Saigon Co.op opened three new Co.opmart supermarkets in An Giang, Ho Chi Minh City and Dak Lak in Vietnam, increasing its total number of stores to 126. Each of these stores sell more than 30,000 items, including foods, cosmetics, clothes and household goods, and accessories, 90% of which are Vietnamese products.
According to statistics released by the General Statistics Office (GSO) of Vietnam, retail sales in the country reached VND 4.94 quadrillion (USD 214.8 billion) in 2018, a rise of 11.8% over the previous year. This is fastest growth within the past four years, driven by rising incomes and better-than-expected growth has increased purchasing power. The national average monthly income went up from VND 3.9 million (USD 167) to VND 4.2 million (USD 182). Sales growth was also supported by a diversification of distribution channels, quality products and attractive promotions.
(Source: Vietnam News)