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Update news 7-Eleven
In contrast to expectations, owners of many foreign convenience stores in Vietnam may not be able to meet their ambitious targets in carving a firm niche in the domestic market, due in part to fierce competition from the biggest players.
VietNamNet Bridge - 7-Eleven, which has been prospering in Thailand, and GS25, which dominates the South Korean market, still have not fulfilled their plans to expand retail networks in Vietnam.
VietNamNet Bridge - More than 10 convenience store brands in the central business district in HCMC are in a competition to secure retail premises in advantageous positions.
VietNamNet Bridge - Brands are trying to fully exploit their advantage to compete with rivals, but most of them are developing a model that is a hybrid between a convenience store and fast food shop.
VietNamNet Bridge - 7-Eleven has announced it will open its first shop in Vietnam on June 15. Aeon, MiniStop and FamilyMart have already joined one of the fastest growing retail markets in the world.
VietNamNet Bridge - The Vietnamese retail market, which is promising and lucrative, has its problems, as many retail giants have gained big success in other markets, but not in Vietnam.
VietNamNet Bridge - While 7-Eleven expands its business in the Vietnamese retail market, Family Mart has decided to stop injecting more money into the chain in Vietnam because of losses.
Vietnamese manufacturers are trying to display their products at foreign-invested supermarket chains, which have become familiar shopping destinations for urbanites. But it has not been an easy task.
Shopping mall developers need to think carefully when trying to carve out a market share in Vietnam.
VietNamNet Bridge - The Vietnamese retail market, though still small, is attracting the world’s giant retailers, including those from Japan.
VietNamNet Bridge - The Vietnamese retail market is bustling with the expansion of existing brands and the appearance of newcomers, including 7-Eleven, the world's largest convenience chain.
VietNamNet Bridge - 7-Eleven’s plan to open its first convenience store in Vietnam by 2017 has not been welcomed by small Vietnamese retailers.