Vietnam’s convenience store and mini-supermarket sector is expected to post another year of rapid expansion in 2026, driven by aggressive store openings from leading retail chains and a strategic push into smaller cities and rural areas, according to market research firm Q&Me.

The number of convenience stores and mini supermarkets in Vietnam is forecast to rise by 1,865 to a record 9,671 outlets this year, or up 23.89%, Q&Me said in its Vietnam modern trade retail trends 2026.

Much of the expansion is being led by Vietnam’s two dominant grocery chains – Masan’s WinCommerce and Mobile World Group's (HoSE: MWG) Bach Hoa Xanh.

Excluding those two players, the convenience-store segment focused primarily on packaged foods and ready-to-eat products remains dominated by foreign brands including Circle K, GS25, Ministop, FamilyMart, and 7-Eleven.

A GS25 convenience store in Hanoi. Photo courtesy of the company.

Among them, GS25 is projected to emerge as one of the fastest-growing chains in Vietnam this year. The South Korean retailer is expected to increase store count by nearly 35%, or 82 outlets, to 318 locations nationwide.

FamilyMart and 7-Eleven are also forecast to maintain steady expansion, with projected growth rates of roughly 23% to 172 stores and 14% to 148 locations, respectively.

At the same time, intensifying competition and rising operating costs are expected to force some retailers to restructure operations and shut underperforming stores as companies focus on improving profitability rather than simply pursuing scale, Q&Me noted.

One of the most notable shifts in Vietnam’s retail landscape is the migration of expansion strategies away from the country’s largest metropolitan areas.

Instead of concentrating growth in already crowded markets such as Ho Chi Minh City and Hanoi, retailers are increasingly directing investment toward secondary cities and rural provinces, where modern retail penetration remains relatively low and competition less intense.

According to the report, the number of convenience stores in rural and non-core provincial markets is expected to jump 25,12% to 4,933 outlets in 2026, accounting for more than half of total nationwide.

By comparison, expansion in Ho Chi Minh City and Hanoi is projected to continue at a slower pace, though still robust, with store counts rising 23.3% to 3,062 and 21.3% to 1,676, respectively.

Vietnam’s retail market continues strong growth, reaching nearly VND7 trillion ($265.51 million) in 2025, up 9% year-on-year, mainly driven by consumption expansion and urbanization.