The world of retail has changed almost beyond recognition since Choo Peng Chee, former CEO, Food for DFI Retail Group, first entered the industry 40 years ago.
“I actually grew up in a little retail shop in Singapore and obviously, when you have a little family business, you get involved all the time,” he says. “I was literally born as a retailer.”
“Give the customer what they want – it’s not rocket science!”
His wealth of experience uniquely qualifies him to reflect on the sector’s past and envision its future.
“Much has changed since I first came into the supermarket industry in Singapore,” Choo recalls. “We had wooden shelves and manual cash registers. Now, customers can order at their own convenience – at home, in the office or even while commuting.
“I am both proud and grateful that I’ve had the opportunity to spend so much time in one industry and nearly 30 years in one organization.”
Retail trends
The industry is evolving, with a notable trend away from larger hypermarkets. “The big-box trend of 20 years ago is fading,” he reveals. “Customers prefer smaller stores for convenience – to quickly grab what they need and go.”
Choo also highlights the role of technology in this transformation. “We must embrace technology to improve our operations,” he says.
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He explains that AI could enable automated stock monitoring and replenishments; however, cost remains a major consideration. “Generative AI is an area to watch; it will likely play a major part in retailing soon.”
A leader of people
Technology isn’t the only thing that has developed during Choo’s time in the industry. As he has become more experienced, he has evolved into someone who influences, coaches and motivates through his leadership approach.
“If I go back to the earlier days, I was very much a disciplinarian who demanded compliance,” he reflects. “I’m still a believer in discipline, but over the years I have evolved into someone who provides influence rather than just orders.”
It is finding a balance between these two often counterposing approaches that Choo believes characterizes an effective and successful leader. “We respect one another, we engage, we talk to one another, we know one another – but things have to get done.”
“Retail is not an easy industry. But once you’ve decided you’re in it, you have to give it your best shot.”
These skills have helped Choo experience a number of significant moments during his time with DFI Retail Group. One particularly proud achievement has been his successful time working internationally.
“I spent 10 good years with the 7-Eleven franchise in the four markets of South China, Macau, Hong Kong and Singapore,” he says.
“When I took over that portfolio in South China in 2013, we had more than 600 stores, and we were making losses. Then, 10 years on in 2023, when I handed over that portfolio, we had more than 1,700 stores and a profitable operation.
“I have worked with people of different ethnicities and from different markets, including Cambodia, China, Hong Kong, Macau, Taiwan, Indonesia and Singapore. I just think this makes you a much richer person.”
Beneficial outcomes
Reflecting on his extensive career in retail, Choo offers wise advice to the next generation of retail leaders.
“Retail is not an easy industry,” he admits. “But once you’ve decided you’re in it, you have to give it your best shot.”
The secret, he says, is to curb your own ego and put the interests of others before your own.
“You’ve always got to think about your team members and your customers more than yourself. The customer must always come first. That’s one of our DFI values.”
“You’ve always got to think about your team members and your customers more than yourself. The customer must always come first.”
It fits neatly into a ‘social contract’ Choo makes with his team members, which promises beneficial outcomes for all.
After 40 years in the industry, Choo plans to take a short break. While continuing with DFI as a Senior Advisor, he embraces the mantra of ‘carpe diem’, ready to explore new experiences and opportunities.
