to accomplish a simple feat -- that when you order something from Tesco Online because their website shows it as being available, that most of the time they're actually able to deliver the product you've ordered?

 

I wonder if THAT's in their investment budget for omni retailing!!!!