Central Retail pursues ambitious growth with new strategy

CRC seeks to power its success through four strategies with an investment of over Bt100 billion.

The company aims to increase the revenue by 2.5 times and will expand across business segments from food, fashion, hardline, property, to new businesses. CRC is also leveraging the ‘CRC Retailligence’ ecosystem to enhance customer experiences, the company said.

CRC’s chief executive officer Yol Phokasub said, “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 are:

• A new consumer paradigm: Consumer behaviours and expectations are rapidly changing, physically and virtually.
• Scaling in the era of digital acceleration: Technology is and will be the driving force in a changing world.
• The future of wellness: Consumers will place importance on health and well-being, while technology is playing an integral role in daily living.
• Partnership for inclusive growth: Strategic partnerships will become more focused on driving success and growth.
• Sustainability agenda for all: Commitment to improve society and operate with sustainability at the core will rise in importance and will bring value to 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,” Yol said. “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 said it is employing four strategies:

• Reinvent next-gen omni retail – Elevate omnichannel platforms by merging physical and virtual worlds, and leveraging digital technologies to deliver next-level shopping experiences across all business segments from Thailand, Vietnam to Italy.
• Accelerate core leadership – Accelerate growth across CRC’s core businesses, both locally and globally, and capture new opportunities to grow with world-class partners.
• Build new growth pillars – Capture new opportunities by starting with the wellness segment followed by other segments that tap into global trends and consumer needs.
• Drive partnership, acquisition and spin-off – Expand the business under the concept of inclusive growth, inspiring success with partners and enabling value-led sustainability.

Central Retail aims to unlock new growth across dimensions with an investment of 100 billion and has set ambitious targets for 2026:

1. Drive revenue growth by 2.5 times
2. Increase earnings before interest, taxes, depreciation by 3.5 times
3. Grow market capitalisation by 2.5 times.

“Three years ago, we set out to be the No. 1 regional omnichannel retailer. And today, the new strategy has proved to be a resounding success, which is a testament to Central Retail’s DNA powered by unwavering strength, optimism and boundless potential,” Yol said. “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. Today, we are confident in our capabilities to achieve our growth targets set for the next five years,” Yol added.