Vietnam: Vingroup launches a new service

Soo-Eng Tan
Senior Retail Analyst

Date : 01 October 2020

Vinshop, developed by Vingroup, is a new platform that connects traditional shop owners with supplier partners.

A wholesale online model

Vingroup has sold Vincommerce retail, which operates a chain of supermarkets and convenience stores, to Masan at the end of last year. It also closed Adayroi, its ecommerce website selling to consumers. With VinShop, traditional grocery store owners can buy goods at wholesale prices directly from suppliers. They can pay via VinID Pay, an e-wallet developed by Vingroup.

Traditional trade is evolving in Vietnam

Traditional retailers are beginning to compete with modern retailer to understand shoppers’ needs. They accept cashless payments, pay attention to product display and connect shopper feedback to suppliers. Apart from selling essential products like rice and oil, they also provide dairy products, biscuits and sweet for large manufacturers. Sales management tools like Sapo X and KiotViet can help traditional retailers manage sales, update selling prices and confirm orders with ease. About 90% of grocery still trades through traditional trade in Vietnam and it will continue to have a key role to play in the market for a long time.