1,000 won shop in Korea, ' Fashion convenience store ' in Vietnam

■ More than 100 new doors opened in Vietnam a year
● Vietnamese consumers, demand for more professional and convenient modern retail distribution channels
– According to the Vietnam Statistical Office (GSO), the local retail distribution market will expand from $ 70 billion in 2010 to $ 158 billion in 2017. The average retail market in Vietnam will grow between 2016 and 2020.
– It is inevitable that the distribution channels will grow as the market grows, especially the retail distribution channels are being modernized at a rapid pace.
– In fact, market research firm Nielsen Vietnam reported that the number of modern retail channels in Vietnam increased 61 percent year-on-year in 2016.
● The concept of general merchandise stores in Vietnam is divided into . Korea or Japan ilbon.
– The leading household goods stores in Vietnam are HachI HachI and Daiso in Japan (see table below), which have since invested in Japan and China between 2015 and 2016.
– The largest number of stores in the country in a short period of time has been Minisos in Vietnam, and 30 Chinese grocery stores have also acquired the largest number of stores in Vietnam.
- In the general merchandise field, there is no local brand that can be seen as a positive brand in Vietnam. In contrast, brands that use the national image of Korea and Japan are better positioned in Vietnam market.
– For your information, when HazzI and Daiso first appeared in Vietnam in 2007, Vietnam sold stationery items at a regular price range of 5,000 to 10,000 buildings (approximately 300 to 600 won per exchange rate).
■ The choice of local consumers is higher than that of local consumers
Miniso
● Draw attention to Vietnamese consumers with various products instead of Miniso and Yongil prices
– Miniso has secured six times the number of stores in Vietnam in just one year, compared to the fact that Daiso dominated the market 10 years ago.
– The main difference between Daiso and Miniso from KOTRA Ho Chi Minh Department is that the city has met the needs of local consumers with diversity instead of fair prices.
– Hanoi and Ho Chi Minh City have five cities in Vietnam.
The GDP per capita among direct cost and 58 provinces is between 1.5 and 2 times higher than the global average ($ 2,480) (International Monetary Fund :
– Against this backdrop, Vietnam is a country with relatively high price elasticity of the consumer goods market.
However, in Vietnam, the market share of the U.S. Nissau is higher than that of Daiso, which has a fixed price policy of 40,000 buildings (2,000 won).
- KOTRA Ho Chi Minh branch visited the Vintan and Miniso stores in Ho Chi Minh City in early February and visited Vintan County in the first place of the tour.
- Interviewers of the interview said that they felt that the product price would be reasonable under the reputation of the product, which is related to Japan and Korea.
■ Reference report : KOTRA-Korea Kwangking Branch Office, , MINISO (click to move the page) silsu

February 2018, Part of a local store visit interview
● For your information, KOMONOA, Japan also maintains a policy of 40,000 buildings, which is specialized in store price strategies, kitchen and home appliances.
– Comonoya Vietnam's local franchise agency is Central Group (Thailand), which owns Big C, Nguyen Kim, and Robins in its stores through mergers and acquisitions.
– It is analyzed that one of the factors Comonoyah was able to locate in Vietnam's major modern retail channels was the strong distribution network of local agencies.

■ 1,000 Korean won shop in Vietnam
' Fashion convenience store '
● Loss reader of local household goods stores shows cosmetics and fashion products
- Livestock stores like Daiso and Miniso are new distribution channels in Vietnam. There are no local words. l
According to local media, a fashion convenience store is a fashion convenience store with a relatively small retail channel and convenient store with fashion accessories. a
– Currently, one of the most popular items sold at the store is fashion general items such as hats, bags, sunglasses, etc. The main target audience is student and youth products in their teens and twenties.
- For your information, Miniso Vietnam is a local top idol, Sun Tung, at the end of 2017. ng
You have signed a brand ambassador agreement with the M-TPS, considering that Sun Tung has a large number of female fans in his teens to 20s, and that the local media often has some of the key issues in his fashion.

● Consistently try to change things by utilizing character design
- One thing that the aforementioned general merchandise brands have changed significantly from a year or two ago when they first entered Vietnam is the higher percentage of shelves in design products using characters.
– For example, the Miniso has recently filled its display with merchandise using animated characters, and the Nokso has a section of the product dedicated to its character, such as MUMUSO Family, in a single store.

● Large sizes of baby goods and toys
– Another change in the rapidly expanding stores of household goods stores in Vietnam is the larger display area of children's goods than before.
– Their common products were clay, game equipment, coloring study, car models, baby bibs and cushions.

■ Implications
● The most popular factors of Vietnam's modern distribution channel are confidence in various product Δ quality control, price policy of a certain range, accessibility (convenience), etc.
– Based on Ho Chi Minh City, the average price of a bowl of rice noodles that local citizens enjoy in their daily lives is around 50,000 won (2,500 won), and the average annual income is about 5,500 dollars.
– Nevertheless, the main reason why the number of specialty stores in the household goods industry has increased more than 10 times in just one or two years is because they have established trust in product quality management to local consumers.
– What's more, a wide range of design products from these brands are highly popular with local consumers, as evidenced by increased consumer demand for the Wants.

● Korea is a valuable marketing keyword in Vietnam consumer goods market
– The local brands of household goods stores with five or more stores use the national image of Korea or Japan.
– Especially brands of other household goods stores except Diso and Komonoya are classified as ' fashion convenience stores ' in local language. In fact, some of their major cosmetics items are Sunglasuwa, etc.
- On the other hand, one of the most recognizable Korean consumer goods in Vietnam is Korean fashion goods and cosmetics brands.
■ Vietnam Intellectual Property Rights : KOTRA (Overseas Intellectual Property Center) is installed to support trademark registration and property rights of Korean companies operating in Vietnam [Person : Yang Mi-young].
[Data source : Vietnam National Statistical Office

■ Vietnam Intellectual Property Rights : KOTRA (Overseas Intellectual Property Center) is installed to support trademark registration and property rights of Korean companies operating in Vietnam [Person : Yang Mi-young].
[Data source : General data on Vietnam National Statistical Office, website of each company, local media and Ho Chi Minh branch of KOTRA]