Lotte Mart’s ‘Be Goods by Busan’ in Vietnam
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Lotte Mart Vietnam will promote products from South Korean SMEs in its Go Vap outlet in Ho Chi Minh City.
The retailer will add a special sales zone called Be Goods by Busan, to sell 70 products from 13 companies based in Busan.
Lotte has selected products including fruit and vegetable drinks, frying pans and shampoos, items it believes will appeal to local Vietnamese consumers. More items are to follow.
The retailer is also planning to provide online and offline marketing support for the products.
This is the second time Lotte Mart has opened a Be Goods store.
Last October, Lotte Mart Nguyen Van Linh hosted 196 products of 23 Korean SMEs, and earned 240 million won (US$215,827) in sales over seven months.
Vietnam is Korea’s third largest export market and Lotte Mart believes it is the best place for Korean SMEs to test and export their products.
Last month, another Korean retailer E-Mart also promoted Korean SME’s products in Singapore.
Questions & Answers
Q.Which specific location will host the new 'Be Goods by Busan' sales zone?
Which specific location will host the new 'Be Goods by Busan' sales zone?
Lotte Mart Vietnam's Go Vap outlet in Ho Chi Minh City will feature the new sales zone. This initiative aims to promote products from South Korean small and medium-sized enterprises (SMEs).
Q.How many products and companies will be initially featured in the 'Be Goods by Busan' zone?
How many products and companies will be initially featured in the 'Be Goods by Busan' zone?
Initially, the 'Be Goods by Busan' zone will sell 70 products from 13 companies. These companies are all based in Busan, South Korea, offering items like drinks, frying pans, and shampoos.
Q.What was the sales performance of the previous 'Be Goods' store mentioned in the article?
What was the sales performance of the previous 'Be Goods' store mentioned in the article?
The previous 'Be Goods' store, hosted by Lotte Mart Nguyen Van Linh, earned 240 million won (US$215,827) in sales over seven months. It featured 196 products from 23 Korean SMEs.
Q.Why does Lotte Mart consider Vietnam a suitable market for Korean SMEs?
Why does Lotte Mart consider Vietnam a suitable market for Korean SMEs?
Lotte Mart believes Vietnam is the best place for Korean SMEs to test and export their products because it is Korea's third-largest export market. This makes it an attractive location for market entry.
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