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Masan has seen relatively positive results In addition, before resuming store
from its acquisition of the Vinmart and expansion, VinCommerce tested dozens
Vinmart+ store chains. of mini-supermarket stores under various
Modern retail is in the position of a models to find the right store formula.
"profitable fisherman" in the context of The majority of these test stores are in
the Covid-19 epidemic, which has lasted Hanoi, with the remainder in Ho Chi Minh
more than a year. Although many retail City. These test stores, according to
stores were forced to close temporarily Masan, are delivering better results than
due to the government's epidemic VinCommerce's existing stores, with
prevention and control measures, about 10% higher total sales per store
supermarkets and convenience stores and 15% higher fresh produce sales per
remained open during the quarantine store.
period. In order to serve the people, Masan wants to integrate a variety of
these modern distribution systems are services into VinMart stores, including the
also required to increase storage and Phuc Long kiosk, Techcombank financial
sales capacity. When the demand for services, and so on.
dining and entertaining at home rises, as VinMart (in the future WinMart) will
well as the increased need to stock up on deploy financial services provided by
essentials during the quarantine period, Techcombank in at least 50% of its
Covid can be said to have "assisted" stores beginning in 2021. This is the
Masan in becoming one of the market's point that Masan Group's management
beneficiaries. makes when expanding into new services:
Since acquiring VinCommerce from the combination of necessities and
Vingroup at the end of 2020, Masan has financial services can help Masan Group
also carefully prepared business plans for access 50% of the budget for
retail and services. In the first half of consumption. Financial services
2021, specific plans and action plans to associated with retail, particularly online
improve the efficiency of VinMart and and non-cash payments, will be extremely
VinMart+ chains were implemented. fertile ground for Masan as a result of the
Masan continued to close inefficient Covid epidemic.
stores in the first months of the year, as
planned in the fourth quarter of 2020, but
it is expected that the number of stores
will still rise by 300-700 this year (after
deducting). Mini marts have grown in
popularity as a result of the closure of
stores.
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