TESCO Lotus Thailand is opening another hundred branches in Thailand this year after seeing a resurgence of buying power, Thai News Agency said today (May 3).
John Christie, chief executive officer of Tesco Lotus, said his hypermarket chain is adding another 100 branches to the existing 1,900 branches while also renovating 18 stores after seeing signals that the people are starting to spend more money.
Tesco Lotus will continue to hold down the prices of necessities such as rice, fresh food and milk while also focusing on its online retail business because the number of cyber customers have doubled to 39 million.
Mr Christie is confident that the Thai economy will continue to expand with the outlook being for an improvement at yearend but his company is following other factors that might impact the Thai economy.
Tesco Lotus will be cooperating with the government’s Thailand 4.0 policy and will link up with small businesses, community enterprises and Pracharat projects as these will further increase cash circulation in the economy.
Top: Tesco Lotus CEO John Christie. Photo: Thai News Agency