7-year-journey of MM Mega Market to become the unique and leading wholesale retail giant in Vietnam
Looking back on the 7-year-journey in Vietnam’s Retail Market, MM Mega Market (MMVN) has constantly contributed to the sustainable values of the local community and successfully achieved major milestones in positioning itself as the pioneering and leading Wholesale Retailer.
MMVN has diversified its businesses, including Hypermarkets, Food Service Centers, Depots, Sourcing Platforms, and Gia Tot (Grocery store). Furthermore, we focus on the digitalization of the whole supply chain and operational systems, whereas developing a B2B E-commerce platform and its extended MM Mall Marketplace in August for Professional customers, and online Click & Get for Household customers with a holistic shopping experience.
MM Mega Market’s remarkable achievements in Vietnam
In recent years, MM Mega Market has played a leading role in developing a unique business model as the Wholesale Retailer.
- Best Fresh Best Price with a closed supply chain model – From Farm to Fork: This is described as MMVN’s greatest strength that focuses on continuously enhancing the scale and quality standards of fresh food supply. Following the strategic sustainable development in Vietnam, since 2005, MMVN has established a closed clean supply chain model – From Farm to Fork. So far, MMVN has been operating five large-scale sourcing platforms for fresh foods, including Vegetables in Da Lat, Fish in Can Tho, Pork in Dong Nai and Ha Noi, and Fruit in Tien Giang. At these platforms, MMVN has worked closely with agronomists to efficiently support farmers from seed selection to the harvesting process, and guarantee that the quality, stabilized price, origin traceability, and product information are strictly controlled.
Best Fresh Best Price is ensured based on the closed supply chain model of MM Mega Market
- Develop Private Labels and mega-sized products: In response to the growing importance of Private-Label products when there exists a significant change in consumer shopping behaviors in the Retail sector after the pandemic, MM Mega Market puts a strong effort in developing our private labels ranging from fresh food and dry food to non-food, including Happy Price, We Are Fresh, MMBio, Besico, etc. In addition, MMVN distributes mega-sized products at wholesale prices to provide customers with the most optimal shopping experience and their adaptability to the deflation and global economic downturns.
MM Mega Market puts a strong focus on private-label ranges
- Two largest price stabilization programs – Wholesale Price and Lock Price: This year, MM Mega Market has officially launched two holistic stabilized pricing campaigns at 21 MMVN centers nationwide. Specifically, while Wholesale Price aims to benchmark preferential prices for more than 40-50 fresh food items with the traditional wholesale market every two weeks, Lock Price offers stabilized prices for 500-700 commodities in three months. From July 2023, MMVN continues to promote Wholesale Price, whereas launches the second wave of Lock Price with a remarkably increasing number of commodities and Private-Label products.
The two largest price stabilization program is launched at MM Mega Market
- Gia Tot – Transforming traditional Groceries into the modern retail model: Concerning significant changes in customer shopping behavior, on March 2022, MM Mega Market kicked off the “Gia Tot” project, which is seen as a strategic cooperation between MMVN and individual groceries owners who desire to establish their businesses and transform traditional groceries into the modern retail model. Gia Tot aims to elevate the traditional stores’ standards in terms of designs and management systems. In June 2023, Gia Tot celebrates its 500th mini-store and continuously proves itself as the most trustworthy partner of local grocery owners.
Support the traditional groceries to increase their competitive advantages with Gia Tot
- Digitizing the Last Mile Delivery and launching MMPro Marketplace as a specialized E-commerce platform for Professional customers: In the digitalization and omnichannel competition, the supply chain system – Last Mile Delivery and the unique E-commerce platform for Professional customers – MMPro Marketplace are considered MM Mega Market’s key strategies in the upcoming period. Accordingly, MMVN strives to connect with a diversification of reputable B2B suppliers and provide over 30,000 professional customers with tailor-made solutions, including specialized product portfolios and exclusive offers for their businesses.
- Accompanying local farmers to support OCOPs: Pioneering in developing the supply chain of sustainable and safe agricultural products, MM Mega Market constantly improves the quality of Vietnamese agricultural products to bring high-quality OCOP products at a stabilized price. MM Mega Market focuses on cooperating with farmers and cooperatives to develop permanent OCOP corners at 21 MMVN centers nationwide. Moreover, MM Mega Market actively participates in the supply-demand connection and business matching programs between Ho Chi Minh City and other regions such as the Mekong Delta, Southeast, South and Central Coast, and North Central to extensively connect and sign the MOUs with agricultural products and OCOPs suppliers.
MM Mega Market accompanies farmers with OCOP programs
- Striving to become a Direct Import Destination with the prominent “Taste of Country” Program: MMVN’s exclusive Taste of Country aims to enhance its directly imported product portfolio and create numerous opportunities to bridge Vietnamese consumers with unique culinary cultures around the world. In 2022, MMVN successfully organized the series of “Taste of Country” Program which attracts tremendous interest from the Media and customers in Vietnam. These unique “Taste of Country” programs will be arranged more holistically to successfully achieve the milestone of becoming a Direct Import Destination in Vietnam soon.
Taste of Country is the annual program of MM Mega Market to promote imported products
- Increasing export volumes and revenues: In 2022, MM Mega Market’s export turnover has reached 60 billion VND, boosting a turnover of 80 billion VND in 2023 with more than 2000 tons of exporting products. In the upcoming period of 2023, MM Mega Market prepares to export to four other markets: Korea, Netherlands, USA, and Malaysia. And with our tireless effort, we are also aiming to conquer two more high-demanding markets with strict import processes, particularly Europe and Japan. In order to achieve the target, MMVN has set up an export department to synergize with the global network of the BJC Group to promote high-quality Vietnamese products at competitive prices.
Corporate Social Responsibility of MM Mega Market in Vietnam
Following the sustainable development goal, MM Mega Market continually ensures to fulfil its obligations to society through comprehensive diverse CSR programs under four primary groups: Education (e.g., the “Elevating Your Career” Scholarship for outstanding university students), Sharing (e.g., support necessities for Charity Kitchen and disadvantaged families), Health (e.g., support Pediatric Patients who had Cleft Surgery), and Environment (e.g., pursuing a Policy of Saying no to the use of plastic bags at Checkout).
On top of this, MM Mega Market has made a significant commitment to the corporate goal of net-zero emissions by 2040 through sustainability initiatives. So far, we have put Rooftop Solar Systems into service for energy efficiency at 11 MMVN centers. While MMVN adopts energy-saving equipment, including LED, refrigerators, chiller HVAC, etc. at its existing stores, we strive to achieve the EDGE Green Certificates for new stores in 2023. Recently, MMVN has further enhanced its partnership with Green Connect for organic waste treatment. We continuously look for strategic collaborations with all potential partners to organize various CSR activities aligned with the sustainable orientations of the Vietnamese Government.
With the above contributions, MMVN was honored with the Asia Responsible Enterprise Award 2022 (AREA 2022) in the Green Leadership category of Enterprise Asia. That Award marked an important milestone in MM Mega Market’s journey to become the Leading Green Retailer in the Vietnamese market.
MM Mega Market celebrates its 7th birthday in Vietnam
A series of attractive Sales Programs to celebrate the 7th Birthday of MM Mega Market Vietnam
On this special occasion, MMVN brings its largest promotion “Sale Sap San” via around 2,000 SKUs to celebrate the 7th Birthday combined with the Summer Shopping Season 2023 of Ho Chi Minh City. Accordingly, we bring numerous great offers, focusing on mega-sized products with various and super attractive promotions mechanics such as Buy 2 for 1, Golden Hour at Shock Price, Two-Week-One-Price of VND 40k, Last Super Sale week with up to 90% off, and Multiply MCard Points, etc.