According to tech retailers, the brand-exclusive store model (Mono Store – or specialized store) is a new business form in Vietnam, but it is already active in many countries.
After Apple, Samsung has teamed up with Minh Tuan Mobile and ShopDunk to open the first two Premium Store systems in Vietnam. Previously, the Apple monostore model was developed in 2021 with stores opened by Mobile World (TopZone) or ShopDunk, Vietnamnet reported.
According to tech retailers, the brand-exclusive store model (Mono Store – or specialized store) is a new business form in Vietnam, but it is already active in many countries. Since the domestic mobile retail market belongs to major brands, monostore is a solution to reach more customers.
Counterpoint Research analyst Glen Cardoza said many companies working with partners to open branded stores demonstrates that the direct retail sector still has a lot of potential in Vietnam. According to this expert, the online retail market in Vietnam has grown, but not as much as in other countries. That’s why brands still attach importance to traditional stores.
Forming brand-exclusive stores (mono-stores) is a new development step. So-called experience stores have been in Vietnam for a long time with the participation of Oppo, Samsung, Xiaomi and Huawei. However, these stores are primarily focused on display and product introduction, not sales.
Meanwhile, the mono store model with a combination of retailers and phone brands creates stores with good service quality and competitive prices. In Vietnam, Apple’s exclusive stores are operated by major chains such as Mobile World’s TopZone, ShopDunk, F.Studio and eDigi.
Mobile World aims to open 50-60 TopZone stores in the first quarter of 2022. TopZone has been generating good income for Mobile World in recent times. In its first month of opening, coinciding with the opening of the iPhone 13 series, TopZone earned total sales of approximately VND 110 billion from four stores.
The representative of the SamCenter system set a target to open about 30 stores by 2022. To achieve this goal, the system needs to open two to four additional stores each month, according to vietnamnet†