Multiple electronics supermarket chains in northern Vietnam are in a race to expand operations beyond Hanoi in order to increase revenues and cash in on rising shopping demand in neighbouring provinces, especially before the Lunar New Year holiday (Tet), the Saigon Times Daily reported.
Electronics retailer Tran Anh has just opened three stores in Nghe An, Hai Duong and Hai Phong after investing in new facilities in Ninh Binh, Nam Dinh, Bac Ninh and Phu Tho provinces. Tran Anh now has 16 electronics stores in the northern region, including nine in the capital city.
Other big names like HC, Media Mart and Pico have also reached out to more northern provinces to capitalize on surging shopping demand before Tet, which falls on February 19. HC inaugurated a new store in Nghe An province last month while Pico is present in Phu Tho and Vinh Phuc provinces.
At present, Media Mart is leading the electronics market in the north with 18 stores, followed by Tran Anh with 16 stores, HC with 14 and Pico with seven.
Experts said northern electronics retailers are now focusing on operation expansion outside Hanoi as they are sure about chance of success in this region. Pico has had to close its store in Ho Chi Minh City in southern Vietnam to concentrate resources on the northern market.
Electronics retailers expected new outlets in Hanoi’s neighboring provinces will help them boost sales as competition in the capital city has turned intense.
Nghiem Xuan Thang, Deputy General Director of Tran Anh Digital World Co., was quoted as saying that the company plans to open four supermarkets in northern cities and provinces this year before expanding to HCM City and other southern provinces in the coming years.
Statistics from market research firm GfK showed Vietnamese consumers spent about 28 trillion VND on electronics and technology products in the third quarter of last year, up nearly 21 percent year-on-year.-VNA
Electronics retailer Tran Anh has just opened three stores in Nghe An, Hai Duong and Hai Phong after investing in new facilities in Ninh Binh, Nam Dinh, Bac Ninh and Phu Tho provinces. Tran Anh now has 16 electronics stores in the northern region, including nine in the capital city.
Other big names like HC, Media Mart and Pico have also reached out to more northern provinces to capitalize on surging shopping demand before Tet, which falls on February 19. HC inaugurated a new store in Nghe An province last month while Pico is present in Phu Tho and Vinh Phuc provinces.
At present, Media Mart is leading the electronics market in the north with 18 stores, followed by Tran Anh with 16 stores, HC with 14 and Pico with seven.
Experts said northern electronics retailers are now focusing on operation expansion outside Hanoi as they are sure about chance of success in this region. Pico has had to close its store in Ho Chi Minh City in southern Vietnam to concentrate resources on the northern market.
Electronics retailers expected new outlets in Hanoi’s neighboring provinces will help them boost sales as competition in the capital city has turned intense.
Nghiem Xuan Thang, Deputy General Director of Tran Anh Digital World Co., was quoted as saying that the company plans to open four supermarkets in northern cities and provinces this year before expanding to HCM City and other southern provinces in the coming years.
Statistics from market research firm GfK showed Vietnamese consumers spent about 28 trillion VND on electronics and technology products in the third quarter of last year, up nearly 21 percent year-on-year.-VNA
