According to tech retailers, the brand-exclusive store model (Mono Store – or specialized store) is a new business form in Vietnam but has already been operating in many countries.
After Apple, Samsung has cooperated with Minh Tuan Mobile and ShopDunk to open the first two Premium Store systems in Vietnam. Previously, the Apple mono store model was developed in 2021 with stores opened by Mobile World (TopZone) or ShopDunk, the Vietnamnet reported.
According to tech retailers, the brand-exclusive store model (Mono Store – or specialized store) is a new business form in Vietnam but has already been operating in many countries. As the domestic mobile retail market belongs to big brands, mono store is a solution to reach more customers.
Analyst Glen Cardoza from Counterpoint Research said that many firms cooperating with partners to open brand stores shows 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 a long time with the participation of Oppo, Samsung, Xiaomi, and Huawei. However, these stores mainly focus 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 TopZone of Mobile World, ShopDunk, F.Studio, and eDigi.
Mobile World aims to open 50-60 TopZone stores in the first quarter of 2022. TopZone has brought good revenue to Mobile World in recent time. In the first month of opening, coincident with the opening of the iPhone 13 series, TopZone earned total revenue of about 110 billion VND from four stores.
The representative of SamCenter system set a goal of opening about 30 stores in 2022. To achieve this goal, the system needs to open two to four more stores every month, according to Vietnamnet.