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Vietnam leads Asia for growth in convenience stores

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Bangkok Post: Wednesday, 19 Apr 2017, 3:31PM

By Barry Elliott

Asia’s grocery market is the largest in the world, with a predicted 6.3 per cent compound annual growth rate (CAGR) up to 2021, according to the worldwide food and grocery research specialists at IGD. The size of the Asian market is forecast to reach US$4.8 trillion by 2021: equivalent to that of Europe and North America combined.

In the convenience store channel alone, IGD is forecasting a high double-digit CAGR over the next four years in Vietnam (37.4 per cent), the Philippines (24.2 per cent) and Indonesia (15.8 per cent), based on the performance of the leading convenience store operators in each market.

IGD has done extensive research and gleaned important insights that are useful to all of us working in the supply chain field across this region. The main reaction we have, however, is that what is presented may not be taking into account the already well-developed base in some of the countries included, especially the likes of Thailand and others that are found lower in the rankings.

Based on our experience, we would say that what IGD is finding and predicting is well founded, but the important observation may be more about where the various countries are in their evolution than about relative growth.


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Nick Miles, head of Asia-Pacific at IGD, says: “The retail markets in these three countries are gradually shifting from traditional to modern trade, and there are several factors driving this: a positive economic outlook, a significant increase in GDP per capita, deregulated markets encouraging more foreign investment, and rapidly changing shopper habits.

“Among all the bricks-and-mortar grocery channels, convenience shows the strongest growth prospects in Asia, thanks to rapid urbanisation, a growing young population and greater levels of disposable income.”

Discussing the particularly strong growth forecast for Vietnam, Mr Miles says: “Convenience stores in Vietnam have become popular destinations for young consumers to shop and hang out, as the stores provide them with an air-conditioned environment, well-organised shelves and seating areas, high-quality products and, in some stores, free WiFi.”

Vietnam, the Philippines and Indonesia share similar characteristics that make their convenience markets particularly ripe for growth, according to IGD:

Store expansion. These three convenience markets are predominantly driven by an increase in store numbers. For example, the number of convenience stores operated by the top five retailers in the Philippines has more than doubled in the last five years. As well, retailers are gradually shifting their focus from the capital to more provincial areas for greater opportunities.

Local players gaining a stronger foothold. Asia’s convenience market has traditionally been dominated by Japanese retailers. But there has been more market consolidation and, most noticeably, domestic players such as VinMart in Vietnam and SM Retail in the Philippines have been scaling up their operations and establishing leadership in their local markets.

Neighbourhood mini-supermarkets are becoming more popular. Apart from the modern convenience store format, local operators such as Indonesia’s Indomaret and Dairy Farm’s Wellcome format in the Philippines have developed a successful neighbourhood mini-supermarket model that better caters to local needs. These mini-supermarkets are typically between 150 and 300 square metres and focus on fresh food, top-up grocery items and food for tonight.

Mr Miles adds: “Across all the region’s key growth markets, we expect to see retailers and manufacturers increasing their investment in convenience, championing innovative new products and formats such as food-to-go, and above all, working collaboratively to ensure they are making the most of these exciting growth prospects.”

http://m.scmp.com/business/article/2088862/vietnam-leads-asia-growth-convenience-stores
 
the Japanese and Koreans make good business in Vietnam :tup:

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Vietnam is famous for their markets which sell fresh fruits and vegetables.
So these will now be replaced with convenience stores instead
 
Vietnam is famous for their markets which sell fresh fruits and vegetables.
So these will now be replaced with convenience stores instead
correct. pls feel free visit Vietnam traditional markets before they disappear :tup:



 
This is a Chinese company.

A Guangzhou-based company.

Miniso is a nice infusion of Chinese-Japanese business style with Chinese ownership.

So, it is quite likely to be mistaken by even our neighbors for a Japanese convenient store. When I first saw it in Mainland China when I was travelling in Jinan, I also thought it was a Japan-owned company.

Then, to my pleasant surprise, I was told that was a China brand.

Miniso is quite popular in Vietnam, as has been told by @Viet

***

Spectacular Scene of MINISO's Three Stores Opened in Vietnam

correct. pls feel free visit Vietnam traditional markets before they disappear :tup:

Traditional markets (should) never disappear (but perhaps regulated). They are the souls of the cities in East Asia.
 
A Guangzhou-based company.

Miniso is a nice infusion of Chinese-Japanese business style with Chinese ownership.

So, it is quite likely to be mistaken by even our neighbors for a Japanese convenient store. When I first saw it in Mainland China when I was travelling in Jinan, I also thought it was a Japan-owned company.

Then, to my pleasant surprise, I was told that was a China brand.

Miniso is quite popular in Vietnam, as has been told by @Viet

***

Spectacular Scene of MINISO's Three Stores Opened in Vietnam



Traditional markets (should) never disappear (but perhaps regulated). They are the souls of the cities in East Asia.
Nice disguise getting Vietnamese fall into the trap. I wonder how many Korean stores in Vietnam are controlled by the Chinese. I think our people should test the sales staff on Japanese and Korean language if they can before buying.
 
Nice disguise getting Vietnamese fall into the trap. I wonder how many Korean stores in Vietnam are controlled by the chinese. I think our people should test the sales staff on Japanese and Korean language if they can before buying.
No matter which store you choose, you will still buy products from China, no matter Daiso, Muji or what.
So anyway, they make a contribution to Chinese economy directly or indirectly.
 
Nice disguise getting Vietnamese fall into the trap. I wonder how many Korean stores in Vietnam are controlled by the Chinese. I think our people should test the sales staff on Japanese and Korean language if they can before buying.

It is not a disguise. The company was established in China by a Chinese investor (CEO and president) and a Japanese designer. It is a nice fusion between China's business culture and Japan's convenient store success, which is well proven.

Vietnam is a small fish; the company has more than 1800 stores around the world.

The sales staff in Vietnam will most likely be Vietnamese; so, how can you test them? Instead of that, you can simply make a search on Baidu, or its Vietnamese equivalent.
 
Nice disguise getting Vietnamese fall into the trap. I wonder how many Korean stores in Vietnam are controlled by the Chinese. I think our people should test the sales staff on Japanese and Korean language if they can before buying.

There is a British clothing retailer called Superdry which many in UK also believe is Japanese

foLSqA5p.png


Apparently the Japanese text is gibberish and doesn't make any sense.
 
There is a British clothing retailer called Superdry which many in UK also believe is Japanese

foLSqA5p.png


Apparently the Japanese text is gibberish and doesn't make any sense.

Even I almost fell for this and about to buy from their store. Having learned that that was not actually a Japanese company, my enthusiasm dwindled and I chose not to buy.
 
We certainly cannot compete with Vietnam on growth of convenient stores.

With a mere 30 million population, we already have 2,144 7-Eleven Stores in the country plus thousands of other branded franchised convenient stores. With such saturated situation, 10.5% growth rate is all we could managed.

Vietnam should aim for 5,000 convenient stores.
 
It is not a disguise. The company was established in China by a Chinese investor (CEO and president) and a Japanese designer. It is a nice fusion between China's business culture and Japan's convenient store success, which is well proven.

Vietnam is a small fish; the company has more than 1800 stores around the world.

The sales staff in Vietnam will most likely be Vietnamese; so, how can you test them? Instead of that, you can simply make a search on Baidu, or its Vietnamese equivalent.
Man testing on korean and japanese language is a joke. The article says MINISO makes the highest sales record on the opening days ever. The company opens 300 stores in Vietnam within one year. That is not too bad for a small fish.

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Some good Vietnamese markets here in the states too.

A few just in my city alone.

https://en.m.wikipedia.org/wiki/Little_Saigon,_Philadelphia
Vietnamese community in the States is very strong. Welcome to a pho :yahoo:

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