Vingroup launches first virtual store

By Dat Nguyen   May 23, 2019 | 08:00 pm PT
Vingroup launches first virtual store
VinMart 4.0 virtual stores will be set up in Hanoi and Ho Chi Minh City. Photo courtesy of VinCommerce.
Vingroup has launched Vietnam’s first virtual store chain to take advantage of a tech-savvy population and the widespread use of smart devices.

The VinMart 4.0 store allows users to buy a product by scanning its QR code with a smartphone app.

The products are listed on large banners in crowded public areas such as bus stations and office buildings.

VinMart said it would deliver purchases within 2-4 hours, and for free if the bill is over VND300,000 ($13).

It plans to set up 20 virtual stores in Hanoi and Ho Chi Minh City initially.

VinCommerce, the retail arm of Vingroup, is the largest retailer in Vietnam in terms of number of stores with over 1,800 VinMart+ convenience stores and VinMart supermarkets.

About 73 percent of Vietnam’s population uses mobile phones, of which 42 percent use smartphones, according to Vietnamese digital advertising firm Adsota.

The virtual store, an online store that displays merchandise, is touted as a solution for retailers to cut infrastructure and staff costs.

The world’s first virtual store was set up by Homeplus, an affiliate of British firm Tesco, in South Korea in 2011.

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