Big C, a Thai retailer, has been ranked as the fifth most valuable retail brand in South East Asia by Interbrand, one of the largest branding consultancies globally.
Big C has made considerable gains during financial years 2011 and 2012 after acquiring Carrefour’s resources in Thailand, ensuring its expansion to become the second-largest hypermarket brand after Tesco Lotus.
To manage its expansion, the company has implemented a new human resources structure which includes revamped training and appraisal practices. In its dealings with customers, the company has put into practice a brand loyalty programme and diversified its retail outlets to make it a solid competitor.
Its efforts have seen the company’s value increase to Bt17bn (US$59m).
Big C’s strategies mark the necessary approach to maintaining an ongoing successful presence in Asia’s changing market terrain. Shifting demographics, increased income and changing consumer expectations have meant retailers have had to adapt to survive.
A high-profile exit from the Asian market has been French hypermarket retailer Carrefour. Failing to modify their outlets to shifting consumer needs, the company recently closed its stores in Singapore, Malaysia and Thailand.
Interbrand’s ranking of South East Asia's top five 'Most Valuable Retail Brands for 2013' put Singapore's FairPrice in the leading position. The other retail brands that made the list are Malaysia’s Parkson in second place, the Philippines’ SM Department Stores in third and Indonesia’s Matahari De+partment Stores in fourth.
