VietNamNet Bridge - The competition in the Vietnamese retail market has been consistently hot over the last decade. The competition in the retail market has been consistently hot Following Maximark, Ocean Mart and Metro AG, Fivimart closed in October. In the last six weeks, 23 Fivimart supermarkets have merged with Vinmart and were renamed Vinmart. The rapid expansion and retailers’ ambitious plans may cause people to think that Vietnam has many supermarkets. In Hanoi and HCMC, convenience stores are seen everywhere. In the convenience store market segment, Vinmart is now leading in a number of retail points, followed by Bach Hoa Xanh chain of The Gioi Di Dong with 405 shops and 500 by the end of the year. 7-Eleven and GS25 plan to open thousands of shops in the next 10 years. Family Mart, which has 130 shops in Vietnam, is planning to open 700 more by 2020. RELATED NEWS What is the future for Vietnam’s retail industry? Who is the most profitable retailer? … [Read more...] about Some retail brands disappear quietly, others expand to great fanfare
Retail
Infusion of Vietnamese and Japanese retail at Fuji Mart
To mark the opening of the first Fuji Mart outlet in Hanoi, Keisuke Hitotsumatsu, CEO of Fuji Mart Vietnam talked to VIR’s Phong Lan about the new retail store’s model, in which Vietnamese food traditions are being honoured through the famous Japanese service culture. Keisuke Hitotsumatsu, CEO of Fuji Mart Vietnam FUJI MART IS THE RESULT OF STRONG CO-OPERATION BETWEEN VIETNAM’S BRG AND JAPAN’S SUMITOMO. WHY DID THE TWO CHOOSE RETAIL, WHICH IS HIGHLY CONTESTED AT THE MOMENT? Despite retail being very competitive, Vietnam’s macroeconomic situation shows that demand is growing at a double-digit rate. We recognise the trend will continue as Vietnam’s economic prospects remain positive, and we see living standards improve day by day. Many friends of mine said that the purchasing attitudes of the Vietnamese are changing as the economy grows. Furthermore, the food retail market is about to undergo a major transformation. Growing interest in … [Read more...] about Infusion of Vietnamese and Japanese retail at Fuji Mart
Japanese retail giant to open first supermarket in Vietnam
Fujimart Vietnam Retail, a joint venture between Sumitomo and Vietnam’s BRG Group, has announced it will open its first supermarket in Hanoi by the end of this year. The corporation also plans to open two outlets in the capital city next year. "Although the retail sector is very competitive, the macroeconomic situation shows that the Vietnamese market is still growing at a double-digit rate. With a positive economic outlook next year, we expect living standards to continue rising," said a Sumitomo representative. In Vietnam, the middle and affluent class, categorized as those earning $714 a month or more, would double to 33 million, about a third of the population, between 2014 and 2020, the Nikkei Asian Review reported recently, citing a study by the Boston Consulting Group. The supermarket will follow the Japanese model, where prepared foods will be made in-store, and temperature control will keep food fresh, the representative siad. Sumitomo Corporation, a 100-year-old … [Read more...] about Japanese retail giant to open first supermarket in Vietnam
Competition intensifies in Vietnam’s retail market
The Hanoitimes - there remains large potential for the future growth of Vietnam’s retail market, given by the country’s large population with rising income and improved living standards. The competition in the Vietnamese retail market is continuously heating up as both domestic and foreign retailers are boosting expansion plans, while some distribution networks have even been taken over by others. VinCommerce is now Vietnam’s largest retailer The market has recently seen the disappearance of the Fivimart supermarket chain after a decade of operation. Vingroup’s retail arm, VinCommerce, in October acquired 100 percent of the Fivimart supermarket system from its operator, Nhat Nam Joint Stock Company, to own all 23 Fivimart supermarkets nationwide. After the takeover, all Fivimart supermarkets have been renamed to VinMart, the supermarket brand of Vingroup. According to VinCommerce, the deal will help the firm expand its retail network. VinCommerce … [Read more...] about Competition intensifies in Vietnam’s retail market
Retail, services sales hit $156b
Customers shop for vegetables at a supermarket in Ha Noi. — VNS Photo Doan Tung The country’s total retail sales and services revenue reached US$156 billion in the first 11 months of the year, rising 11.5 per cent over the same period last year, or 9.34 per cent with inflation excluded. This marks the highest increase so far this year. According to the General Statistics Office (GSO), retail sales of goods and services in November alone was estimated to reach VND385 trillion ($16.47 billion), a 1.1 per cent increase against October and representing a 12.2 per cent year-on-year rise. Retail sales of services reached VND288.6 trillion in November, increasing 0.8 per cent from the previous month. Revenue from restaurant, accommodation and catering services was also up 2.3 per cent to VND47 trillion last month. Restaurant and accommodation services, which accounted for 12.2 per cent of the total, posted an 8.6 per cent year-on-year rise. Retail sales of goods in the first 11 … [Read more...] about Retail, services sales hit $156b