Food & Hotel Vietnam is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726

Retail giants to open hundreds of new supermarkets, convenience stores in Vietnam by year-end

02/08/2022
Retail giants to open hundreds of new supermarkets, convenience stores in Vietnam by year-end
This image shows customers at a supermarket in Vietnam. Photo: Quang Dinh / Tuoi Tre

Retail groups in Vietnam are proceeding with plans to build hundreds of more outlets from now to the end of this year, as they are accelerating the expansion of their market shares in the country.

Nguyen Van Quy, deputy general director of Ho Chi Minh City-based WinCommerce, said on Monday last week that the firm would open more than 700 new WinMart+ stores and over 20 supermarkets and hypermarkets this year.

Currently, the process to enlarge market share is on the right track and WinCommerce will concentrate on developing mixed-use stores and franchise shops, Quy said.

He emphasized that multi-utility outlets are expected to help optimize time and convenience for customers in shopping, while the franchise model will be a way for the WinMart+ brand to be more present in the daily life of Vietnamese consumers. 

“We think this is the time to accelerate the expansion of our business scale after completing the successful rebranding and restructuring,” Quy said.

“More than 300 supermarkets and WinMart/WinMart+ stores have been opened nationwide since early this year.”

In addition to expanding its current sales network, this retail chain has also launched a new brand, Beng’s, which specializes in providing convenient, good-quality food at affordable prices.

Similarly, Saigon Co.op, also based in Ho Chi Minh City, which runs the Co.op Food, Co.opSmile, and Cheers chains, plan to open 80-100 new points of sale before the end of 2022, with focus put on Co.op Food outlets, which show excellence in business efficiency.

Another big retailer that has sped up network expansion is Japan’s AEON Vietnam, which concentrates on developing medium- and small-sized supermarkets bearing the brand name ‘AEON MaxValu.’

This retail model will be multiplied to reach 100 outlets by 2025, said AEON Vietnam, headquartered in Ho Chi Minh City. 

Over the first half of this year, various retail groups have developed shops under the convenient supermarket model in inner-city residential areas across Vietnam, with sizes of 300-500 square meters per store. 

Currently, modern retail systems in large cities account for 40-50 percent of the shopping demand, compared to 30 percent previously.

The omni-channel retail model is being deployed by many retailers on a large scale to increase their market coverage, according to a report by Vietnam Report JSC.

Many businesses are conceiving or have just launched other retail models, such as shop-in-shop and multi-brand stores.

At the same time, retail groups also aim to develop supermarkets into complexes that also provide financial services, including traditional banking services, digital payment gateways, and others.

All the said moves have helped the retail market in Vietnam become extremely active since the country re-opened its economy in the wake of the COVID-19 pandemic in October last year.

Source: Tuoi tre

Share this post

Must Read

PRODUCTS EXHIBITION
05/04/2022

You may be interested in

22/03/2023
Starbucks and a decade-long struggle to conquer Vietnamese consumers
By the end of 2022, the number of Starbucks stores in Vietnam has not reached 100 units,...
22/03/2023
The company recommended not imposing a separate consumption tax on sugary beverages.
Businesses argue that sugary drinks are not related to obesity, so they recommend not including...
22/03/2023
Having spent over 270 million USD to acquire Phuc Long, Masan only gained a meager profit of 38 billion VND from it.
Although spending billions of Vietnamese dong to own up to 85% of the shares of Phuc Long, the tea...
09/03/2023
Vietnam Airlines resumes cooperation with Air France from March 26th
Nguyen Tien Hoang, head of Vietnam Airlines’ branches in France and Europe, said he would...
09/03/2023
Fruit, vegetable exports rise 17.8%
Durians are sold at a market in Ho Chi Minh City. Photo by VnExpress/Hong ChauVietnam’s fruit...
09/03/2023
Opportunities to boost export of processed foodstuff to Asia -Pacific, African markets
The Ministry of Industry and Trade (MoIT) hosted a conference with Vietnamese trade representative...
02/03/2023
Kido establishes a subsidiary to produce fish sauce, wants every kitchen shelf to have more seasoning powder, soy sauce, fish sauce from Kido
Kido contributed 196 billion VND to TA Foods and Spices, equivalent to 98% ownership. This is a...
02/03/2023
The battle of Thais in the Vietnamese energy drink market: “Golden bull” Red Bull fights “Green buffalo” Carabao
In the energy drink market, if Red Bull is a powerful old “Golden Bull”, Carabao is...

Subscribe to Our eNewsletters

    captcha
    BOOK A STAND