Foreign retailers, from Metro, Auchan, Casino Group to Parkson, have had to leave Vietnam because they did not understand the market well.
Nguyen Anh Duc, deputy general director of Saigon Co-op, said he once criticized Co-opmart SCA Hanoi, a branch of Saigon Co-op, because the supermarket displayed old bananas for sale on inauguration day.
|Foreign retailers, from Metro, Auchan, Casino Group to Parkson, have had to leave Vietnam because they did not understand the market well.|
Localization means gathering the tastes and shopping needs of local consumers to build up a list of products for supply that can satisfy needs.
Personalization is understanding shopping culture and demands for experience during the shopping process in order to offer new creative shopping models to attract customers.
Nearly 2,600 supermarkets and sale points in 50 provinces/cities throughout the country and the data about 8 million customers are the important factors for VinCommerce to build a strategy.
The product lists will be designed for each locality, while the retailer will closely cooperate with local suppliers to satisfy the needs of every group of customers, according VinCommerce’s CEO Thai Thi Thanh Hai.
Vietnamese conglomerate Vingroup said on December 3 it has entered into a share swap agreement to merge its retail and agriculture arms with Masan Consumer Holdings, to create the country’s biggest retail company.
Foreign retail groups undoubtedly are a powerful influence in the domestic market. However, Vietnamese retailers are vowing to ‘play big’ to gain the upper hand in the home market.
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