An Empirical Study on Consumer Value Innovation for Global Retail Company in Vietnamese Distribution Market

Regarding restructuring value factor of Lotte Mart, key strategies could be proposed as follows; First of all, Lotte Mart would be recommended to launch the lowest price discount store, as new category to be created, with enhancing brand image of cheaper price to take a lead the market ahead of Bic C and Vin Mart. Another strategy is expanding business scale. Lotte Mart would be recommended to expand new openings focusing on the commercial area of Hanoi, the capital city of Vietnam, to overcome less numbers of stores. (Lotte Mart: 2 stores, Bic C: 13 stores in North part of Vietnam) At the last point, PB (Private Brand) developing needs to be expanded to enhance the competitiveness of product better than Bic C and Vin Mart for changing perception of local customer. Lotte Mart should establish the strategy following direction to zero base approach from the customer viewpoint, strengthen the product innovation having attraction to customers and accumulating internal capabilities.