Rural areas are a promising market for Vietnamese retailers as they face intense competition from foreign businesses, especially given the full opening of the retail market from next year.
Mai Thi Tuyet Hoa, director of Niesel Vietnam's Research Department, said at a conference on the country's retail sector held in Ha Noi last Friday.
After seeing a difficult year in 2013, fashion retailers in Indonesia have said they will slow down expansion this year in a bid to focus more on business evaluation as well as to facilitate better performance in the market.
Publicly listed Mitra Adiperkasa (MAP), the country's largest upmarket retailer, expects sales growth to slow this year to between 15 and 18 percent, far lower than it posted last year, the company's corporate secretary Fetty Kwartati said.
After several missteps in its Asian expansion, global retailing giant Wal-Mart is taking a slow and careful approach, with expansion plans primarily aimed only at its three current regional markets, the Asia CEO told CNBC.
Marks & Spencer is pursuing an aggressive international growth strategy and is set to open 250 new stores in three years.
The plan is to grow its food business and increase franchise operations with the end goal of growing its international revenues by 25 percent and international profits by 40 percent.
“We are focusing on flagship stores to deliver brand presence and stand-out. We also see great opportunities in fresh food and lingerie and beauty concepts," Marc Bolland, M&S’s Chief Executive.
The Japanese convenience store chain FamilyMart has announced plans to expand at a faster pace this year at home and abroad, with Thailand serving as a regional hub and key growth engine.
The company will spend at least JPY90 billion (USD870.9 million) to add and improve stores in Thailand, Japan, South Korea, Taiwan, China, the Philippines, Vietnam, Indonesia and the US.
Taiwan's President Chain Store Corp. is set to expand this year, opening more stores, including 7-Eleven convenience stores and Starbucks coffee shops, to reach 8,300 in total, domestic and foreign combined.
After PCSC President Ray Chen took the reins two years ago, he initiated a process to eliminate business units that failed to break even, and focused the company's resources on cultivating core businesses. PCSC has seen significantly improved performance as a result as the company's earnings per share and dividend payout hit new records last year.
Australian fashion retailer Premier Investments will focus on shop upgrades and concepts, a larger network of click-and-collect websites and new distribution centres as it prepares for the next arrival of international fashion brands.
In its first-half result for the year, the group, which runs Smiggle, Portmans, Dotti, Jacqui E, Just Jeans and Jay Jays, said the group had opened four shops and closed 13, reflecting its strategy of opening in high-value locations and closing in those where the rent was too high.
Filipino fashion retailer Golden ABC Inc. is expanding it business by opening more new stores locally and overseas this year.
“I am very excited about our international expansion. We are looking at about 25 stores abroad,” Golden ABC Inc. chief executive officer Bernie Liu told reporters in a chance interview noting that all new stores to be set up overseas are for the Penshoppe brand.
The firm is looking at opening five to 10 more stores in the Middle East and about 10 stores in Indonesia.
Metcash is embarking on a five-year transformation plan aimed at securing the future of the wholesaler and its independent retailers in the face of increased competition from Coles and Woolworths in food and groceries and Bunnings and Masters in the hardware space.
Releasing long-awaited details of the plan on Friday, chief executive Ian Morrice said the strategy would underpin long-term sustainable growth for Metcash and its customers by growing sales and improving efficiency.
AEON Co (M) Bhd is expecting a steady revenue growth of 5 percent this year, with 30-40 percent expected to come from the food segment.
Its managing director Nur Qamarina Chew Abdullah said the company is growing consistently on a year-on-year basis.
On expansion plans, she said the retailer is opening another three AEON outlets in the third quarter of 2014 in Taiping, Bukit Mertajam and Kuala Lumpur. The retailer currently operates 27 outlets and four MaxValu supermarkets nationwide, and targets to have 30 outlets and six MaxValu supermarkets by year-end.