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Vietnam lures more foreign convenience stores

February 21, 201735


Vietnam, one of the world’s 30 most attractive emerging retail markets since 2008, is lure more and more domestic and foreign convenience stores, local media reported Tuesday.

7-Eleven, an international chain of convenience stores with headquarters in the United States and its parent company in Japan, is recruiting extensively in Vietnam’s Ho Chi Minh City to prepare to enter the Vietnamese market, daily newspaper Thanh Nien (Young People) reported.

7-Eleven will open its first store in Ho Chi Minh City in early 2018, and have 300 stores after three years, and 1,000 stores after 10 years, the Vietnamese newspaper quoted foreign sources.

Vietnam is now home to some 800 supermarkets, 150 shopping malls, 9,000 traditional markets, 2,000 convenience stores and mini-supermarkets, and 1.3 million small shops run by local families. Outstanding Vietnamese and foreign brands already being in Vietnam include Circle K, Shop&Go, B’s mart and Vinmart+.

According to international market research firm Kantar WorldPanel, over one third of Vietnamese families bought goods at convenience stores and mini-supermarkets last year.

In 2016, Vietnam posted total goods retail sales of over 110 billion U.S. dollars, up 10.2 percent against 2015, according to the country’s General Statistics Office.