The battle for the reign to become Vietnam’s top convenience store chain has begun. The biggest c-store operator in the world, 7-Eleven, is opening its first outlet in Ho Chi Minh City on 15 June after two years since it announced that it will enter the market.
Japanese retailers have increasingly shown interest in Vietnam, being that it has a population of roughly 100 million and a fast growing middle-income group. Personal consumption increase as well as a demand for convenience among urbanised Vietnamese have also enticed many overseas retailers to pin the country as a potential market.
Furthermore, Vietnam has recently returned to the top ten ranking on the Global Retail Development Index by AT Kearney.
Seven & i Holdings, the parent company for all 7-Eleven franchises, has planned to dispatch employees from headquarters into Vietnam to teach the know-how’s and mechanics of the chain.
Like all 7-Eleven worldwide, the new outlet will offer up to 100 ready-made meals for fast-paced workers and over 2,000 products specially stocked for the Vietnamese market.
“We worked closely with Seven System Vietnam and our parent company Seven-Eleven Japan to ensure we are providing the neighbourhood with the products they expect from 7-Eleven across the globe as well as local favourites,” said Ena Williams, senior vice president and head of international, 7-Eleven.
In Southeast Asia, Vietnam is one of the hottest markets for retailers looking to expand. In the c-store segment, it is estimated that the market size will grow in valuation to roughly USD180 billion within the next three years.