WinCommerce targets 10,000 stores as Masan bets on Vietnam’s modern retail boom

Vietnam’s largest modern retailer, WinCommerce (WCM), plans to expand its nationwide network to 10,000 stores within five years, aiming to modernize the country’s fragmented retail landscape, CEO of Masan Group Danny Le said during an online shareholders meeting.

Le forecast that modern retail formats will account for 25-30% of Vietnam’s retail market by 2029-2030, up from less than 10% today.

As of Q3/2025, WCM - which operates the WinMart, WinMart+ and WiN chains - had more than 4,300 outlets nationwide. In 2026 alone, it is expected to open 1,000-1,500 new points of sale.

Sustainable growth quarter by quarter

WCM’s sales rose 10% in Q1, 13% in Q2 and 22% in Q3, driven by both network expansion and same-store growth.

Newly opened outlets are also becoming profitable faster - achieving 1-2% EBIT (earnings before interest and taxes) margins in their first year, compared with break-even performance in 2024.

In rural areas, a strategic focus for expansion, payback periods have shortened to under three years, in line with regional benchmarks.

Executives said the company’s sustained growth is powered by data-driven management and digital transformation, as even small operational efficiencies can significantly impact margins in the low-profit retail sector.

AI and data driving retail efficiency

WCM uses big data and AI to determine store locations, product assortments and inventory planning. Drawing from data across 4,300 modern outlets and 400,000 traditional stores, the retailer identifies underserved areas and adjusts its product mix by local consumption habits.

"We do not pursue far-fetched technology, but focus on solving practical problems that occur in each store," said CFO Phan Nguyen Trong Huy.

Initial success has been demonstrated with the MEATDeli chilled meat category, which recorded a 15% increase in revenue contribution and accounted for half of the category's total growth during the year.

Another breakthrough comes from the automation of the ordering process. Previously, store employees spent about 30% of their time forecasting replenishment needs - a repetitive daily task. Now, a centralized ordering system powered by machine learning predicts next week’s sales and accurately calculates how much inventory should be ordered today.

As a result, 22% of total order volume has been automated since the beginning of the year; the goal is to reach 66% by the end of 2025 and over 90% in 2026. This initiative helps WinCommerce save around VND300 billion ($11.39 million) in operating costs each year. But the greater benefit lies in customer experience.

“Instead of spending time planning orders, employees now have more time to engage with customers - to smile, greet, and thank them. The gain is not just VND300 billion; the ripple effect will be far greater when staff focus on serving consumers,” Huy said.

The fourth question - “who to sell to and how” - is being addressed through a customer data-driven personalization strategy, which WinCommerce is continuing to develop. The company said it would share more details with shareholders in the near future.

Expanding access to modern retail nationwide

The company’s expansion aligns with Vietnam’s new national retail development strategy, approved under the Prime Minister's Decision No. 2326/QĐ-TTg, which promotes modern distribution formats such as supermarkets and convenience stores to enhance food safety, traceability, and sustainability.

With more than 4,300 stores now in 34 cities and provinces, WCM is bringing modern retail closer to consumers across both urban and rural areas. “It’s not just about adding more stores,” the company said. “It’s about improving everyday life - making safe, high-quality products and good service accessible to every Vietnamese family.”