To diversify the retail business ecosystem in Vietnam, AEON Vietnam – the subsidiary in charge of the general retail business of AEON Group (Japan), continues to expand investment in small and medium-sized supermarket chains called AEON MaxValu. Each AEON MaxValu supermarket has an area of 300-500 sqm, sells a wide range of items, and is located in residential areas.
The AEON Group’s AEON MaxValu supermarket brand is well-known in several Asian nations, including Japan, Thailand, Malaysia, and China. In Vietnam, there are four AEON Maxvalu supermarkets as of December 2021. The company aims to open up to 100 stores in Vietnam by 2025. This is the AEON Group’s medium and long-term growth strategy, having identified Vietnam as its second key market after Japan.
According to Mr. Furusawa Yasuyuki – General Director of AEON Vietnam, the Covid-19 outbreak has had a substantial influence on consumer purchasing behavior, which gave an advantage to modern retail chains to compete against traditional wet markets. It is also reported that Vietnam’s processed food market has the fastest growth rate among the six leading economies in ASEAN. Healthy foods are one of the most notable areas of demand, one study shows.
(Sources: Nikkei Asia; Vietnam Economics Review)