21:55 (GMT +7) - Tuesday 25/04/2017

Business

Mobile World trialing lottery ticket sales

Released at: 16:35, 20/03/2017

Mobile World trialing lottery ticket sales

Photo: Duc Anh

Technology retailer piloting the sale of Vietlott lottery tickets at stores in HCMC.

by Hai Van

Mr. Nguyen Duc Tai, Chairman of the Mobile World Joint Stock Company (HSX stock code MWG) has revealed more information about the company’s plans to sell Vietlott lottery tickets.

In association with the Vietnam Lottery Company (Vietlott), MWG will trial the sales at two or three stores in the beginning.

MWG’s CEO Tran Kinh Doanh confirmed with VET that the company is now testing sales in Ho Chi Minh City. “After the trial, we will make a decision but we have not decided anything just yet,” he said. “When sales become more formal, we will have more detailed information.”

Other representatives from MWG previously told local media that selling Vietlott tickets was simply a tool to attract more customers. “It’s the same as convenience stores accepting payments of electricity bills,” one said.

MWG has set a revenue target of VND63.28 trillion ($2.78 billion) for this year and net profit of VND2.2 trillion ($96.53 million). To reach the goals it will emphasize the importance of innovation in its development.

If it wants to increase sales, analysts have said, it will have to diversify its offerings beyond just technology. It may not be able to sustain its new store openings and at some point the market will become saturated.

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