Vietnam’s grocery chains are on the rush to expand their networks as the country’s retail industry is expected to record double-digit growth this year.
Despite the ongoing Covid-19 pandemic, Vietnam’s grocery retail landscape is getting more vibrant and several retailers have ambitious expansion plans.
The country’s largest retailer, electronics chain Mobile World, says it plans to open and renovate more than 500 Bach Hoa Xanh grocery stores this year. Last year, the chain added 711 new outlets, taking its network to 1719.
Meanwhile, Saigon Co.op’s premium supermarket banner Finelife has launched its fourth outlet, in Ho Chi Minh City’s District 7, housing more than 17,000 products. Finelife is also the country’s first supermarket chain to have self-checkout counters and automated e-label technology.
Besides Finelife, Saigon Co.op aims to increase the number of Co.opmart and Co.op Food stores to 2000 by 2025.
Despite their ambition to expand, local retailers still face fierce competition from foreign retail brands, including Aeon, Lotte Mart, BigC and convenience-store operator GS25.