Many chains are posting tiny percentages of openings compared to initial ambitions, Photo: Le Toan There is one year left for Japan’s second-largest convenience store chain FamilyMart to reach its target of opening 1,000 stores in Vietnam. Despite beginning operations in the country a decade ago, the group has opened only 151, a paltry 15 per cent of the intended target. In 2011, Japan’s Ministop also landed in Vietnam with the desire to open 500 stores in the first five years, with that figure increasing to 800 units by 2018. However, only 27 such stores can be found now. FamilyMart and Ministop are two of the more outstanding cases of convenience store chains failing to develop in Vietnam in the way they intended. In the meantime, other foreign players have also faced difficulties in developing chains to expectations despite the long deadlines they have imposed on themselves. According to a new report on Vietnamese retail store status by domestic market researcher … [Read more...] about Convenience stores facing target hurdles
Convenience stores around me
BUSINESS NEWS IN BRIEF 11/12
Firms promote Vietnamese handicrafts in Italy Nearly 40 Vietnamese firms are introducing their handicraft products like rattan, brocade and earthware items at the 2018 L'Artigiano in Fiera in Milan, Italy. The 23rd edition of the L’ Artigiano in Fiera takes place from December 1-9. It is an international industry event that’s been celebrating artisans across the world and their creations for more than 20 years. The event is also a rendezvous for Vietnamese handicraft businesses to promote their goods, such as rattan and bamboo products, brocades to international customers in recent years. In addition, Vietnam’s conical hat is featured in the fair’s promotional video this year. Trade Counsellor of the Vietnamese Embassy in Italy Nguyen Duc Thanh said the L'Artigiano in Fiera offers opportunities for Vietnamese firms to promote their products and study market demand, as well as learn experiences in production and design to meet the demand of consumers … [Read more...] about BUSINESS NEWS IN BRIEF 11/12
Maintaining Hanoi’s markets
Many consumers now visit both supermarkets and traditional markets, depending on the type of produce they need Several years ago, the news on removing traditional markets to build shopping malls in Hanoi caused a huge stir among both the press and the general public. Many stated that rejecting traditional markets meant rejecting community activities and cultures thousands of years old. Under this pressure of urbanisation, well-known markets in the capital such as Mo, Hang Da, 19/12, and Trung Hoa were transformed into modern shopping malls and modern markets located in the underground floors of apartment blocks. Despite being planned and ensuring hygienic standards, they have been struck with poor sales. The Hang Da shopping mall is the most highlighted case of failure. Accordingly, a majority of its kiosks had to close permanently due to poor performance. Underground markets, despite receiving a high number of customers, still face strict competition from supermarkets and … [Read more...] about Maintaining Hanoi’s markets
Technology simplifies house renting in Vietnam
“If you have never lost your deposit while renting a house, you have not grown up yet.” The Ohana app opens, helping students and young people in Vietnam easily find a house in big cities. When a young woman entrepreneur said this in jest on Shark Tank, the reality TV show for start-ups, audiences laughed but recognised she was telling it as it was: it is risky and not easy to rent a house in Vietnam. For a long time the demand for rented houses and condos in cities has kept increasing, mostly from students who leave their hometown and move to cities for study. Renting a house in cities has never been easy for students and other renters because of the high risk of losing one’s deposit or getting ripped off in the form of high rents. Such problems could now become a thing of the past thanks to modern technologies as young entrepreneurs apply big data and use social media to create phone applications for house leasing services. The young lady on Shark Tank … [Read more...] about Technology simplifies house renting in Vietnam
Technology simplifies house renting in Viet Nam
Viet Nam News By Thu Ngân HCM CITY – “If you have never lost your deposit while renting a house, you have not grown up yet.” When a young woman entrepreneur said this in jest on Shark Tank, the reality TV show for start-ups, audiences laughed but recognised she was telling it as it was: it is risky and not easy to rent a house in Việt Nam. For a long time the demand for rented houses and condos in cities has kept increasing, mostly from students who leave their hometown and move to cities for study. Renting a house in cities has never been easy for students and other renters because of the high risk of losing one’s deposit or getting ripped off in the form of high rents. Such problems could now become a thing of the past thanks to modern technologies as young entrepreneurs apply big data and use social media to create phone applications for house leasing services. The young lady on Shark Tank is one such. Cathy Thảo Trần was … [Read more...] about Technology simplifies house renting in Viet Nam