return icon Vietnamnet.vn

Convenience stores help domestic retailers compete with foreign rivals

With certain advantages, convenience stores have been an increasingly popular shopping destination for customers, and they have also become a choice for domestic retailers to compete with foreign rivals.

 

 

{keywords}
Consumers shop at a convenience store in HCM City

 

The comment was made by Dang Thuy Ha, Director for the northern region at the Nielsen Vietnam market research company.

Some surveys show that Vietnam owns many favourable conditions to develop convenience stores when the urbanisation rate has reached 30 percent and young people account for up to 57 percent of the population. Notably, the middle class – the main driver of convenience stores’ development – will rise almost three-fold by 2025 compared to at present.

According to Nielsen Vietnam, the number of convenience stores nationwide has increased four-fold since 2012.

Many foreign retailers like Circle K of the US or Shop&Go of Singapore came to Vietnam between 2005 and 2008 and have continually expanded their networks. In Hanoi and Ho Chi Minh City, Circle K has had more than 300 stores while Shop&Go has opened over 160 stores.

Domestic businesses have also showed good performance in developing convenience stores with such brands as Co.op Food, Satra Foods or Vinmart+.

Last December alone, the VinCommerce JSC opened up to 238 Vinmart+ stores across the country, raising its convenience stores to 1,700 in total and becoming the biggest chain of such stores in Vietnam. The firm plans to open 3,000 similar outlets in the coming years.

Not only retailers of consumer goods, tech product sellers of Vietnam have also entered this market, such as Bach Hoa Xanh stores of the The gioi Di dong (Mobile World) JSC.

Deputy Director of the Hanoi Department of Industry and Trade Tran Thi Phuong Lan said despite the modest area, convenience stores are located within residential areas and offer consumers a variety of essential goods from food, beverages to needles and thread. Customers can even pay electricity, water and telephone bills or book plane tickets.

She noted the municipal People’s Committee has issued a plan on developing trade and services until 2025. Accordingly, Hanoi aims to have 1,000 convenience stores by the end of 2020.-VNA

MORE NEWS

Mega-urban project Vinhomes Ocean Park 2 - The Empire launched

Vinhomes Joint Stock Company has officially launched the mega-urban project Vinhomes Ocean Park 2 - The Empire.

'Urban wonders' in Vinhomes Ocean Park 2 - The Empire

The focus of the real estate market in the East of Hanoi at present is the Vinhomes Ocean Park 2 - The Empire project.

New medical technique helps men with no sperm become fathers

Hung Vuong Hospital has performed a technique using immature sperm and mature eggs for two fathers who cannot produce sperm.

SEA Games 31: Vietnam retains regional ‘throne’ in athletics

Athletics competitions of SEA Games 31 wrapped up on May 19 with the last four events and host Vietnam retaining its ‘throne’.

Late President Ho Chi Minh in the hearts of int’l friends

Late President Ho Chi Minh was not only a beloved leader of the Vietnamese people, but his life and career also left good impressions on many international friends and won their hearts.

US agrees to import Vietnamese pomelos

The Ministry of Agriculture and Rural Development (MARD) has just received a notice from the US authorities saying they have completed the appraisal of procedures of importing Vietnamese pomelos.

Lao student studies Vietnamese to achieve artistic dream

Before deciding to study in Vietnam, Ting Yangkeo was already passionate about one thing: art.

Cultural flower tour opens

Hanoi-based travel company Asia Exotica has just launched a new service offering tourists a chance to experience Hanoians' long history of floral tradition.

Vietnam has huge potential for saving energy: experts

For a developing society and economy like Vietnam’s, energy is the engine behind growth, especially in post-pandemic recovery.

HCMC needs over US$3 bln for housing development

The People’s Committee of Ho Chi Minh City has just reported to the Ministry of Construction on implementing the housing policy and real estate market in 2022.

Blockchain industry yearns for new talent

A serious shortage of personnel has become a bottleneck hindering the development of blockchain companies, even though Vietnam is among the top five countries globally in terms of blockchain tech.

Vietnam tops SEA Games 31 medal tally with 125 golds

Vietnam had claimed 125 gold, 76 silver and 74 bronze medals as of May 18 evening, the sixth official competition day of the ongoing SEA Games 31, retaining the top position in the medal table.

Prime Minister Pham Minh Chinh concludes US trip

Prime Minister Pham Minh Chinh and his entourage arrived in Hanoi on May 19, successfully concluding their trip to the US to attend the ASEAN-US Special Summit, and to make visits to the US and the United Nations.

Raising the ‘Mekong river monster’, farmer pockets billions of dong

Ho fish (Catlocarpio siamensis), called the ‘Mekong river monster’, are being raised by farmers in cages on rivers in Vietnam.

Vietnam highlights vital importance of security and safety in East Sea

Senior Lieutenant General Hoang Xuan Chien, Deputy Minister of National Defense led a Vietnamese delegation to attend the ASEAN Defense Senior Officials' Meeting Plus (ADSOM Plus) held in Phnom Penh, Cambodia on May 18.
back_to_top