Convenience store is the “youngest” retail channel as it is meant for young customers in Vietnam – one of the nations with the largest young population in the world. In 2017, Japan’s 7-Eleven convenience store chain swayed Vietnam’s retail market in the southern metropolis of Ho Chi Minh City. This year, the Republic of Korea (RoK)’s GS Retail (GS Group) is planning to launch the first convenience store GS25 in HCM City on January 19. It moves to expand the market to the capital city of Hanoi after two years and open more than 2,500 stores across Vietnam in the next 10 years. GS25 is confident to become one of the leading convenience stores in Vietnam after three years of operation. According to Yun Ju Young, managing director of GS25 Vietnam, with its 28-year experience, the company has invested in a fresh food processing plant in the Mekong Delta province of Long An to supply goods for GS25 convenience stores, and invited Korean cuisine experts to Vietnam to develop Korean products in the Southeast Asian market. The RoK’s Ilahui fashion accessories convenience stores have set the target of launching at least 200 stores across localities of Vietnam in the next five years. Early major brands such as Family Mart (Japan), Ministop (a subsidiary company of Japan’s AEON Group), Circle K (the US), and Shop & Go (Singapore) have continuously expanded their systems. Currently, Circle K has 250 stores and Shop & Go has over 108 stores in Vietnam. According to… [Read full story]
In February 2017, Seven-Eleven Japan began advertising for staff to operate its first retail establishment in Vietnam, which will open in Ho Chi Minh City in the near future.The expansion of the Seven-Eleven brand into Asia first began when US based Southland Corp., the original founder of the 7-Eleven chain, entered Taiwan back in 1980.Subsequently, in 1991, Seven-Eleven Japan acquired US based Southland Corp. and then in turn was acquired by Japanese retail giant Seven & I Holdings Co. In 2014, Seven-Eleven Japan, as a then subsidiary of Seven & I Holdings Co., successfully opened its first outlet in Beijing,…... [read more]
In the past, convenience stores differentiated themselves from privately run groceries by position, diverse goods and modern services. Now, they tend to set up large stores integrated with fast food shops to attract youth and office workers.HCMC residents were reported as queuing up at the first 7-Eleven shop at Saigon Trade Center on June 15, the opening day of the shop.N.N. Huong, who visited with her teenage daughter, said she was curious about the new brand and she wanted to find out if there was any difference with the Ministop shop located next to her house.Seven System Vietnam said 7-Eleven…... [read more]
Seven System Vietnam JSC, the 7-Eleven franchisee in Vietnam, has posted recruitment information on its website, a clear indication that this convenience store giant will launch its first stores in Vietnam pretty soon.Market watchers believe the participation of 7-Eleven will make the competition fiercer though early birds have not reaped their fruit yet.Three or four years ago, many were skeptical about the success of convenience stores in Vietnam because a majority of consumers in the country would not kick their long-held habit of sitting on their motorbikes while buying sundry stuff along the road. In addition, there is a widespread…... [read more]
With delivery and convenience store culture spreading in Vietnam, a bowl of pho or even the next batch of groceries have never been so close to home. When District 1 resident Van returns home from work in Ho Chi Minh City, her groceries are already waiting for her, thanks to Co.opMart's new home delivery service. "I'm very happy with such a fast-tracked service," Van says, adding that she no longer has to carry heaps of goods home from the supermarket during rush hour. Major supermarket chains like Co.opMart and Maximart have rolled out free home delivery services, carried out on…... [read more]
The 7-Eleven convenience store will come to Vietnam to bank on relaxed rules on establishment of new businesses and strong growth in the retail market.In May this year, the Government announced a plan to relax requirements for opening small shops with floor space of 500 square meters or less. The rule may go into effect by the end of the year.Vietnam’s growing middle class makes the retail market look increasingly appealing. The market was projected to reach U$109.8 billion last year, up 2.4 times from five years earlier. The figure is predicted to rise to US$179 billion in 2020.In mid-2015,…... [read more]
