Why is Masan 2024 so popular with consumers?
2024 was a challenging year for Vietnam's socio-economic landscape. Although the recovery wasn't considered particularly rapid, the retail consumer market has begun to show positive signs and is projected to have greater potential for growth in the future.
Therefore, businesses are constantly facing challenges that require diverse strategies and products to maintain growth momentum, improve quality, and attract consumers. Masan Group stands out with its consumer-centric business strategies and objectives.
Leveraging the synergistic power of the consumer and retail sector.
In Vietnam, Masan's retail segment, WinCommerce, is a leading modern retailer with a scale advantage of over 3,700 outlets serving all consumer segments from urban to rural areas. This, combined with Masan Consumer's (a subsidiary of Masan) consumer goods manufacturing strength and its internal logistics company, Supra, creates numerous opportunities for WinCommerce to gain a competitive edge in the domestic retail market.
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Supra's distribution center system comprises 10 warehouse clusters (6 dry warehouse clusters and 4 cold warehouse clusters). The unit applies technology for planning and optimizing transportation to its logistics management. According to estimates from Masan's leadership, Supra has helped the WinCommerce retail system reduce costs by 11%.
Furthermore, WinCommerce consistently maintains 90% Vietnamese products across its entire system, acting as a bridge connecting domestic businesses and manufacturers to deliver high-quality products to over 30 million customers each month. This is also a significant advantage for WCM, helping it gain the trust and loyalty of consumers and contributing to the goal of promoting Vietnamese products for Vietnamese people.
In particular, WinCommerce's WiN membership program has now reached 10 million members. With rising prices, loyalty programs are becoming increasingly popular among consumers because they save money on purchases while also benefiting from reward points and additional benefits. It can be said that in 2024, WinCommerce has all the right pieces in place for success in the Vietnamese market.
Affirming the appeal of Vietnamese cuisine through each quality product.
Contributing to the positive results of the retail consumer goods giant in 2024 is Masan Consumer (Stock code: MCH), one of the largest consumer goods companies in Vietnam.
In 2024, MCH continued to achieve positive revenue growth figures. This was contributed by the premiumization strategy implemented in the Convenience Food and Spices categories. In addition, the company's Go Global strategy also yielded promising results, with export revenue continuing its growth trajectory, reaching a 17% increase compared to the same period last year.
2024 marked a significant milestone for Chin-Su chili sauce, as it continuously won numerous awards: Chin-Su became the "Golden Brand of the Youth" - an award voted on by young people at the Ho Chi Minh City Golden Brand Awards ceremony, and ranked #1 on the Korean e-commerce platform Coupang. Most recently, Chin-Su shone brightly, appearing prominently on giant billboards in Myeongdong - Seoul's largest shopping paradise in South Korea - and in the Glico sign area - an iconic location in the bustling Dotonbori food district, Osaka, Japan.
This success also demonstrates MCH's relentless efforts in diversifying its product range, innovating, and improving to meet the increasingly diverse needs of consumers.
A brand of cured meat using European technology, trusted by Vietnamese consumers.
Chilled meat is extremely popular in Europe and is gradually becoming more common among Vietnamese consumers due to its benefits in terms of tenderness, freshness, ease of purchase, and storage, which are very suitable for the busy lives of urban dwellers.
Currently, consumers can easily purchase MEATDeli chilled meat (a brand of Masan MEATLife) at major supermarket chains nationwide in Vietnam, such as WinMart and WinMart+, offering a wide variety of meat products. Notably, MEATDeli chilled meat is the first meat brand to achieve BRC certification. This is a global food safety standard established by the British Retailer Consortium. To be certified with BRC, producers must meet requirements such as commitment to innovation, food safety, and clear traceability of origin.
Since 2023, with a strategy focused on the processed meat industry, in addition to MEATDeli, MML also owns a range of high-quality processed meat products such as: pork sausage, ham, shredded pork, dried chicken, pork skin sausage sticks, etc., which have been positively received by consumers. In particular, two strong brands, Ponnie and Cowboy Pork, have achieved approximately 50% market share in the sterilized sausage market.
Its established position has transformed MEATDeli into a "leading product"—a product capable of attracting consumer traffic to the store. MML's price-competitive strategy, including an exclusive pricing program for WIN members, helps narrow the price gap between MEATDeli products and meat sold in traditional markets, thereby increasing production and processing capacity.
It can be said that, through business strategies that put consumers at the center, Masan has strived to create value by accompanying consumers with quality products and services at affordable prices. With that goal in mind, Masan has been on the right track to increasingly build trust and become the preferred choice of consumers.
