VietNamNet Bridge - As a fast developing retail market in Asia, Vietnam has attracted many foreign retail giants in recent years. However, Vietnamese retailers still control 75 percent of market share. Vietnam has attracted many foreign retail giants Big C has 35 supermarkets in many cities and provinces, MM Mega Market has 19 retail centers, and Lotte March 13 supermarkets and hypermarkets, while Aeon, which has just arrived, also has four supermarkets. Foreign retail brands have also developed convenience stores. In HCMC alone, there are 1,000 convenience stores with Family Mart, B’s Mart, Circle K, Ministop and Shop & Go brands, which are gradually replacing traditional groceries. The business expansion plans by the foreign brands has caused worries to domestic retailers. Family Mart, for example, stated it will open 1,000 shops by 2020, while 7-Eleven wants to open 1,000 by 2027. A survey by Savills in HCMC in 2017 showed that 17 percent of consumers preferred going to … [Read more...] about Do Vietnamese retailers have the upper hand over foreigners?
Mm retail store
Starting as a small cooperative with its first supermarket in the down town of Ho Chi Minh City, Saigon Co.op has gone on to become one of leading retail brands in Vietnam. After 20 plus years, the brand has 100 supermarkets, three hypermarkets, three trade centers and more than 450 Co.op Food and Co.op Smile outlets. In 2017, Saigon Co.op had sales of nearly VND30 trillion ($1.29 billion), up 7 percent against 2016. "To further expand our business, the company will also increase the number of hypermarkets. There will also be a chain of high-end shops selling carefully selected products," said Do Quoc Huy, marketing director of Saigon Co.op. Another big domestic name is Vingroup. In the first nine months of 2018, the group's retail sales reaped revenues of VND4.73 trillion (around $203 million), accounting for 20 percent of its total revenues. In 2017, Vingroup's retail revenues reached nearly VND14 trillion ($600 million). With the aim of having its retail business bring in 50 … [Read more...] about Domestic retailers’ revenue up, foreign firms accumulate losses in Vietnam
Illustrative photo (Photo: VNA) HCM City (VNA) – Domestic retailers must work to outline rational business strategies to gain a competitive edge over their foreign rivals, especially as the local retail market has become more attractive than ever to foreign investors. According to statistics from the General Statistics Office, thanks to strong growth, the Vietnamese retail market has been billed as an apple in the eyes of foreign investors. The retail sale market was valued at 88 billion USD in 2010, which surged to 130 billion USD seven years later, and is expected to reach 179 billion USD by 2020. American consulting firm A.T. Kearney said that Vietnam is now home to 800 supermarkets, 150 shopping malls, 9,000 traditional markets, and some 2.2 million household shops. In the past year, more than 100 convenience stores were opened in the country, most of which are owned by foreign firms and groups. Japanese giant Family Mart has put 130 stores into operation in Vietnam so … [Read more...] about Domestic retailers strive to gain competitive edge
Of the many cooking oils on the shelf at Big C Thang Long in Hanoi, 37-year-old Ms. Do Hong Van picked up a two-liter bottle of Big C soya oil. “I began using this cooking oil a few months ago, and its quality is no different to the cooking oils of famous brands, while its price is better,” she said. When shopping in supermarkets like Big C, Lotte Mart, and Aeon, it’s easy to find products such as cooking oil, fish sauce, rice, candy, sausages, eggs, other fresh food, and home appliances bearing a “home brand”, or the label of the retailer. Many choose these home brands because of their cheap price and trust the reputation of the retailer. For foreign retailers, the development of home brands is considered an important part of their development strategy in Vietnam’s retail market. Providing choice Home brands are not a new concept in Asia as they’ve been around for 20 years or more. In Vietnam, price is important to most consumers and … [Read more...] about Retailers shift towards own brands
VietNamNet Bridge - With well-known brands Big C, MM Mega Market, Robins, Nguyen Kim, B’s Mart, Lan Chi Mart and C-Express, Thai investors have a range of modern retail types in Vietnam, from shopping malls and supermarkets to home appliance centers and convenience stores. Thai investors have a range of modern retail types in Vietnam In 2015, just after four years of establishment, Central Group Vietnam (CGV), acquired 49 percent of stake of Nguyen Kim. In 2016 alone, CGV acquired two big brands – Big C Vietnam and Lan Chi Mart. Through M&A deals, CGV has also brought other brands from Thailand and other countries to Vietnam. In 2016, after wrapping up the deal of taking over Metro Cash & Carry, BJC renamed the supermarket chain as MM Mega Market Vietnam, and since then, it has been following the business strategy with B2B (70 percent) and B2C (30 percent) Investment modes. RELATED NEWS Japanese, Thai goods reach every corner of Vietnamese market … [Read more...] about Thai investors acquiring more retail market share