Vietnam’s Mobile World plans 300 grocery stores
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Vietnam’s Mobile World – the electronics retailer – says it plans to open 300 more grocery stores under the Bach Hoa Xanh banner this year.
The convenience store chain targets time-poor Vietnamese housewives who prefer small stores to crowded supermarkets or hypermarkets.
With 50 stores in Ho Chi Minh City’s Binh Tan district alone, Bach Hoa Xanh stores each achieve more than VND1 billion (US$44,300) in monthly sales, prompting the rapid expansion strategy.
Nguyen Duc Tai, chairman of Mobile World, expects Bach Hoa Xanh stores to replace wet markets and become the leading player of this grocery sector, a market worth an estimated $60 billion annually.
Mobile World Is Vietnam’s third-largest retailer, behind only supermarket Coop Mart and hypermarket chain Big C.
Questions & Answers
Q.What is Mobile World's expansion plan for its grocery chain this year?
What is Mobile World's expansion plan for its grocery chain this year?
Mobile World intends to open 300 additional grocery stores this year under its Bach Hoa Xanh banner. This rapid expansion follows the strong monthly sales performance of existing stores.
Q.Who is the target customer for Bach Hoa Xanh stores?
Who is the target customer for Bach Hoa Xanh stores?
Bach Hoa Xanh stores target time-poor Vietnamese housewives. These customers reportedly prefer smaller, more convenient retail outlets over larger, often crowded supermarkets or hypermarkets.
Q.What are the typical monthly sales figures for a Bach Hoa Xanh store?
What are the typical monthly sales figures for a Bach Hoa Xanh store?
Each Bach Hoa Xanh store currently achieves more than VND1 billion in monthly sales, which is equivalent to approximately US$44,300. This strong performance underpins the planned expansion.
Q.What is Mobile World's ambition for Bach Hoa Xanh within the grocery market?
What is Mobile World's ambition for Bach Hoa Xanh within the grocery market?
Mobile World's chairman, Nguyen Duc Tai, expects Bach Hoa Xanh to replace traditional wet markets. He aims for the chain to become the leading player in Vietnam's grocery sector, estimated to be worth $60 billion annually.