Thailand's Central Retail has announced plans to open up to 12 hypermarkets and more than double its key store count in Vietnam over the next three years, aiming to increase its large-format stores from 38 to over 70 by 2029 [1]. This expansion comes amid intensifying competition from rivals such as AEON, Lotte, and Winmart, all of whom are also increasing their investments and store openings in Vietnam [1]. Central Retail's current stores operate under the GO! and Big C brands, and the new hypermarkets will offer a broad range of products including groceries, electronics, household goods, and fashion, targeting both urban and suburban locations in cities like Hanoi and Ho Chi Minh City [1].
The company views Vietnam as a strategic market for growth in Southeast Asia, citing rapid retail market expansion and strong consumer demand, particularly during peak periods such as Tet, Vietnam's Lunar New Year [1]. Central Retail expects the expansion to significantly boost its sales growth in Vietnam, which is already its second-largest market after Thailand and accounts for a substantial share of its international revenues [1].
Market analysts suggest that the aggressive expansion by Central Retail and its competitors could lead to a shakeup in Vietnam's retail sector, increasing competition and offering consumers more choices [1]. The company's plan to open more than 30 new large-format stores by 2029 highlights its confidence in the Vietnamese market and its strategy to outpace competitors through scale and enhanced customer experience [1].
CONCLUSION
Central Retail's ambitious plan to more than double its large-format store presence in Vietnam by 2029 signals strong confidence in the country's retail market and is expected to intensify competition. The expansion is likely to drive sales growth for Central Retail and reshape Vietnam's retail landscape, offering consumers greater choice and innovation.