GS25 celebrates 100th store milestone in Mongolia
The retailer has expanded its footprint across the nation after operating in the market for only 16 months.
Last week, the GS Group celebrated the opening of its 100th GS25 store in Mongolia only 16 months after entering the country’s market. The retailer’s milestone is part of its expansion plans to operate over 500 points of sale by 2025 basing its strategy in launching more customised food products.
According to a report by local news site The Korea Times, the company’s entry to the East Asian region began in 2018 with its introduction to Vietnam. This led to a rapid extension that currently translates to operating 186 outlets in the nation, with the firm’s sights set on other potential territories for expansion.
Another Korean retailer, BGF Retail, is currently expanding its presence across the continent and it doubles the number of GS25 stores in Mongolia. CU, BGF’s convenience store chain, celebrated the opening of its 200th store last April in what appears to be a continuous expansion throughout the territory.
The Mongolian market holds promise for retailers thanks to demography statistics. According to a report by the local news agency Yonhap, 60% of the total population is composed of citizens under 35 years of age which represent a wide number of active consumers throughout the whole population.
