The Covid-19 pandemic has pushed Central Retail Corporation Plc (CRC) to focus on omnichannel shopping and develop ways to stay resilient, its chief executive has said.
Yol Phokasub said Central Retail's challenge has been not only about offering multiple options, but more about how to integrate and make it seamless as one experience.
"We now live in a world of both uncertainties and certainties. In an uncertain world, things are constantly changing at light speed, compelling us to be nimble, responsive, and resilient," he said.
"On the other hand, some certainties remain, and that is -- customers want 'more and less': more value, more choice, and more convenience. And they want less of the opposites: less frills, less limitation, and less friction. We need business models to address and fulfil these certainties."
Central Retail has been developing its omnichannel model since 2017, with the pandemic having provided strong tailwinds.
The company now offers features such as 'buy now, pay later' options and three-hour delivery, along with securing hyper-personalisation and logistics capabilities.
Central said its partnerships with Bumrungrad, Phyathai and Paolo hospitals enhanced accessibility for customers, patients, and medical staff, alongside quick-commerce partnerships with Grab, Foodpanda, and Line.
Mr Yol said businesses have had to adapt to the new normal by prioritising health, experience, and sustainability. People place high values on communities, environmental issues, business integrity, and for brands to be leaders of change.
He added that brand purpose will be more important than ever, as organisations showed that they upheld their purpose in both good and bad times. Brands need to value and be able to understand people's complex and changing behaviours.
In addition, Mr Yol said that consumers were now exercising mindful spending and prioritising their health. People were willing to spend money on hygiene and safety and were looking for integrated experiences that were real-time, instant, and seamless in a world where the physical and virtual are inseparable.
"To conclude, we cannot go back to the way things were, or do things the same way in order to move forward with the Covid-19 pandemic," Mr Yol said.
