Convenience stores aid growth of Vietnam’s retail industry
Vietnam has returned to sixth place among the 30 most-attractive retail markets in the world this year according by A.T. Kearney, thanks to the expansion of convenience stores and mini-marts and the increase in use of technology in the industry.
Hanoi (VNA) – Vietnam has returned to sixth place among the 30most-attractive retail markets in the world this year according by A.T. Kearney, thanks to theexpansion of convenience stores and mini-marts and the increase in use oftechnology in the industry.
Thecountry is attractive to retailers, with a market of more than 93 millionpeople, relatively young population and an estimated GDP of 220 billion USD.
Vietnamhas been named on the list by US global management consulting firm A.T. Kearney since 2008.According to the firm’s latest Global Retail Development Index (GRDI),convenience stores and mini-marts are the fastest-growing segment in thecountry.
CircleK and FamilyMart entered Vietnam in 2009 and are expanding rapidly. FamilyMartnow has about 100 stores across the country and plans to have more than 800stores by 2020.
Japaneseretailer 7-Eleven also plans to open its first Vietnamese store in 2018 in afranchise agreement with Seven System Vietnam and a total of 1,000 stores areplanned in the next decade. Vinmart opened approximately 1,000 stores lastyear and is set to increase that number by about 1,500 by the end of this year.
Butthese stores are under pressure from supermarkets in terms of shoppingexperience and product diversity and from conventional channels in convenience.
Vietnamhas seen a strong rise of modern retailing channels that posted growth of 7.7percent from April 2016 to March 2017, compared to 6.1 percent of traditionalchannels. Despite that, modern channels only accounted for 25 percent of totalretailing revenue.
Technologyhas lent a helping hand to modern retailing, making it more convenient byproviding new payment tools, improved online shopping experience andmultichannel marketing.
TheGioi Di Dong (Mobile World), one of Vietnam’s top 10 retailers in 2017, hasspent 13 years developing its own integrated technology-based management systemthat supports different aspects of administrations, from sales, inventory,financial report, to salary payment, customer database and human resources. Itis how the group manages its 1,500 stores and more than 31,000 workers.
Butnot every retailer is ready to invest in technology, and technological trends oftenswitch before they can catch up, according to Nguyen Thi Tong, Chief ofSecretary Group, Association of Vietnam Retailers.-VNA
The Saigon Union of Trading Co-operatives (Saigon Co.op) is affirming its status as Vietnam’s leading retailer by opening additional 8-10 Co.opMart supermarkets this year.
After the opening of Japan’s first 7-Eleven store in Vietnam in June, the Republic of Korea (RoK)’s GS25 convenience store chain has official announced its intention to enter the market.
Japan’s convenience store chain 7-Eleven plans to recruit 10-20 Vietnamese interns to work at its stores in Japan starting in mid-2018, reported Japanese newspaper Nikkei.
As the country’s consumption demand increases to match national economic progress, more and more foreign retailers are entering the Vietnamese market to a warm welcome from buyers, while Vietnam’s domestic brands look for their own growth strategies against the newcomers.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
A retail store of Vinmart+ (Photo: Vingroup)
