GS Retail operates the convenience store GS25, which reported that the average daily sales of its GS25 store in Hanoi, Vietnam, exceeded 5 million won.
GS25 has risen to become the number one convenience store brand in southern Vietnam, centered around Ho Chi Minh City. It has made a full-scale entry into northern Vietnam, having opened six stores simultaneously in Hanoi on March 14.
The six stores are recording an average daily sales of 5 million won. In the initial opening phase, the stores even surpassed daily sales of 10 million won at times. This is 2.5 times larger than the average daily sales of convenience stores in Korea.
The six stores have seen an average of 1,000 customers each day, totaling 300,000 visitors. The top 1-3 sales items across most product categories were GS25 private brand products and Korean brand products. There were particularly good reactions to K-food items like tteokbokki and gimbap.
GS25 plans to increase its stores in the Hanoi area. By the end of April, it will add seven more, expanding the total to 13. GS25 Vietnam has decided to push for store expansion focused on northern Vietnam, including Hanoi, and plans to significantly increase the total number of stores in Vietnam to 500 this year.
Jeong Chae-o, head of the overseas business team at GS Retail, noted, "With GS25's successful entry into Hanoi, the capital and foothold of northern Vietnam, we have established a stepping stone to become the undisputed number one convenience store brand in Vietnam. We will accelerate our growth as a global convenience store brand by expanding our market share in existing countries and exploring new overseas countries."