Business

Local firms still have room in electronics retail market

Although a number of foreign companies have made a foray into the local electronics retail market, there are still room for domestic firms to open and operate their own supermarkets, according to industry insiders.
Although a number of foreign companies have made a foray into the localelectronics retail market, there are still room for domestic firms toopen and operate their own supermarkets, according to industry insiders.

The electronic devices and appliances retail market stillhave much room for local enterprises and they can compete on par withforeign rivals, Nguyen Duc Tai, Chairman of The Gioi Di Dong (MobileWorld) Investment Joint Stock Company, was quoted by The Saigon Times.

Expertssaid as local electronics giants such as Nguyen Kim, Dien May Cho Lon,Thien Hoa have opened their supermarkets mainly in cities, shops inother provinces still fare well because local customers prefer buyingstuff at the shops near their homes.

The owners of bigelectronics brands in cities such as Hanoi, Ho Chi Minh City, Da Nangand Can Tho have not branched out to rural areas, and customers have toplace orders online. Therefore, local firms still have great chances ofexpanding their operations in the electronics retail market.

Electronics supermarket chains like Dienmay.com and HC are opening new supermarkets in different parts of the nation.

TheGioi Di Dong Investment Joint Stock Company, which holds 30 percent ofthe mobile phone retail market share, plans to increase the number ofDienmay.com stores from 20 late last year to 45-50 by the end of thisyear as part of its business expansion plan. Most of the new facilitieswill be in southern and central regions.

Thien Hoa is movingahead with shopping malls along with electronics stores to diversifyproducts for customers. It opened such a shopping mall on an area of10,000 square meters in HCM City’s District 10 late last year.

Several firms have also mulled plans to open electronics sections inside shopping malls to cut costs on space rents.-VNA
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