- Move forward with an investment plan of 1.6 billion baht, driven by the T-O-P-S strategy, reinforcing the company’s transformation into a leader of Truly World-Class Omni-Channel Lifestyle Food Retail
- Celebrate the 28th anniversary by bringing happiness to customers with the campaign ‘Sticker Promotion – Stick and Save, Discount Your Way!’
- For the first time ever, Tops is introducing ‘Topster,’ Tops’ first mascot, to help communicate its marketing campaign in celebration of 28 years, spreading endless happiness and growing together.
Central Food Retail Company Limited, a subsidiary of Central Retail and operator of the Tops, Tops Food Hall, Tops daily, Tops Online and Matsukiyo brands, celebrates 28 years of success as a leader in Thailand’s food retail industry. Reinforcing its position as the top food retail brand in the country, the company reports its half-year 2024 performance with a 11% increase in ticket counts and a 10% rise in new customers compared to the previous year. Central Food Retail Group is driving stable business growth with a 1.6 billion baht investment budget for 2024, powered by the T-O-P-S strategy under its new vision, ‘Truly World-Class Omni-Channel Lifestyle Food Retail,’ aiming to achieve a total of 1,000 stores by 2027.
Mr. Stephane Coum, Chief Executive Officer of Food Group, Central Retail, said, “Over the past 28 years, Central Food Retail Group has led the food retail sector as the pioneer of the Thai supermarket industry with ‘Tops’, a brand that has become the number one choice in the hearts of Thai consumers. Our commitment to placing customers at the center of everything we do has driven continuous innovation in products and services, ensuring that we meet the evolving needs of our consumers. Our goal has always been to deliver the best possible experience to our customers, resulting in the strong growth of our business, gaining the trust of consumers, and maintaining our leadership in Thailand’s food retail business for many years.”
Key highlights of past achievements that reflect the company’s leadership role include being at the forefront of new trends in the food retail market and introducing imported products under exclusive brands (First-in & Exclusive). Tops is also a leader in curating the most comprehensive selection of quality products, offering over 50,000 carefully sourced items from both domestic and international suppliers (Truly World-Class). The company has pioneered the development of various store formats and sales channels (Omni-Channel Excellence). Additionally, it was the first retailer in Thailand to launch a loyalty program (First Loyalty Programme in Thailand), enabling it to meet every customer need and offer perfectly tailored benefits.
With its strong leadership across various areas, Central Food Retail Group has successfully enhanced the shopping experience for its customers while achieving consistent business and organizational growth. This is reflected in the first half of 2024, during which the company achieved the Ticket Counts increased by 11%, along with a 10% rise in new customers compared to last year. At the same time, the company has continued expanding its branches to reach customers more comprehensively. By the end of this year, we aim to operate 20 Tops Food Halls, over 150 Tops Supermarkets, more than 520 Tops daily stores, over 10 Tops Wine Cellar outlets, and more than 25 Matsukiyo stores, totaling more than 730 stores across all formats. Additionally, the company plans to expand and upgrade an average of over 100 branches annually.
Last year, the Tops daily mini-supermarket model was rebranded and revamped nationwide, designed to cater to the lifestyle of customers in each area under the concept of the ‘Joy-venience Store.’ Additionally, the omni-channel platform was further enhanced, with Tops Online receiving increased customer satisfaction after using the service. Meanwhile, Tops Prime continues to offer exclusive benefits and services to valued customers, including greater discounts on online purchases, earning double points for every online purchase for the1 members, and additional perks such as special gifts and extra discounts when shopping in-store.
Mr. Stephane continued, “We have set ambitious goals for continuous business growth. Over the next four years (2024-2027), we aim to achieve an average annual growth rate of 8% (CAGR), with the goal of becoming Thailand’s largest supermarket chain with 1,000 stores by 2027. To ensure stable growth as we enter our third decade, Tops has announced its strategic business and organizational direction under the vision of becoming a ‘Truly World-Class Omni-Channel Lifestyle Food Retail.’ We have also allocated an investment budget of over 1.6 billion baht for 2024, focused on four key business strategies, or T-O-P-S, which are:”
T – Truly World-Class: We continue to elevate the customer experience by offering superior and unique products of the highest quality, carefully selected from over 80 countries worldwide, including Thailand. We bring together more than 210 world-renowned brands in one location while supporting Small and Medium Enterprises (SMEs) and local farmers to enhance the global profile of Thai products. Additionally, we organize newest marketing initiatives to showcase a diverse range of Thai and international products, providing customers with a global shopping experience without leaving the country.
O – Omni-Channel: Creating a seamless, convenient shopping experience — Whenever, Wherever — through an elevated omni-channel approach that offers ease and completion across all platforms. Whether shopping at Brick & Mortar stores, which are available nationwide in 46 provinces with a total of more than 700 locations, or through our omni-channel platform, we ensure a seamless connection. This includes delivery services via the country’s major delivery platforms, Tops Online, the Personal Shopper service, and ordering through channels such as TikTok.
P – Pleasure: Delivering the best shopping experience across 14 product categories (14 Wonders). These include high-quality fruits and vegetables (Fruits & Vegs) with a wide variety to choose from, an exclusive selection of snacks (Snackers) available only at Tops, and wines and spirits (Wine & Spirits) sourced from premium vineyards around the world. Additionally, the range includes own-brand products and over 300 exclusive items available ‘Only at Tops’. We also aim to impress our customers with top-tier service through the “Yes! Topster” experience, setting new service standards, while embracing innovation and applying modern AI solutions that align with evolving trends.
S – Sustainable: Driving sustainability across all dimensions, Tops continues to advance the ‘Small Acts Together’ initiative. This core component of Tops’ sustainability strategy aims to achieve Net Zero carbon emissions. By encouraging both key partners and customers to actively participate, the initiative contributes to a better, more sustainable world. This aligns with Central Retail’s ‘ReNEW’ strategy, emphasizing social responsibility towards the environment and society, and reflects the business philosophy of Central Retail’s ‘CRC Care’. Tops has outlined 12 Journeys to Net Zero, aiming to reduce greenhouse gas emissions through four key pillars;
- Curating: Supporting the Grassroots and Empowering Local Farmers, for instance, providing assistance to over 11,000 Thai farming households through the Jing Jai Farmers’ Market, supporting over 200 Thai SMEs from 29 provinces through the Tops Tongtin project, and adopting eco-friendly packaging with a target to reduce carbon emissions by over 40 tonnes of CO2 equivalent per year.
- Circulating: Implementing a surplus food management policy, reducing the amount of near-expiry products and redistributing surplus food to communities, amounting to a total of 6.2 million meals. Additionally, surplus food is repurposed into 10,085 bags of pet treats.
- Creating Green Innovation: Enhancing sustainability in logistics, with plans to expand the use of electric trucks (EV Trucks) to a total of 29 vehicles by the end of this year, aiming to reduce carbon emissions by over 13,335 tonnes of CO2.
- Contributing: Contributing to charitable efforts by donating to UNICEF Thailand as part of the ‘Every Child Can Read’ project.
To celebrate its 28th anniversary, Tops has prepared a special gift to express gratitude to those who have been part of its journey over the past 28 years — valued customers, colleagues, partners, and community. Under the theme ‘Infinite Happiness: Power up Your Infinite Happiness Every Day,’ Tops is offering incredible value through the ‘Sticker Promotion – Stick and Save, Discount Your Way!‘ campaign. For members of The1, simply meet the purchase requirements and receive a discount sticker of up to 20%. Place the sticker on your desired item and enjoy an immediate discount of your choice. Collecting stickers is easy: spend 300 baht per receipt to receive a 10% discount sticker, 800 baht per receipt for a 15% discount sticker, or 1,200 baht per receipt for a 20% discount sticker. The campaign runs from 21 August to 10 September 2024 at all Tops Food Hall, Tops, and Tops daily stores nationwide.
Additionally, Tops is unveiling an extra special surprise for the first time — introducing ‘Topster,’ the brand’s first-ever mascot, who will be delivering happiness to customers as a gift to celebrate this milestone event.
“Today’s success is a testament to the trust that consumers and the Thai society have placed in Tops. This achievement would not have been possible without the collaboration and support of our partners, the dedication of our employees, and the loyalty of our customers, who remain at the heart of everything we do. Tops remains committed to delivering the best shopping experiences to our customers, reinforcing our position as the leading food retailer in Thailand under our vision of becoming a ‘Truly World-Class Omni-Channel Lifestyle Retail” Mr. Stephane conclude.