Tanit Chearavanont at Forbes Global CEO Conference : Why Makro Had to Build Its Own Technology

At the Forbes Global CEO Conference 2026 in Singapore, Tanit Chearavanont, Group CEO of the Wholesale Business at CP AXTRA, shared how Makro transformed from a traditional cash-and-carry wholesaler into a retail technology business - and why the journey demanded bold decisions, perseverance and the conviction to challenge the status quo.

From investment banking to the family business

Tanit never planned to join the family business. After several years at UBS, where he worked across investment banking, M&A and consumer and retail sectors, a conversation with his grandfather, CP Group Senior Chairman Dhanin Chearavanont, changed his direction.

'My grandfather said, I don’t understand why you’re working until three in the morning, or you’re at the printers until seven. Why don’t you use that energy for me?’

Within two weeks, Tanit had resigned and joined CP Group. Years later, that same willingness to channel his energy into difficult challenges would shape Makro’s transformation today.

We actually need to build our own systems

When Tanit took on a leadership role in the wholesale business, online sales accounted for only around 3% of Makro’s revenues. A conversation with a senior businessman brought the problem into sharp focus. He said that his wife ordered from Makro Click (previous Makro’s App) on Monday but sometimes had to wait until Friday to receive her purchases.

‘I was like, ‘Oh, something is wrong. Something is seriously wrong.’

The experience reinforced the need to rethink how Makro served customers. Within three years, online sales participation grew to approximately 34–35%. 

Tanit said Euromonitor’s recognition of Makro PRO in 2025 as Thailand’s largest first-party platform and largest e-commerce grocery platform. 

Another defining moment came when the company transitioned from Makro Click to Makro PRO. After appointing superstar Yaya as its brand ambassador, a surge of orders overwhelmed the existing software-as-a-service (SaaS) order management system, causing it to collapse.

'That was the first point in time where we said, ‘we actually need to build our own systems, our own software.’

The team rebuilt the order management system in-house using the open-source platform Medusa in just six months. Today, the system supports approximately THB 250–300 million in daily online sales and processes around two million parcels a day.

'This is something that a lot of large organizations today actually need to take very seriously if you want to disrupt yourself before getting disrupted.'

You have to have that conviction

Transformation was far from straightforward. Store managers worried that e-commerce would cannibalize store sales, while senior managers questioned the impact of technology investments on earnings.

The decision to replace Makro Click with Makro PRO faced further resistance. A consultancy warned that shutting down the established platform within four or five months would fail, recommending a transition over two years instead.

Tanit pushed ahead. Daily online sales have since grown from around THB 20 million on the previous platform to approximately THB 250–300 million, depending on the day.

'You have to have that conviction, and you have to have that perseverance to push through those changes,' he said.

For Tanit, transformation means staying focused on the long-term direction, even when results are not yet fully understood by others.

Do the most difficult thing that no one else can do

When Tanit presented Makro PRO’s THB 72 billion platform value and its market position to his grandfather, Dhanin initially challenged the claim. Tanit returned with the Euromonitor certificate as evidence.

CP Group’s Senior Chairman’s response was to set an even tougher target: maintain the same profit margin but double the revenue.

The exchange captured an important principle of transformation: leaders should challenge conventional thinking and pursue what others may consider difficult or impossible.

Leadership means moving forward despite doubt

Asked what advice he would give to the next generation of business leaders, Tanit returned to the importance of being bold, persevering and maintaining a clear vision.

When he announced the decision to shut down Makro Click , he presented the decision to his team with complete conviction. However, he personally admitted that he still had doubts at that time.

'In front of my team, 100% conviction. But when I went home, I was still iffy about my decision.'

For him, this is part of leadership: a leader must demonstrate conviction so that the team can move forward together, even when the decision is difficult and the outcome uncertain.

His closing message was simple: be bold, persevere, believe in the direction you have chosen and give your team a clear vision of what you want to achieve.