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FPT Shop, a leading technology retailer, is venturing into motorcycle and bicycle sales to boost its revenue stream. Photo by: Thúy Hạnh |
At the 2023 Annual General Meeting of FPT Digital Retail Joint Stock Company (FRT – the parent company of FPT Shop), the company’s leadership shared their plans to improve revenue amid a sluggish technology product market.
According to the meeting documents, FRT intends to leverage its existing retail spaces by registering additional business lines, including the sale and repair of motorcycles and bicycles, as well as the sale of related parts and accessories.
The company will also focus on improving gross profit by introducing home appliances in existing FPT Shop stores. Mr. Kien, a company executive, shared that over 300 FPT Shop stores are already selling home appliances, and they aim to expand this number to 600 by the end of the year.
Regarding store expansion plans, Mr. Kien noted that given the current challenging economic climate, the company will proceed with caution. He emphasized that any further expansion will depend on market conditions and consumer demand.
In addition to diversifying its product offerings, FRT is also implementing promotional programs and price support policies to stimulate consumer demand during a period of high inflation and reduced purchasing power. These factors are expected to impact the company’s gross profit margin for 2023, potentially making it lower than in previous years.
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