Using AI and machine learning as the foundation of “Connecting Ten Thousand Needs”, Masan aims to reach VND 100,000 billion in revenue in 2023

On April 24, 2023, Masan Group Joint Stock Company and two subsidiaries Masan Consumer, Masan MEATLife co-organized the 2023 Annual General Meeting of Shareholders (AGM) in Ho Chi Minh City with the theme “Consumer of Things” – Connecting thousands of needs”.

Speaking at the meeting, Mr. Nguyen Dang Quang, Chairman of the Board of Directors of Masan Group shared: ” In 2022, Masan has changed his mind about both what we are doing and how we position ourselves. It is becoming a company. service company, experience and understand consumers “.

Danny Le, General Director of Masan Group, added: ” We will develop a multi-channel platform, providing information, products, services and experiences, thereby, meeting the needs of thousands of customers. row “.

He pointed to Masan’s growth model associated with the consolidation of offline consumers and networks, digitization and “online” of consumers at offline touchpoints. From there, it helps to expand the product & service portfolio to serve consumers. With this growth model, Masan Group is aiming to achieve consolidated net revenue from VND 90,000 billion to VND 100,000 billion in 2023, up 18% and 31% from VND 76,189 billion in 2022.

This strategic growth momentum of the company is based on three main pillars: Network growth, Membership growth and Spending market share growth. These three pillars are underpinned by nationwide logistics to deliver goods to consumers anytime, anywhere in a timely, cost-effective manner. Artificial intelligence and machine learning solutions will be the foundation to help operate this commercial logistics network smarter and more automatically with increasing scale.

The above growth drivers will be supported by the ability to operate by the in-house logistics department – The Supra and AI & ML Technology. These new technologies will help manage product flows, sources and inventory more effectively across the group, as well as save on personnel costs compared to traditional solutions.

In addition, in 2023, Masan will launch Winnie, an AI Smart PoS capable of automating inventory management. During his event, Masan also demonstrated the ability to recognize and communicate by voice between this AI Winnie and users, making it easier to operate, check and compare data.

Ms. Nguyen Thi Phuong, General Director of WinCommerce also told about the roadmap to open the grocery store network of WinCommerce. In order to capture both urban and rural market share, WinCommerce has developed a diversified store model to serve the consumer segments from upper middle to mass, from urban to rural, and from consumer needs. everyday shopping to family gatherings.

Customer experience will be a key differentiator for WinCommerce, which is working with Paris-based store designer Malherbe to improve the image of supermarkets and minimarts. Stores will be simplified, digitized and automated operating systems to prepare for the expansion of the network to 10,000 stores.

At the meeting, Mr. Truong Cong Thang, General Director of Masan Consumer presented Masan Consumer’s vision of building strong brands and products:

– Identify the tasks needed to bring 3 brands to the world: Chin-su, Omachi and Vinacafe. By 2027, the global market business will contribute 15% of Masan Consumer Holdings’ total revenue.

– Restarting the new generation R&D Center according to Korean and Taiwanese standards. Masan will develop products i) that meet global/regional health and safety standards; ii) world class packaging; iii) with the best technology/engineering for each product line; iv) and especially has outstanding taste and aroma.

– Transforming the way Masan understands consumers and builds brands. The company will build 5 Consumer Understanding and Innovation Centers across Vietnam to better understand consumers, thereby developing appropriate products and media content. In addition, 50% of the Marketing budget will be allocated to the digital channel by the end of 2023 to help the company exploit the full potential of each industry group.

– Adjusting sales methods to accommodate rapidly changing consumer behavior in urban areas, and the growth of modern trade channels (MT) and e-commerce. Management expects to increase the proportion of revenue from MT and e-commerce channels from 40% to 60% by the end of 2025. At the same time, Masan will launch new distribution channels to reach shopping consumers. over multichannel (GT).

Besides, to expand the network and increase member benefits, the Company plans to cooperate with many well-known domestic and foreign partners. And right at the congress, Masan announced its first partner, the “Co-Membership” program with Lazada, where consumers can enjoy an O2O (Online to Offline) experience with products and services such as groceries, daily consumption from WinCommerce, consumer electronics, fashion & beauty from Lazada. The co-membership program is slated to launch in June 2023.