Leading multinational retailers such as Central Retail, AEON, and Lotte Mart have announced their plans to expand in Vietnam, as they are optimistic of the country’s economic growth and its consumers’ rising disposable incomes.
Central Retail from neighbouring Thailand is investing Bt 30 billion (US$790 million) to double its outlets in Vietnam to 710 in 2026, including over 70 hypermarkets. It has an ambitious goal of setting up stores in 55 out of 63 Vietnamese localities and achieve sales revenue of Bt 100 billion (US$2.8 billion) in the next 5 years.
Japan’s AEON Group has planned to open about 100 supermarkets in Vietnam by 2025 while South Korea’s Lotte Group is also planning to open more Lotte Mart outlets in Vietnam.
To counteract this aggressive expansion, domestic players like Masan, which is also the country’s leading retailer, also plans to boost its number of stores from 3,000 supermarkets and convenience stores, to 10,000 stores by 2025.
