Vietnamplus

The Vietnamese market has seen an increasing amount of Japanese goods winning locals’ predilection.

The Saigon Trading Group (Satra) has announced it will open an additional 60 Satrafoods stores between now and the year’s end, raising its total nationwide to 217.

Retail companies are racing to expand but are challenged by high rental costs in major cities.

Ho Chi Minh City’s total retail and service revenue in the first six months of 2018 is estimated at 502.55 trillion VND (22.11 billion USD), up 11.7 percent over the same period last year.

Vietnamese goods are dominating the domestic market in recent days, thanks to reasonable prices and improved quality.

With huge investment, commodities suiting all tastes, ages and income levels, and round-the-clock services, convenience stores could make a splash in the Vietnamese food and beverage market.

HCM City’s retail sector has been growing steadily, achieving an 11.3 percent increase by the end of 2017 compared to 2016, according to the city’s Department of Industry and Trade.

Foreign retail businesses who came and introduced modern trade methods, technology together with professional management skills, have posed a big challenge to Vietnamese retailers.

Convenience stores were the most successful food and drink service channels in the past year, according to results of a survey released at a seminar held in Ho Chi Minh City on November 30.

Vietnam has returned to sixth place among the 30 most-attractive retail markets in the world this year according by A.T. Kearney, thanks to the expansion of convenience stores and mini-marts and the increase in use of technology in the industry.

Seventy-six new products of Japan have recently been brought into the Vietnamese market, according to the Japan External Trade Organisation (JETRO). ​

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.

After the opening of Japan’s first 7-Eleven store in Vietnam in June, the Republic of Korea (RoK)’s GS25 convenience store chain has official announced its intention to enter the market.

Japanese food businesses are seeking to increase their presence in Vietnam, according to Dau tu (Investment) newspaper.

Vietnam is forecast to be the fastest growing convenience store market in Asia by 2021, according to the Institute of Grocery Distribution (IGD).

All 160 7-Eleven convenience stores in Indonesia closed down on June 30.

The Mekong Delta is emerging as a destination for both domestic and foreign retail companies who have spotted potential in the local retail market, the Cong Thuong newspaper reported.

Convenience stores and minimarts have become increasingly popular in the country, with more than one third of households shopping there regularly, according to some analysts’ estimates.

The Saigon Trading Corporation (Satra) launched two convenience stores (Satrafoods) in the Mekong delta city of Can Tho on January 18 with a view of helping local customers to shop safe food.