This month’s 20th store opening will mark a milestone in Mobile World Investment Corporation’s (MWG) ambition to scale up market coverage and climb to the top position in Cambodia this year.
A Bluetronics store on the opening day.
According to MWG, its largest competitor in Cambodia has 20 stores while all its competitors together have less than 50.
Its 50th store by year-end means Bluetronics will have three times the number of outlets as its largest competitor.
Bluetronics is similar to the company’s Dien May Xanh chain in Vietnam.
The consumer electronics market in Cambodia is comparable with Vietnam’s about a decade ago when choices were limited and the market was awash with goods of unknown origin and quality, including imported items, MWG’s market development team said.
‘Dien may Xanh overseas’ will be the new future of the Thegioididong brand, the company stated.
The modest number of stores also means limited availability of warranty and after-sales service.
Three years ago, MWG began opening BigPhone stores in Cambodia following a similar operating model as its thegioididong.com chain in Vietnam.
These exploratory moves paved the way for the company to change tack by opening the Bluetronics chain with larger floor areas and larger range of goods from electronic appliances to mobile phones and accessories.
While all the 20 stores are in the Phnom Penh area in the south, Bluetronics will march on the northwest, namely Siem Reap, to achieve full market coverage by the end of this year.
The market development team estimated that a network of 50 stores will be the appropriate size for the Cambodian market.
The target of having 50 stores by the end of the year is testimony to MWG’s determination to conquer this foreign market.
To put the enormity of the task in perspective, the market development team said opening a store in Cambodia is 10 times more difficult than in Vietnam.
While Cambodia is not a large market, it is nevertheless an important one for MWG.
Bluetronics provides a wide range of goods and attractive promotions.
Doan Van Hieu Em, CEO of MWG said: “By increasing our network to 50 stores, we will account for 50 per cent of the market. However, the most important target is that MWG should take this successful recipe to other countries like Indonesia, the Philippines and more.
“In Vietnam, MWG achieved success with the Dien may Xanh model. We have a winning recipe, and only need to adjust it to fit the culture of each new market.”
In Cambodia for instance MWG adopted its Dien may Xanh model and enlisted a lot of local expertise to help tweak it in many ways under the watchful eye of a few Vietnamese senior managers.
This has helped Bluetronics not only make its showrooms’ decor local but also offer promotions and after-sales service that meet local customers’ needs.
“MWG’s suppliers include several global groups who can easily accompany us in our overseas endeavors, and ‘Dien may Xanh overseas’ will be the new future of the Thegioididong brand,” Em said.