Tesco Announces To Open 750 More Stores In Thailand!
Post by Tuba Qureshi | Jun 21, 2019
The leading supermarket chain of UK, Tesco is planning to open 750 more convenience stores in Thailand in order to expand its overall network by 50%.
There was no timeline revealed for the move, and it is one of several strategic growth options that is being considered by this British-headquartered most reliable grocery retailer.
Tesco is currently operating about1583 stores in Thailand, in a mixture of a growing network of small compact stores for local communities and large-format hypermarkets.
Seeing the success rate of Tesco in Thailand and its neighboring country Malaysia, the company is now also seeking expansion in other Asian markets such as China and South Korean.
Building a stronger network of convenience-store in Thailand and in Malaysia would make a lot of sense given consumers in the region are losing interest in hypermarkets as a format in favor of more frequent visits to smaller shops, as well as buying goods online.
Tesco told its investors that as the country is developing more and more Thais are migrating from traditional markets to supermarkets, hypermarkets, and convenience stores.
The potential idea of store expansion was outlined at a Capital Markets Day presentation to investors and analysts on the company’s future direction.
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