Shoppers at a Saigon Coop supermarket (Photo: sggp.org.vn)This diversification will create significant competition between different typesof retailers, so they must capitalise on their own strengths.
Supermarket customers are generally older, aged 50-65, while Vietnamese aged 18-24prefer convenience stores and most shoppers at minimarts are 25-34 years of age.
Nielsen suggested that supermarkets accommodate changing customer shoppinghabits, improve the customer experience in shopping and payments, and enhancedigital application and online and offline cooperation.
Other market researchers have said that retailers with abundant resources,strong market understanding, and updated business strategies will gain a competitiveedge.
Saigon Co.op has moved to diversify its retail format, to lead the market inproduct quality and food safety, promote the development of its own brands, andcomplete a modern supply chain.
It targets adding 136 stores in 44 cities and provinces to its network thisyear, serving 2 million shoppers every day. It is also focusing on completing logisticsfacilities, upgrading services, and expanding new cashless payment methods.
The BRG Group, meanwhile, has decided to shake hands with Japan’s SumitomoCorporation in a bid to secure the lion’s share of Vietnam’s retail market./.
VNA
