On October 25, at the ceremony to announce of Top 10 most reputable companies in the Food – Beverage – Retail industry in 2022, taking place in Hanoi, Central Retail Vietnam was honored to be crowned #1 in the Top 10 prestigious companies in the retail sector, recognized by Vietnam Report Joint Stock Company (Vietnam Report). The award is even more meaningful as this has been the second year in a row that Central Retail has been named at the top position in the prestigious category during a challenging period for the retail industry.
The “Top 10 reputable companies in the retail industry” is an annual study based on the results of independent research and evaluation by Vietnam Report since 2012. This year, the top representatives are all businesses that have made positive contributions to the industry’s overall development and are trusted by consumers in the period of 2021 – 2022.
The Top 10 Reputable Retail Companies in 2022 companies were selected in a logical and objective approach based on 3 main criteria: (1) financial capacity reflected from the latest financial report; (2) media reputation evaluated by the Media Coding method; (3) survey concerning consumers and stakeholders that was conducted in August and September 2022.
On behalf of Central Retail in Vietnam, Mr. Olivier Langlet, Group CEO, shared: “We are very honored to be crowned Top 1 two years in a row. The award adds another meaningful milestone for us when the company celebrates its 10-year journey in Vietnam.
This achievement couldn’t be reached without the countless efforts and dedication of our 15,000 employees in Central Retail in Vietnam. Immense appreciation goes to our employees. In addition, we would like to express our gratitude to the customers who keep supporting, trusting, and choosing our service every day. Central Retail strives to be Central to Life that completes every need and enriches every day with new experiences.
The accomplishment of being recognized as the most reputable company in the retail industry for two consecutive years, along with the positive recovery of the retail sector, is the motivation for us to make a relentless effort to serve customers through quality products and a service ecosystem that provides breakthrough innovations, thereby realizing the company’s vision of contributing to the prosperity of Vietnam and enhancing the quality of life of Vietnamese people.”
According to Vietnam Report, as the only Asian country with a significant GDP growth forecast by the International Monetary Organization (IMF) in 2022, Vietnam is a special representative of a strong recovery since the economic recession caused by the fourth wave of the COVID-19 pandemic. The rally appeared across all economic sectors, including the Food and Beverage industry, with sales improving positively in all distribution and consumption channels. The industry’s growth momentum in the past period mainly came from two main factors: the recovery of domestic consumption demand and the trend of shifting from traditional to modern channels shaped by young people.
The retail market in 2022 has witnessed a positive recovery trend, following the new normal post-pandemic. Generally, in the first 9 months of 2022, total retail sales of consumer goods and services reached 4,170.2 trillion VND, increased by 21% over the same period last year, in which the sale of goods achieved leaping growth. However, the development trend of the industry is still based on changes in consumer behavior after the pandemic and the ability to apply digitalization on a large scale, notably: (i) the boom from the online business on social media channels; (ii) personalization of customer experience to increase compatibility between products and needs; (iii) the popularity of omnichannel sales due to the increase in the seamless shopping experience for consumers.
The recovery of critical industries has contributed significantly to Vietnam’s post-pandemic economy, with GDP growth in the third quarter of 2022 exceeding forecasts by 13.7% over the same period last year. Therefore, the ceremony to announce the Top 10 prestigious companies in the Food – Beverage – Retail – Packaging industry in 2022 was held to honor the representatives that achieved outstanding business achievements, contributing to the overall development of the industry, in particular, and the national economy, in general.