There are currently about 7,483 convenience stores and minimarts nationwide, accounting for more than 93% of all modern retail outlets, reflecting the growing popularity of the 'bringing supermarkets closer to home' model among consumers.
As one of the fastest developing among Vietnam’s modern retail types, the revenue of convenience stores is forecast to increase by 226.4 billion USD, with a compound annual growth rate of over 13% from 2023 to 2028.
Japanese retailer Ryohin Keikaku has announced that it will establish MUJI Co., Ltd., Vietnam in August 2019 and open its first store in the southern economic hub of Ho Chi Minh City in 2020.
The food processing and drinks industry has seen growth of 7 percent in recent years, with more and more foreign investors deciding to pour money into the sector.
As the country’s consumption demand increases to match national economic progress, more and more foreign retailers are entering the Vietnamese market to a warm welcome from buyers, while Vietnam’s domestic brands look for their own growth strategies against the newcomers.
Japan’s convenience store chain 7-Eleven plans to recruit 10-20 Vietnamese interns to work at its stores in Japan starting in mid-2018, reported Japanese newspaper Nikkei.
The property and retail conglomerate Vingroup JSC (Vingroup) has denied information that it plans to sell its supermarket chain VinMart+ to the US convenience store giant 7-Eleven.
