The first FujiMart using modern Japanese-style will open in Hanoi this month (Photo courtesy of BRG)Hanoi (VNA) – Fujimart Vietnam Retail, a joint venture betweenJapanese trading house Sumitomo and local retail and real estate conglomerateBRG Group, will open its first Vietnamese supermarket in Hanoi this month.
The Fujimart hopes to use its modern Japanese-style retail expertise to attractincreasingly well-off consumers in the country.
Keisuke Hitotsumatsu, CEO of Fujimart Vietnam, said through the Fujimart retailmodel, both BRG and Sumitomo hope to provide Vietnamese people with delicious,nutritious and safe food.
“Though the retail market is very competitive, Vietnam’s macro-economy recentlyshowed that the demand of the Vietnamese retail market is growing at adouble-digit rate. We recognise the trend will continue as Vietnam’s economicprospects are very positive, making Vietnamese living standards get better dayby day,” he said.
He added that the food retail market is about to undergo a major transformation,as growing interest in food safety shopping could shift from traditional wetmarkets to modern supermarkets.
In 2017, Vietnam’s retail sector earned nearly 129 billion USD, up 11percent from 2016, a high growth compared with other nations in Southeast Asia.
With an over-90 million population, nearly 70 percentof which are at working age, 34 percent living in urban areas and annual incomeper capita reaching 2,385 USD, Vietnam is considered to have huge room forretail growth.
Hanoi and HCM City are the two most developed cities, with atotal combined retail area of 2.5 million square metres.
However, the figure represents an average of 0.2 squaremetres per person, much lower than in other regional cities, such as Thailand’sBangkok at 0.89 square metres, Singapore (0.75 square metres), China’s Beijing(0.65 square metres), Malaysia’s Kuala Lumpur (0.64 square metres) andIndonesia’s Jakarta (0.44 square metres).-VNA
VNA
