The wholesale market in the Srinakarin area is intensifying as Go Wholesale, a membership store under Central Retail Corporation (CRC), commences its operations today.
The store competes with Makro cash & carry, owned by the Chearavanont family that controls the agribusiness conglomerate Charoen Pokphand (CP) Group.
Makro has renovated its Srinakarin branch, which is located just a couple of kilometres away from the inaugural Go Wholesale outlet. To make a splash, Makro even roped in superstar Nadech Kugimiya for a marketing event held at Makro Srinakarin, coinciding with the official opening of Go Wholesale.
Furthermore, CP Extra Plc (CPAXT) unveiled a 'hybrid wholesale model' at the Makro store in Samut Prakan on Oct 5, allowing Makro and Lotus's to operate under the same roof for the first time after both retail models had been established independently.
"The food market in Thailand is estimated to be worth over 2.6 trillion baht. It's substantial enough to accommodate multiple wholesale operators, and Go Wholesale aims to provide a fresh choice for all," said Suchada Ithijarukul, group chief executive of Central Food Wholesales.
Of the total market, 35% belongs to traditional grocery retailers, 28% to modern trade, 19% to hotels, restaurants and catering services (HoReCa), and 9% each to hotels and institutions such as hospitals, schools, offices, and factories.
Mrs Suchada said her company invested 375 million baht to construct the first Go Wholesale outlet on Srinakarin Road, spanning 7,000 square metres of space and providing a comprehensive selection of large-scale food ingredients, featuring over 20,000 items ranging from fresh and dry foods to consumer goods, sourced from various locations worldwide. In addition to these offerings, the company provides in house products, including the A Choice brand for premium-grade products and the Super Save brand for household and packaging items.
Go Wholesale Srinakarin operates daily from 6am to 10pm and offers free membership registration both in-store and online. The firm has ambitious plans to amass 20,000-30,000 members from the Srinakarin area and achieve break-even point within two years.
According to Mrs Suchada, the firm is set to open three more Go Wholesale stores in the next two months, with one in Chiang Mai and the others in Chon Buri, in order to gauge market demand in each location.
"Although Go Wholesale is a newcomer in Thailand's wholesale market, our teams, especially those handling the fresh food business, are seasoned professionals with 10-20 years of experience in the wholesale field, both in Thailand and abroad. We've learned from the mistakes of others and applied these lessons to offer appreciated services and experiences at Go Wholesale. This is how we build our brand and foster customer loyalty," Mrs Suchada said, adding that the company envisions opening a Go Wholesale store in every province as part of its long-term plan.
Go Wholesale presents a fresh alternative for customers and entrepreneurs, particularly those in the HoReCa sector, food service providers in factories, hospitals and various other institutions, as well as retail stores, she said.
"Through our in-depth surveys, entrepreneurs need a new experience that goes beyond product and package sizes, aligning with their specific requirements. We offer various payment channels that suit their needs. Competition drives product quality and service to new heights."