Convenience stores represent a mere 0.3% of Vietnam’s retail market, where foreign companies hold sway, much like in hypermarkets and shopping malls. Many convenience store chains have been grappling with protracted challenges with profitability as they have been searching for sustainable business models to capture market share. Convenience store count As of March 2023, Vietnam had 3,720 convenience stores nationwide, a slight decline versus 2022, according to market research firm Q&Me. Of these, around 2,600 are located in HCMC, with the remainder in Hanoi, Danang, Binh Duong, and other parts of the country. These statistics are also supported by data from Statista. A September 2024 report by Japanese consulting firm B&Company said that Vietnam has 1,374 convenience stores. Meanwhile, a Nielsen Vietnam survey in late 2023 showed Circle K was leading the market with 48% of revenue share, followed by Ministop with 15%, GS25 with 14%, Family Mart with 12%, and 7-Eleven with 8%. These figures highlight the clear segmentation of Vietnam’s retail market and underline the growing appeal of the convenience store sector. They also illustrate the adaptability of businesses in tailoring their strategies to suit the market. According to the Ministry of Industry and Trade’s classifications, Type 1 […]
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