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Vingroup has acquired all 87 Shop & Go chain of convenience stores for just US$1. There are 70 stores in Ho Chi Minh City and 17 in Hanoi.
Saigon Co.op, the leading grocery retailer in Vietnam, targets to grow its stores from 650 to 1,000 by year end.
Diep Dung, the group's chairman, said there will be new openings for Co.op Mart supermarket, Co.op Xtra hypermarket, Co.op food stores, Co.op Smiles and Cheers convenience stores. It will also launch a new format targeting wealthy shoppers which includes advanced technology to meet their demands. Last year, the retailer added 160 stores to its network despite challenges in finding appropriate locations.
The retailer shared that it hit record sales with VND 1tn (US$ 43m) per week for eight consecutive weeks last Tet. This was attributed to being well prepared with advanced stocking before the holiday period.
Keep up-to-date with the latest retail developments from Asia.
Saigon Co.op, a leading retailer in Vietnam, is developing a shopping centre and more supermarkets in Can Tho.
Can Tho is one of the five largest cities in Vietnam, with a population of 1.4 million people. The new shopping centre will be built in Cai Rang district, with a total floor area of about 40,000 sq m. Similar to SC VivoCity in district 7 in Ho Chi Minh City, it is designed to include a supermarket, dining, entertainment and health services. The investment is estimated at US$43m for the mall construction.
Besides building a new mall, Saigon Co.op will open five more supermarkets in the city from 2019-2021. It currently has 1 Sense City, 3 Co.op Mart and 8 Co.op Food stores. The retailer is increasingly seeking investment outside Ho Chi Minh city where it is based to build its network.
Lazada, the leading ecommerce platform in Southeast Asia, owned by Alibaba Group, plans to expand its cross-border trade for international brands.
One of the key initiatives announced was a revamped “Global Collection”, which is a dedicated channel to showcase Lazada’s cross-border merchants from around the world. The platform aims to help the brands grow their businesses and achieve higher visibility among the Southeast Asian shoppers.
Global Collection 2.0 uses an algorithm-based search function to filter the product offerings and highlight the vendors for shoppers to find them easily. Shoppers would also receive their deliveries much faster and within seven working days from the time their placed their order if they choosese the standard shipping option.
From April, cross-border sellers interested in joining Lazada can submit applications in the self-service system, instead of getting an invitation from Lazada. Once the review is completed, they will become Lazada merchants.
First launched in 2013, Lazada’s cross-border business has grown to become one of the most diverse marketplaces. The sales have quadrupled over the past three years and, with the aim of boosting sales further in 2019, the company plans to identify and nurture the top 300 brands in each of the six countries that it operates in – Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
The top five markets which cross-border sellers come from are Mainland China, Hong Kong, Korea, the US and Europe, with women’s fashion, home and living and kids’ fashion ranking among the most popular cross-border items.
VinMart, a leading retailer in Vietnam, is testing “Scan & Go” feature with a mobile application in 13 stores.
Shoppers need to download the VinID app and be a member to use the new feature. Once the “Scan & Go” feature is selected, shoppers can scan the barcode in the store and see the product information and prices in their electronic cart. Payment can be made upon checkout using a barcode at specific counters. Finally, shoppers can choose to pick up their shopping at the store or receive their delivery after two hours on the app.
The service is targeted at convenience-loving youths and busy shoppers. With home delivery, shoppers do not have to do the heavy lifting. Those who choose to pick up their shopping later can spend more time in the mall or watch a movie without carrying their groceries around. With the barcode payment feature, shoppers can also expect much faster payment. Special promotions will be displayed immediately for those using the app.
This in-depth guide to Vietnam explores the key trends in grocery retail and the growth strategies of the leading retailers in the country.
Five year growth forecasts for the grocery market, the leading retailers and modern trade grocery channels in Vietnam.