Vietnam: Masan adds cafes and banks to WinMart stores
One of the country’s top retailers aims to become a one-stop shop for customers by modifying more than 1,000 locations in 2022.
The Masan Group is adding cafes and banks to most of its WinMart convenience stores during this year. In an effort to become a one-stop shop for customers amidst such a cautious context as the Covid pandemic, the company will modify more than 1,000 locations as part of its expansion strategy.
The Vietnamese retailer will amp up its offers in the WinMart Plus minimart chain throughout the year, as stated by the Nikkei Asia news site. The new products aim to attract Covid-cautious customers to the stores so that they can grab anything they are looking for without the need to go somewhere else.
In addition, the chain’s expansion plan includes 700 to 1,000 new openings, bringing its total number of locations up to 3,600. Its first example is a WinMart in Hanoi that has already been upgraded to include a Phuc Long coffee counter and a Techcombank corner, with an ATM included as well as an associate who is in charge of issuing new cash cards and credit cards.
According to the media outlet cited, Masan was established in 2004 to focus on food as its mainline business. The group became one of the top players of the sector after taking over approximately 3,000 VinMart supermarkets and VinMart Plus stores from Vingroup, rebranding them to WinMart.
Regarding its new coffee and banking offerings for customers, the company took a 20% stake in Phuc Long’s operating company back in May while owning roughly one-fifth of Techcombank. The group is aiming to combine its assets and services into one convenient spot for customers.
