Given a growing number of tourist arrivals in Da Nang with their higher shopping demand, along with its socio-economic development, the retail market has been thriving in the city.

The strong rise of convenience stores and mini-marts brings shopping convenience to consumers

The profitable industry has attracted the great attention of many renowned domestic and foreign retailers. Notable amongst them are multifaceted Vietnamese conglomerate Vingroup with a chain of VinMart + convenience stores and mini-marts, and South Korea’s Lotte Corporation with Lotte marts.

According to the municipal Department of Industry and Trade, with a population of 1.2 million people and an annual growth of about 10% in the number of tourists, the city’s retail market is seeing a relatively sustainable consumption.  

In addition, the success of the city-hosted trade promotion programmes and fairs connecting supply and demand links also play an important role in appealing for domestic and foreign retailers to the city.

Currently, the city is home to a sum of 70 small and large traditional markets, of which 4 meet the commercial civilisation standards, namely Han, Con, Dong Da and Hoa Cuong.

Also, there are 8 existing commercial centre operating effectively, namely Vinh Trung Plaza, Parkson, Co.op Mart, Vincom, Lotte Mart, Big C, Da Nang Square, Nguyen Kim, plus a total of 71 supermarkets of different scales marking their presence throughout the city.

Convenience store and minimarts are the fastest growing segment of the retail market.

It is notable that the VinGroup Group has opened its Vincom Trade Centre in Son Tra District. Only 3 VinMart + convenience stores were opened in the city in June 2015, but this figure has impressively reached 90 to date, and it is expected to climb to 150 by 2020. Each store covers an area of less than 500m², and operates daily from 6.00am until 10.00pm.

VinMart + is the only domestic retail chain that has developed a system of 35 international standard labs for ensuring food safety and hygiene.

Vinmart and Vinmart+ are listed in 2017 Viet Nam Report of the top 10 most domestic prestigious retailers.

In 2016, Vingroup Group coopered with 250 businesses nationwide to jointly deploy a programme for supporting and promoting domestic production.

Under the cooperation agreement, on display for sale at VinMart + convenience stores and VinMart supermarkets are domestically-produced goods in the categories of cosmetics, stationery, toys, household utensils, fresh food, fashion and cotton fabric.

According to Mr Doan Ngoc Minh, the Head of the Trade Management Office of the Department of Industry and Trade, the city’s retail market has developed rapidly over the past 5 years. The city has seen an upward trend in the number of specialised supermarkets which mainly sell some certain kinds of goods such as furniture, specialities, and canned/preserved food.

Mr Nguyen Ha Bac, the Deputy Director of the Department of Industry and Trade, said the city’s retail market will continue to grow strongly in the next few years with the presence of even more large domestic and international retailers.

The prevalence of large domestic retail corporations not only enhances their service quality, the commercial civilisation and consumers’ shopping habits, but this fact also helps to ensure market stability and food safety and hygiene as well.

Also importantly, a growing tendency of opening convenience stores and mini-marts also challenges traditional markets to enhance their civilised trading activities and ensure food safety to raise their competitiveness.