‘Shop and Store’ a new kind of event
‘Shop and Store’ a new kind of event
With its growth in urbanised population and domestic consumption, Vietnam is brimming with opportunities for franchises and retail businesses.
To respond to the trend, Thailand’s Reed Tradex, a leading event organiser in ASEAN, is launching an international conference exhibition named “Shop and Store Vietnam”, which is an industry event that defines new business concepts for retail and franchising. Reed Tradex deputy managing director Suttisak Wilanan sheds some light on the event.
How did the “Shop and Store Vietnam” idea come about?
As the consumer business continues to embrace the wider international community, multinational retail and franchise groups have taken active steps to penetrate the Vietnamese market. They are attracted by the large and young population of consumers, with 60 per cent aged under 30.
According to figures from Vietnam’s Ministry of Industry and Trade, Vietnam witnessed the arrival of 164 foreign franchises bringing 201 brands between 2007 and 2016. Food and beverage franchises alone account for 40 per cent of them.
Meanwhile, local retailers with the upper hand as first movers will also need to prepare themselves for more intense competition. It’s not just in a high-quality location that is affordable.
Technology is now also a key competitive issue for any franchisor and retailer considering the rapid change of the consumer market.
The idea for the event came from the market’s demand. Reed Tradex started researching the retail and franchise industry in Vietnam, especially the latter, which is not new but still has ample space to develop.
We found out that every prospective franchisee has the same questions. How can you guarantee success in franchising? What is the most important in the relationship between franchisor and franchisee? How do training and support work? Is the investment worth it and is the marketing support effective?
The retail and franchise industry has a promising future, while specialised playgrounds providing practical knowledge to develop the industry are scarce. To respond to these opportunities and challenges, Reed Tradex decided to launch the international conference-exhibition (confex) “Shop and Store Vietnam 2018” (SSV18), which will cater to the needs of all businesses in expanding their business comprehensively. The proposed date for the first edition is March 28-30, 2018 in Ho Chi Minh City.
What is the concept and mission of “Shop and Store Vietnam”?
We will introduce the new concept of a confex, which focuses on delivering enriched content and a 360-degree view of the industry through a combination of conference and exhibition.
The “Shop and Store Vietnam” exhibition will gather world-class solution providers from retail technologies, finance software, store management systems, catering and hospitality equipment, professional retail services, and e-commerce systems.
The exhibition is also designed to be a business meeting place and a hub for franchise brands to meet with aspiring entrepreneurs, investors, and potential buyers who are eager to join world-class franchising networks or retailer brands.
During the exhibition, the participants will have a chance to meet face-to-face with representatives of more than 100 companies from over 15 countries and territories.
At the same time, the “Shop and Store Vietnam” conference offers a unique lineup of useful advice and tips from experts on both professional and personal levels, local insight information for investors, new trend updates for local businessmen, and networking in the simplest and most effective way.
There will be many inspirational activities such as a ‘digital supermarket’, which showcases a demonstration of tomorrow’s store, showing the way toward a cashless society.
Do you have any advice for prospective new businesses who are in the middle of searching for the right opportunity?
The Vietnamese consumer industry is set to continue on a stable and positive trajectory. In the research report “ASEAN connected 2016”, HSBC confirmed that Vietnam’s middle class has the fastest growth rate in Southeast Asia and is expected to grow from 12 million in 2012 to 33 million by 2020.
Consumer spending is on the increase due to a young population, rapid urbanisation, and an increasingly open economy with increased employment, business, and income opportunities. More than ever, this is a golden time to start or expand a business, in order to serve this increasing consumer demand.
