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|Defining the new business concept for retail and franchise at Shop & Store 2018|
Vietnam is considered a fertile land to develop the retail market, Kantar Worldpanel’s study has revealed incredible growth in Vietnam, with the market share of mini-stores growing by 32 per cent from 2015 to 2016, while online shopping grew by a remarkable 61 per cent.
At the same time, Vietnam ranked 9th among the top 12 markets identified by the members of the International Franchise Association as the markets most valuable for international expansion. Additionally, Vietnam was profiled in the Top Markets Report.
Suttisak Wilanan, deputy managing director of Reed Tradex, pointed out that Vietnam has all the necessary elements to rise, such as a large consumer base, rapidly rising incomes, and a generation of educated, young, and growing professional population. This offers great prospects for national and international brands to expand on the retail and franchising industry in the next five years.
|Vietnam will continue to be the potential destination for international brands|
Shop & Store Vietnam 2018, organised by Reed Tradex, is taking place at the Saigon Exhibition and Convention Centre (SECC) on March 28-30. With the presentation of 70 brands from 18 countries and regions, and three international group pavilions from Thailand, Singapore, and Japan, Shop & Store Vietnam 2018 provides a unique platform for business development with three comprehensive profiles: retail, franchise, and shop fitting.
Among the exhibitors there are franchise brands like Miniso and Tupperware, as well as master franchises like Redsun ITI introducing King BBQ, Hotpot Story, and Khao Lao; Somy with Blackball; Vy Ha with Chabayom; and Global Notes presenting SIC, Renmi, and Nishio, among others.
Beside large players who provide retail solutions like Happy Move, Senior Soft, Can Innovation, Paneles, and Suzhou Hongyua, Shop & Store Vietnam also introduces new technologies to apply in retail business, such as retail devices and digital signage solutions from Samsung or Hologram technology presented by Worldline or an e-commerce platform for retail from Haravan.
It is inevitable that more and more Vietnamese businesses are now exploring new business opportunities via franchising. Nevertheless, there are a number of risks that a franchisor should investigate carefully before engaging or expanding in business in Vietnam.
At its first edition, Shop & Store Vietnam focuses on developing content that helps entrepreneurs prepare to the most effective business strategy in Vietnam, as well as reach out to the world with the “Retail & Franchise Conference in Vietnam” in corporation with Retail & Franchise Asia, and “Legal Aspects in Franchising” in corporation with VF Franchise Consulting.
|“Cashless Showcase” activity, “Smart Shopping Competition,” and Hologram 3D demonstration are the highlights fo the three-day event|
|Retailers also have the opportunity to experience new digital technology trends|