Expanded modern retail chains fuel presence of Vietnamese goods
Local economists believe that the surge in modern retail locations will stimulate domestic consumption and enhance market access for Vietnamese products.
THE HANOI TIMES — With retail giants like WinCommerce, Mobile World Investment Corporation (MWG), and Saigon Co.op accelerating their push into rural areas, the rapid expansion of modern convenience stores is poised to strengthen the presence of Vietnamese products across the domestic market.
Major retailers, previously focused on urban centers, race to open convenience shops in the countryside, allowing their locally produced goods to become more present in daily consumer life.
Retailers ramp up investment in convenience stores
Shoppers browse products at the newly opened WinMart convenience store in Chuong My District. Photos: Hoai Nam/The Hanoi Times
According to the Ministry of Industry and Trade, modern retail channels, including supermarkets and shopping malls, currently account for only 22.2% of total retail sales. Nearly 78% of sales still flow through traditional markets, convenience stores, mom-and-pop shops, and local retail agents.
To tap into this substantial market segment, major Vietnamese retailers such as Co.op Mart, Satra Foods, and VinMart+ are intensifying their investments.
WinCommerce, the operator of the WinMart/WinMart+ retail chain, has set a target of having 4,500 WinMart+ outlets nationwide by the end of this year, including 42% in rural areas, which the company calls "untapped potential." Since the beginning of 2025, WinCommerce has launched 184 new WinMart+ stores.
Nguyen Thi Phuong, General Director of WinCommerce, outlined a strategy to open at least one WinMart supermarket in each district. Each commune or ward will have a minimart, and every village or residential area will have a WinMart+ outlet.
"Our ultimate goal is to establish a network of 10,000 WinMart-branded stores nationwide to address long-term shopping needs and everyday convenience purchases," she said.
MWG has been operating its nationwide Bach Hoa Xanh grocery and convenience store chain since 2015 and is pursuing aggressive growth. In the first quarter of 2025, the company opened 94 new stores, totaling 1,849 nationwide.
According to Chief Financial Officer Vu Dang Linh, convenience stores contribute over 30% of the company's revenue and are a key driver of growth. The company expects to generate VND48 trillion (US$1.85 billion) in revenue from its retail chain by 2025. They plan to open an additional 200 to 400 stores nationwide, 70% of which will be located in central provinces, and the rest in existing operational areas.
Similarly, Saigon Co.op has opened nearly 800 Co.op Food stores throughout Vietnam as part of its ongoing retail expansion strategy.
A boost for Vietnamese-made goods
A consumer purchases essential goods at a WinMart convenience store.
Local economists believe that the surge in modern retail locations will stimulate domestic consumption and improve market access for Vietnamese products.
Tran Thi Phuong Lan, Vice President of the Vietnam Retailers Association, said that each mini mart serves as a direct channel between local producers and consumers, enabling producers to better understand customer demand and improve product quality.
Lan noted that Vietnamese retailers usually stock their shelves with locally made goods, which allows domestic businesses to scale up and boost sales.
Sharing this view, Nguyen Kieu Oanh, Deputy Director of the Hanoi Department of Industry and Trade, said superettes are vital distribution channels for Vietnamese products. The department will continue to support retailers in developing modern retail infrastructure, including supermarkets and convenience stores.
Economists also noted that an increase in the number of convenience stores will stimulate domestic consumption.
According to the General Statistics Office (GSO) of the Ministry of Finance, Vietnam’s total retail sales of goods and consumer services reached nearly VND6.4 quadrillion (US$246.7 billion) in 2024, with goods accounting for VND4.9 quadrillion ($188.8 billion). From January to April of 2025, retail and service sales rose 9.9% year-on-year to VND2.3 quadrillion (US$88.3 billion).
According to GSO Director Nguyen Thi Huong, the service sector will remain a key driver of economic growth in 2025. The domestic retail market offers substantial room for comprehensive development, fueled by rising average incomes, a rapidly growing middle class, and Vietnam’s relatively high consumption-to-GDP ratio compared to other countries in Southeast Asia.
