Leading convenience store brands Vietnam 2022, by number of outlets

According to a report published by Q&Me, as of April 2022, Vinmart+ was the leading convenience store chain in Vietnam with over 2.6 thousand stores, followed by Bach Hoa Xanh with 2.1 thousand outlets. Established by Vingroup, the largest conglomerate in Vietnam in 2014, Vinmart+ has been. under the management of Masan Group since 2020.

Traditional versus modern grocery retailers in Vietnam

Modern retailers have become more important in the overall retail landscape of Vietnam. In recent years, the number of modern retail channels, such as supermarkets and convenience stores, has been increasing. In urban areas, many consumers showed a preference for these retailers over traditional ones. On the other hand, traditional grocers continue to dominate the total grocery retail sales in Vietnam. For a lot of Vietnamese, traditional channels such as local markets and mom-and-pop stores are convenient and affordable for smaller quantity purchases. Meanwhile, modern trade outlets are perceived to be more expensive.

Impact of COVID-19 on grocery retail in Vietnam

Vietnam has imposed several lockdowns since its first COVID-19 infection in early 2020. During the pandemic, Vietnamese consumers have visited physical stores less frequently and often opted for shopping at modern retailers because of these channels’ perceived safety and hygiene. As they went shopping less, consumers stocked more dry food and ready-made food items during this time. In addition, the willingness to buy necessities and fresh products online has gone up among Vietnamese. Online grocery shopping was predicted to be a long-lasting habit even after the pandemic.