Overseas retailers seek to expand NV operations with diverse sales and service offerings

Multiple sockets

Meanwhile, AEON Việt Nam said it will open more outlets in different locations with a variety of retail models, including malls, department stores, supermarkets, convenience stores and specialty stores.

In doing so, it will continue its digital transformation process, focusing in particular on O2O (offline-to-online) promotion; develop products to meet customer needs and further contribute to sustainable development by promoting environmental protection and social responsibility.

Furusawa Yasuyuki, general manager of AEON Việt Nam, said they aim to open 30 malls by 2030 with other models.

The South Korean Emart Vietnam Co., Ltd. (acquired by the Thaco group) will bring two new shopping centers into service.

Hirai Shinji, chief representative of the Japan External Trade Organization (JETRO) in Việt Nam, said the Vietnamese retail market remains very attractive for Japanese investors.

Despite the impacts of the pandemic, Japan’s retailers and non-manufacturing companies are expanding their businesses in Việt Nam to take advantage of its young population and rising per capita income, he added.

A recent survey by JETRO revealed that more than 55% of Japanese companies intend to expand their business in Việt Nam.

According to the survey, conducted from August to September last year, more than 56% of companies expect higher profits this year, and only 9.6% believe their profits will decline.

Modern retail distribution has encountered tremendous obstacles over the past two years due to the impacts of the pandemic (changes in customer trends, human resources, warehouse operations and supply chain disruptions ).

Although Việt Nam’s retail market saw a slow growth rate due to the pandemic last year, it remains a market with strong long-term potential, experts said.

They noted that over the next five to ten years, the country will be a leader in Southeast Asia in terms of the expansion of the middle class, which is expected to grow by around 9.2% each year. —VNS