The frequency of Vietnamese consumers doing the shopping at convenience stores and minimarts is increasing while the number of times they go to traditional markets is decreasing rapidly, according to a report.
The newest report studying global shopping trends was released by market researcher Nielsen on November 8.
According to the report, Vietnamese shoppers go to convenience stores 4.5 times per month, while the figure was only 1.24 times in 2010, making it the fastest-growing shopping channel in the country in eight years.
In addition, the number of convenience stores has nearly quadrupled in Vietnam since 2012.
This modern retail channel is witnessing fierce competition between big players, who have been present in the market for long, such as VinMart+, Circle K, Shop & Go, Ministop, B’s Mart, and Family Mart, and foreign retail giants, who have just arrived in Vietnam in the past 18 months, namely 7-Eleven and GS 25.
In the approximately impressive growing rate, mini supermarkets have attracted consumers with a shopping frequency of 2.2 times per capita per month in 2018, compared to the zero number in 2010.
Nielsen’s data showed that the rate of opening mini supermarkets in Vietnam ranked first among all traditional and modern retail channels in the first nine months of this year.
Besides that, Vietnamese consumers often do the shopping at other retail channels, including specialized concept stores and pharmacy stores at 1.22 times per month in 2018, compared to 0.76 times in 2010, and grocery stores at 9.47 times per month, compared to 8.81 times eight years ago.
Meanwhile, Vietnamese people are gradually turning away from traditional markets when shopping here only 18.86 times per month, down from 25.17 times in 2010, according to the report.
Supermarkets are chosen less often by Vietnamese consumers as the frequency of shopping lowered from 3.26 times per month in 2010 to 2.45 times at present.
Explaining why Vietnamese consumers are gradually preferring convenience stores and mini supermarkets to traditional markets, Gaurang Kotak, head of consumer behavior research at Nielsen Vietnam, said that residents in larger cities have less and less time to cope with traffic jams, workplace and home distances and the need to select the most convenient shopping locations.