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Công ty CP Bán Lẻ Kỹ Thuật Số FPT / Company infomation  / The secret to become the most efficient retailer in Vietnam of FPT Shop: Sales employees cum the work of technicians and accountants, each employee brings the revenue of 2,2 billion VND
Bí quyết trở thành nhà bán lẻ hiệu quả nhất Việt Nam của FPT Shop
2 Sep

The secret to become the most efficient retailer in Vietnam of FPT Shop: Sales employees cum the work of technicians and accountants, each employee brings the revenue of 2,2 billion VND

More than a year ago, the story of replacing the retail price of FPT Shop was put on the table to compare with the Mobile Word. While FPT Shop struggled with price lists on paper, the Mobile World took only 10 seconds with the electronic price lists. However, according to the latest Euromonitor report, FPT Shop is the most efficient retailer in Vietnam with the revenue per square meter of nearly 16,000USD/m2.

 

Bí quyết trở thành nhà bán lẻ hiệu quả nhất Việt Nam của FPT Shop: Sales kiêm luôn công việc của anh kỹ thuật, chị kế toán, mỗi nhân viên đem về 2,2 tỷ đồng doanh thu

 

Mrs. Nguyen Bach Diep – the “female general” of FPT Digital Retail JSC (FPT Retail), which owns the retail chains FPT Shop – did not hide the story that FPT Shop had learned from “the brother” in retail business – Mobile World.

“They have been 8 years ahead of us. If we had to go from scratch, it would cost a lot. Standing on the perspective of principles, the shareholders do not wait for our bargain. The best way is to look at the leader and learn their good things to burn the stage without paying much, “said Mrs. Diep – The Chairman and CEO of FPT Retail shared.

However, there was one thing that FPT Shop did not choose to follow the brother: The procedures to change the retail price lists.

Mr. Nguyen Duc Tai – The Chairman and CEO of Mobile World Investment JSC (MWG) – was proud of a small thing but no other digital retailers could intimate through the past 10 years, which was to change the retail price lists.

Instead of printing the price lists on paper, the Mobile World used the electronic price lists. Every time the price was inserted into the Excel table, all the electronic price lists would change simultaneously by only clicking Enter.

FPT Shop did not select this option.

 

 “Investing 20 billion VND in the price lists was quite a big amount of money for us at that time”

Bí quyết trở thành nhà bán lẻ hiệu quả nhất Việt Nam của FPT Shop: Sales kiêm luôn công việc của anh kỹ thuật, chị kế toán, mỗi nhân viên đem về 2,2 tỷ đồng doanh thu - Ảnh 2.

More than 3 years ago, replacing the price lists of FPT Shop was quite challenging.

 

“Before that, we sent a list of products whose price needed to be reduced and the employees would type it on the computer, then print, cut and replace the price. After that time, a part can be conducted automatically” Mrs. Diep said.

Such automation did not follow the way of Mobile World.

We did not deny the advantages of the electronic price lists when updating the temporary price and it can prevent the mistakes of human, but the investment in the electronic price lists like Mobile World, calculating, took approximately 20 billion VND.

“At that time, for us, 20 billion VND was quite a big amount of money. Meanwhile, we also found other solutions, procedures to replace the price and it also took 10 minutes. I thought that the situation was not so tense that we have to invest tens of billions VND in that electronic price lists”, Mrs. Diep told.

“Retail business is a tremendous industry and the innovations in business are abundant, and every year, we have a long list of many kinds of innovations in the earth to make”.

There was only one person in charge of replacing the price. After receiving the announcement of price replacement, this person just needed to get access into the software, choose the name of his/her shop, print on A4 paper and then replace the price.

The solution that Mrs. Diep mentioned was the process of replacing the price applied on the inventory data-based price-modifying system.

For instance, in order to change the price of the product Galaxy Note 8, after applying this product’s price on the software system, the system would base on the inventory quantity in the shops such as 3 products left in shop A, 2 products left in shop B, etc. in order to modify the price. All these tasks will be processed by the system in just a second. Normally, there were about 5 – 7 product whose price need to be replaced every day. The time for doing this is fixed after 10 pm, which is to avoid panic if the shops change the price during day time.

Although not using the system of electronic price lists, but with the strict process together with support from the company’s software, FPT Shop just spent only 10 minutes to modify the price every day.

Becoming the most efficient retailer in Vietnam thanked to the fact that Sales employees cum the work of the technicians and the accountants, each employee brings the avenue of 2,2 billion VND.

 

Bí quyết trở thành nhà bán lẻ hiệu quả nhất Việt Nam của FPT Shop: Sales kiêm luôn công việc của anh kỹ thuật, chị kế toán, mỗi nhân viên đem về 2,2 tỷ đồng doanh thu - Ảnh 5.

 

The story of improving the process of replacing the retail price, Mrs. Diep told it was just “a very small part” in a plenty of other improving stories in FPT Shop.

Retail business is a tremendous industry and the innovations in business are abundant. It is so abundant that FPT Corporation did not need to question, or deploy the competition, FPT Shop itself has “a long list of many kinds of innovation in the earth to make” every year.

“We have just been 5 years in the business, so the process needs to be more and more automatic, the more it is automatic, the less it depends on human, which can save costs and workforce”, the female general of FPT retail shared.

“Moreover, the rivals never stop. They also have new process and we still have further innovations to increase the competitiveness. That is the reason why we cannot stop. Our innovations are abundant and the story of replacing the price lists is just a very small part”.

One of the processes that is considered “big” in FPT Shop is the sales process.

The popular sales process in any phone shops and in FPT Shop previously is: The customers enter → The Sales employees welcome and give advice → The customers agree to take the products → The Sales employees write in a note and go to the warehouse to bring the products → The Sales employees take the products for the customers to check → The customers agrees and then make payment at the accounting counter → The products are brought to the technical counter to install → The customers leaves.

“Retail business has to count little by little, to think many things to optimize, otherwise we cannot compete”

The whole process of buying and leaving of an average customer takes about 30 minutes.

With the improved process, our Sales employees have to work by themselves with the support tool of a smart phone installed the software to support sales.

The process as follows: The customers enter → The Sales employees welcome and give advice → The customers agree to take the products → The Sales employees use the smart phone to insert the customers’ information, select the product, click the print button for the invoice to be automatically printed, and collect payment from the customers at the same time and install basic software for the customers from available installed software of the Sales employees’ machine.

With the new process, the Sales employees will always cum the job of the technicians and accountants. The whole process of buying and leaving of a customer is reduced to 10 minutes.

“Only specifically hard software needs the technicians, but 70% of customers entering the shops just install the basic apps. With the new process, the customers has only “one stop”, everything is done very quickly. Changing the sales process is a dramatic change indeed”.

“These are mandatory changes and we save a lot of resources. In the past we had to have an accountant, a technician, with a full ‘bureaucracy’, but not now anymore. Retail business has to count little by little, to think many things to optimize, otherwise we cannot compete”, Mrs. Diep shared.

According to the latest Euromonitor report, FPT Shop has been the most efficient retailer in Vietnam with the revenue rate per square meter of 15,717USD/m2. Meanwhile, Mobile World with the highest sales but the revenue rate per square meter is only 5,076USD/m2.

According to calculation, the revenue that each employee has brought surpassed that of Mobile World. At the present, each employee of FPT Shop brings about 2,2 billion VND in revenue. Meanwhile, with the number of over 36,000 employees, each employee of Mobile World brings about 1.8 billion VND.

* Are you satisfied with the current result?

Mrs. Nguyen Bach Diep – The Chairman and General Director of FPT Retail: Well, I cannot say that we are good now. We are not actually. We still have many things to do. Mobile Work is very excellent, they have been ahead so they many much time to consider many options so they can optimize as much as possible. We can also learn from them a lot.

* Which technology that you take pride in the most in FPT Retail?

Honestly saying, technology is the thing that I have not been very much proud of. In principle, we should have done more things because FPT itself is a big corporation.

For instance, just facial  recognition technology is a good thing. You enter our shop and we know who you are (if you have been here), our shop will run the electronic word like “Welcome Ms./Mr. X to our store”, or our employees will immediately place their hands on the chest and bow and say “Hello Ms./Mr. X”.

When the customers enter the shop, their name is called, their attitude will be different. Assuming you’ve just bought an iPhone, although there have been many customers entering but the employees know our name, what you have bought and also ask whether the iPhone that you have just bought runs well, whether you would like to buy the phone case because our store has just imported a lot of beautiful phone case.

In fact, FPT Shop has already had the technology, but the application has not been widespread. Now we install the App for the customers, when they return to FPT Shop, the App is open and the customer’s phone gets access to WiFi or Bluetooth, the “reading eye” of FPT Shop can connect and recognize the customer immediately when there are any regular customers entering and recognize their order history.

However, the problem is that the customers do not get access to Bluetooth or WiFi, so this App has not been really effective. We have many ideas but the technology also has limitation.

 

Nguyen Bao

According to Cafe Biz