Vietnam retail sector expands as Lotte Mart opens new store in Bac Ninh

Lotte Mart opened its 17th Vietnamese outlet on June 30 in the northern industrial city of Bac Ninh, marking the retailer’s first store in a northern industrial hub and extending its presence beyond Hanoi and Ho Chi Minh City. The 1,940 sqm store focuses on groceries, fresh foods and Korean‑Vietnamese fusion offerings, with a large portion of its inventory dedicated to food items and a range of private‑brand products.

The Vietnamese convenience‑store market is also rapidly growing, now comprising about 7,483 stores and mini‑markets that account for over 93 % of modern retail space. Korean chain GS25 plans to increase its footprint to 318 stores by 2026, while FamilyMart and 7‑Eleven are projected to operate around 172 and 148 outlets respectively. Chinese retailer Meiyijia, through its Ohmee brand, aims to open its first store in Hanoi in 2026. Industry observers note that the expansion of Korean convenience‑store chains is introducing Korean ready‑to‑eat foods such as kimbap, tteokbokki and instant noodles to Vietnamese consumers.