Petrolimex, Ohmee Vietnam Launch Convenience Store Model at Hanoi Petrol Stations

State-owned petroleum firm Petrolimex and Ohmee Vietnam have launched a new model integrating convenience stores into petrol stations in Hanoi. This initiative is driven by the rapid growth of convenience stores in Vietnam's modern retail sector. Currently, there are approximately 7,483 convenience stores and minimarts nationwide, accounting for over 93% of all modern retail outlets, reflecting the growing popularity of the 'bringing supermarkets closer to home' model among consumers. The revenue of convenience stores is forecast to increase by US$226.4 billion, with a compound annual growth rate of over 13% from 2023 to 2028. The partnership between Petrolimex and Ohmee Vietnam aims to create new revenue streams and enhance customer experience by leveraging existing petrol station infrastructure to offer not only fuel but also daily necessities and snacks. This move aligns with Vietnam's economic policies aimed at balancing convenience for citizens with economic growth. Vietnam has experienced remarkable economic growth in recent years, with a proliferation of modern commercial facilities, especially in urban areas. While maintaining deep economic ties with China, the country also navigates geopolitical tensions, making independent economic development and diverse partnerships crucial. This expansion into the convenience store business can be seen as part of Vietnam's economic development strategy to broaden the domestic consumer market and strengthen cooperation with private enterprises. Source: VietnamPlus English