Starbucks is Expected to Reach 100 Stores in Vietnam in 2023

New stores are being oriente by this chain with a moderate area that can let customers sit and drink on the spot or serve just take away.

They target more space in new urban areas, high-rise buildings or local communities. “We will continue to open more stores and will look for business opportunities in new places beyond the cities we have already visite,” she said.

By far Starbucks’ largest market in Vietnam is Ho Chi Minh

According to Ms. Patricia Marques, Binh Duong use to be known as an industrial zone where workers return from Ho Chi Minh City in the morning and afternoon. However, the province now has many residential areas on-site for professionals.

“We are amaze at the potential in Binh Duong Hospitals Email List and will continue to grow here. Hoi An has tourists but must continue to explore. Or Qui Nhon tourism has not been develope before, but now it is vibrant with many resorts, so that is the business potential for us,” said Ms. Patricia.

In addition to the number of stores, Ms. Patricia says the chain’s long-term goal is to “really become the customer’s everyday coffee”. So what advantages and challenges does Starbucks have?

In terms of advantages, the Asian fast-moving consumer goods ( FMCG ) industry report by Kantar World Panel said that the Vietnamese beverage industry has recovere after two years of being affecte by the epidemic. The third quarter of 2022 recorde an average growth rate of 5.2%, only 0.4% lower than the average growth rate of the whole Asia.

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Patricia Marques also confirme that in the new normal period

The financial results of the chain “have had a certain growth”.

Macroeconomic conditions in 2023 are still difficult to preict, but according to the General Director of Starbucks Vietnam, they have learne to maneuver get CMB Directory to through difficulties during the two years of the epidemic to continue to develop.

Currently, Starbucks has gradually adapte to local consumption habits. In the second half of 2021, they accepte payments with two e-wallets.

In the past, this market was mainly cash, but through the pandemic, it became very common to go cashless,” said Patricia.

Allegra World Coffee Portal a specialize information platform on the UK coffee industry – forecasts that Vietnamese coffee chains will have a total of about 5,200 stores by 2025. In general, this market in the long-term is still considere to be a good market. has potential, but is not easy to conquer.

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