Modern Trade

chains evolution
report
Prepared by Retailer Vertical Vietnam
Data period: April 2023

© 2023 Nielsen Consumer LLC. All Rights Reserved.

Executive summary

Channel landscape: Retail in the News:

■ MT Expansion rate witnessed a minor increased with
10,079 stores by the end of April 2023.
■ Compared with same period last year, Total Vietnam
Modern Trade Chains has expanded by 3% (opened
534 new stores), driven by M&B and CVS banner with
expansion rate 14% and 11% respectively.
■ Minimarts and CVS are the only formats recording
expansion in Apr’23.
■ Retail sales increased 11.5% against previous year.
■ Vietnamese Purchasing Managers' Index down in April:
S&P Global.
■ April’s consumer price index down.
■ Vincom Retail profits nearly triple in Q1.
■ Retail businesses improve quality to gain competitive
advantage.
■ Retail chain GS25 posts $7M loss last year.

2
© 2023 Nielsen Consumer LLC. All Rights Reserved.
Channel
landscape

3
© 2023 Nielsen Consumer LLC. All Rights Reserved.
Banner overview
Minimarts and CVS are the only formats recording expansion in Apr’23

Evolution of Modern Trade by panels Expansion rate

Last 13 months Apr-23 vs YA | %

10,018 10,131 10,060 10,076 10,079

9,854 9,934 9,918
9,740 9,745 9,749 9,709 9,761

1,194 1,193 1,164 1,186 1,166 Mom & Baby

1,024 1,074 1,089 1,095 1,157 1,167 1,180 14%
1,134

1,321 1,297 1,304 1,302

1,309 1,421 1,473 1,481 1,433 1,419 1,379 1,380 H&B + Drugstore -1%
1,429

999 1,086 1,107 1,089 1,095 1,108

1,003 1,057 1,069 CVS 11%
1,005 1,010 1,020 1,043

Minimart 1%

Supermarket 5%

5,913 5,860 5,678 5,781 5,779 5,841 5,992 5,991 5,972 5,986
5,661 5,614 5,618
Cash & Carry 0%

Total MT Chain 3%

475 476 480 482 492 490 490 491 497 498 499 499 497

Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23

Source: Retailers’ official website. Cash and Carry has 20 stores yet wasn’t displayed due to small scale. Store numbers from Nov’22 would change slightly due to store counts review.
4
© 2023 Nielsen Consumer LLC. All Rights Reserved.
 Banner overview
Super/Hypermarket 9 Chg vs. YA Convenience store 109 Chg vs. YA Health & beauty -52 Chg vs. YA

Circle K 422 +39 Pharmacity 936 -111

WinMart 132 +8
Guardian 109 +11
GS25 209 +48
Co.op Mart 123 -1 Medicare 81 -4
Family Mart 146 +1 Hasaki 101 +50
Big C/ GO/ Tops Market 48 +3
AB Beauty 15 -
MINISTOP 147 +26
Sakuko 35 -1 Beauty Box 14 +2
B's Mart 78 -3 Sociolla 12 +2
BRG Mart 24 -1 -2
7-Eleven 87 Aeon Wellness 7
+21
Lan Chi Mart 24 - Nuty Cosmetic 9 +1
Cheers 19 -19 Watson 7 -1
Lotte Mart 15 +1

An Nam Gourmet 12 - Minimart & Foodstore 73 Chg vs. YA Mom & baby 142 Chg vs. YA

Aeon Citimart 10 -1
WinMart+ 3,323 +615 Concung.com 698 +111
AEON MaxValu 16 +7 Bach Hoa Xanh 1,709 -438
Bibomart 154 -9
Co.op Food 362 -104
AEON 7 +1 Kids Plaza 150 -4
SatraFoods 183 -4
TutiCare 62 +16
Other chains Coop Smile 94 -23
Shoptretho 22 -13
T-Mart 99 +26
Miền Tây Mart 11 Finelife SM 2 AvaKids 64 +43
K Market 60 +1
Vissan Mẹ và bé Cần Thơ 13 -
Muong Thanh Mart 8 SatraMart 3 48 -6
Haprofood/BRG Mart 31 Socs and Brothers 3 -2
-15
Thanh Do Mart 6 Nova Supermarket 4
Other chains
Sunshine Mart 5 J-Mart 1
CP Fresh mart 10 Aeon Citimart B&B 5
Cash and Carry 0
Co.op Xtra 5 MM Supermarket 1
Nova Market 18 Nam An Market 5
MM Mega Market 20
FujiMart 3 Emart 2 Kingfoodmart 27 Finelife foodstore 2

Postmart 10
Source: Retailers’ official website, data ending Apr-23. | * Change in store number may not be available for newly added chains 5
© 2023 Nielsen Consumer LLC. All Rights Reserved.
Supermarket/ Hypermarket
In April, An Nam reduced 3 stores while WinMart added one more.

Evolution of store number of major chains by months

+/- store number in latest month Last 13 months

Total SM/HM -2 stores

WinMart +1 An Nam Gourmet -3 132

130 131 131 131
128 128 128 128
Co.opmart - AEON - Co.opmart 124 124 124 127

- Sunshine Mart -
126
GO! / Tops Market WinMart 124 124 124 124
124 123 123 123 123 123 123
122
Sakuko - Co.op Xtra -
GO! / Tops Market
Lan Chi Mart - FujiMart -
48 48 48 48 48
Lan Chi Mart 45 45 45 45 46 46 46 46
BRG Mart - AEON MaxValu -

Aeon Citimart
Lotte Mart - SatraMart -
26 26 26 25
24 24 24 24 25 25 24 24 24
24
Aeon Citimart - Emart - BRG Mart 26
25 25 24 24 24
24 24 24 24 24 24
Miền Tây Mart - Nova Supermarket - Lotte Mart
10 10 10 10
Muong Thanh Mart - Finelife SM - 11
AEON 11 11 11 11 10 10 10 10
Thanh Do Mart - MM Supermarket - 6 7 7 7 7 7 7 7 7 7 7 7 7

Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23

Source: Retailers’ official website, data ending Apr-23

WinMart store number is sourced from Masan Full Year Report. From Nov’22 Coop Mart Store number is revised to be at 123 stores.
6
© 2023 Nielsen Consumer LLC. All Rights Reserved.
Minimart & Foodstore
Visible growth from WinMart+ while CoopFood witnessed the opposite trend.

Evolution of store number of major chains by months

+/- store number in latest month Last 13 months

Total Minimart & 3,268 3,268 3,268 3,323

+14 stores 990
Foodstore 3,111
3,049 3,049
WinMart+ +55 Vissan - 2,873 2,873 2,873
2,708 2,708 2,708
Bach Hoa Xanh -1 T-Mart - 790
WinMart+
Co.op Food -32 CP Fresh mart -
2,147 2,157
Aeon Citimart Bach Hoa
SatraFoods -6 - Xanh 1,956
B&B 590
1,776 1,725 1,728 1,730 1,728 1,728 1,727 1,729
Co.op Food 1,710 1,709
Co.op Smile -3 Nam An Market -

K Market - Finelife foodstore -

SatraFoods 465
390
Haprofood/ BRG Mart - Kingfood +1 395 403 394 394 394 394 394 394 394 394 394
Coop Smile 362
Postmart - Nova Market -
187 184 185 185 185 182 182 185 189 189 189 189 183
K Market 190
117 110 110 110 110 110 103 103 103 103 98 97 94
59
59 59 59 60 60 60 60 60 60 60 60
Haprofood/ 60
BRG Mart
46 46 47 47 47 47 43 43 38 32 32 31 31 -10

Source: Retailers’ official website, data ending Apr-23

Winmart+ store number is sourced from MSN FY2021 Earnings Release Report. Coop Food & T-Mart has some adjustment based on new trusted sources in May’22.
7
© 2023 Nielsen Consumer LLC. All Rights Reserved.
Convenience store
Ministop and 7-Eleven contributed to store number growth in April.

Evolution of store number of major chains by months

+/- store number in latest month Last 13 months

Total CVS +13 stores

413 421 422 422 423 422
406
386 384 388 390 394
Circle K -1 GS25 - 383

189 209
Family Mart - 7-Eleven +3
Circle K
189
MINISTOP +11 Cheers -
GS25 161
B's Mart -
146 146 146 146

Family Mart 145 146 146 147

132 136
121 125

MINISTOP

87
80
B's Mart
81 78
78
7-Eleven 68 68 71
66 66 67

Source: Retailers’ official website, data ending Apr-23

8
© 2023 Nielsen Consumer LLC. All Rights Reserved.
Health & beauty and Drugstore
Hasaki store growth continued with 4 new stores. Medicare decreased 5 stores.

Evolution of store number of major chains by months

+/- store number in latest month Last 13 months

Total H&B -2 stores 1,141 1,147 1,148 1,092 1,092 1,073

1,047 1,024 1,019
959 936 936 936
Guardian - Hasaki +4

Medicare -5 Aeon Wellness -1 Pharmacity

Watson - Nuty -
Guardian 106 110 110 110 109 109 109
Matsumoto Kiyoshi - Pharmacity - 98
85 92 97
Medicare 101
Sociolla - Thegioiskinfood -
86 89 89 84 86
85 80 81
Beauty Box - AB Beauty - Hasaki 72 76
64 67
51 56
Aeon Wellness 18
15 15 15 15 15
Watson 15
15 14
12 13 13 13 13 15 13 13
12 12 12
Beauty Box

AB Beauty 7
8 7

Sociolla

Source: Retailers’ official website, data ending Apr-23. From Jun’22, Thegioiskinfood, Beauty Box, AB Beauty, & Sociolla are added into Health & Beauty panel respectively to better reflect the market. Monthly backdata is adjusted.
9
© 2021 Nielsen Consumer LLC. All Rights Reserved.
Mom & baby
Mom&Baby Channel witnessed a reduction in April

Evolution of store number of major chains by months

+/- store number in latest month Last 13 months

Total M&B -20 stores

658 682 696 706 707 680 707 698
628 625 640
587 603
Concung.com -9 TutiCare -

Bibomart -2 Me va Be Can Tho -

Concung.com
Kids Plaza -9 Socs and Brothers -

Bibomart 163 164 164 163 164 160 160 161 161 161 160 156 154
Shoptretho - AvaKids -

Kids Plaza 154 155 156 155 156 156 156 157 161 161 160 159 150

Shoptretho 85 84
70
TutiCare 64 64 62 63 64
64 64
50 53
AvaKids 46 62 62 62 62 62 62
50 50 59 59
35 49
50
21 22 22
21 35 20 22
20 22
22 22 22
22

Source: Retailers’ official website, data ending Apr-23. From Nov’22, Avakids store numbers are revised and updated.
10
© 2023 Nielsen Consumer LLC. All Rights Reserved.
 Retail in the
News

11
© 2023 Nielsen Consumer LLC. All Rights Reserved.
Retail macro landscape in Apr’23

Retail sales increased 11.5% against previous year.

The total retail sales of consumer goods and services in April 2023 were estimated at 510.7 trillion VND
increased by 3.7% compared to the previous month and increased by 11.5% over the same period last year.

In the first 4 months of 2023, the total retail sales of consumer goods and services increased by 12.8% over
the same period last year, in which revenue from accommodation and catering services increased by 25.8%
and traveling services increased by 109.4%.

Vietnamese Purchasing Managers' Index down in April: S&P Global

A recently released survey by S&P Global indicates that the Vietnam Manufacturing Purchasing Managers'
Index (PMI) fell to 46.7 in April from 47.7 recorded in March. This is the fifth deterioration in business
conditions over the past six months, marking the sharpest decline in the year-to-date as demand remains
subdued.

The S&P Global shows that manufacturing production decreased at a solid pace for the second month
running, as companies reported that securing new orders had been challenging during the month amid
demand weakness. Firms also continued to lower their staffing levels, both through the non-replacement
of leavers and job cuts in response to the drop in workload.

Source: GSO, vietnamnet.vn 12

© 2023 Nielsen Consumer LLC. All Rights Reserved.
 Retail news
April’s consumer price index down
The consumer price index (CPI) in April decreased by 0.34% month-on-
month, but increased by 2.81% year-on-year, according to the General
Statistics Office (GSO).
In the first four months of this year, the index rose by 3.84% y-o-y, mainly due
to increases in prices of education, housing and construction materials,
culture, entertainment and tourism, food, and electricity. In April, seven out of
the 11 groups of main consumer goods and services witnessed price
decreases, and the remainders saw rises.
Source: retailnews.asia
© 2023 Nielsen Consumer LLC. All Rights Reserved.
Vincom Retail profits nearly triple in Q1
Mall operator Vincom Retail has reported after-tax profits of VND1.02 trillion
(US$43.4 million) for the first quarter, a 2.7-fold rise year-on-year, amid a
recovery in consumption.
It was 23% up quarter-on-quarter, the company’s consolidated financial
statements showed. Vincom Retail reported revenues of VND1.94 trillion in
the first quarter, an increase of 42%, with its mall business accounting for
VND1.9 trillion.
The company targets profits of VND4.68 trillion on revenues of VND10.35
trillion for this year, up 69% and 41% from 2022.
Source: retailnews.asia
13
Retail news
Retail businesses improve quality to gain Retail chain GS25 posts $7M loss last year
competitive advantage
CVS Holdings, the operator of GS25 Vietnam retail chain, reported a loss of
The presence of foreign-invested enterprises in Vietnam's retail sector has
over VND167 billion (US$7.12 million) for 2022, 9% higher than the previous
increased the competitive pressure, which makes domestic enterprises have
year. It had over VND400 billion in debts, including a bond issuance worth
more experience and motivation to improve their business capacity, product
VND106 billion.
quality, service quality, and ability to capture the market.

GS25 is a South Korean brand that launched in Vietnam as a franchise in

Vietnam is a high potential retail market with a size likely to grow to 350
2019 with a target of 300 convenience stores by 2022 and 1,000 by 2029.
billion USD by 2025. Retail trade will contribute 59% of the total domestic
product sales.

Source: insideretail.asia Source: vnexpress.net

14
© 2023 Nielsen Consumer LLC. All Rights Reserved.
Data collection methodology

Conducted period
April 1st – April 30th, 2023

Scope
Only cover major MT chains nationwide

Image placeholder
Sources
Retailer’s website, Official Facebook page, Web scrapping, Desk research

Notes
From June 1st,2022. Thegioiskinfood, Beauty Box, AB Beauty, & Sociolla are
added into Health & Beauty panel to better reflect the market.
From August 1st, 2022. Nova Market/Supermarket would be added.

15
15
© 2023 Nielsen Consumer LLC. All Rights Reserved.
Thank you.

Vietnam Market Report & Marketing Research by CTO Vietnam Network

16
© 2023 Nielsen Consumer LLC. All Rights Reserved.