top of page

Electronics supermarket market: Dien May Xanh leads the race

Vietnam's electronics market in recent years has seen strong growth in sales as well as the number of retail businesses participating in the market. According to the General Statistics Office, Vietnam has a population of nearly 100 million people with a young average age, along with an increasing income and living standard, which is fertile ground for many developing industries, including the electronics market.

Although there are many concerns about the risk of inflation, the economic recession affecting purchasing power, and the increase in input costs of some goods causing the price to increase affecting the purchasing power of consumers, the market sells the electronics retailer is still witnessing a fierce race of the big players in expanding their points of sale and capturing market share.

The electronics segment has many fiercely competitive brands such as Dien May Xanh, Nguyen Kim, MediaMart, HC, Thien Nam Hoa, Cho Lon, etc. Facing the strong acceleration of Dien May Xanh chain, other businesses do not have much room for growth.

After The Gioi Di Dong with Dien May Xanh chain has established a dominant position in the electronics retail industry, the race for the No. 2 or No. 3 position in the industry becomes "a matter of survival" for the electronics retail chains. another device if you want to continue to exist.

Typically Tran Anh - a large electronics chain in the North. Realizing that there was no advantage in the race for the top position in the industry, the company's management decided to sell it to Mobile World.

DIEN MAY XANH: Latecomer rise to the top of the market

At the end of 2010, the electronics retail system with the brand name was born and officially changed its name to Dien May Xanh Supermarket in 2015. By July 2016, Dien May Xanh Supermarket had covered all 63 provinces city across the country. In mid-2020, Dien May Xanh Supermini (DMS) was put into testing and developed rapidly 2020 with 302 stores in 61/63 provinces by the end of the year.

By the end of 2021, the Dien May Xanh chain has 1,992 supermarkets nationwide, including 800 Supermini model stores and leads the electronics retail market with 50% market share. Up to now, the Dien May Xanh supermarket system has expanded to 3368 supermarkets located in 63 major cities and provinces with more than 10,000 employees.

2021 is an extremely difficult year for Vietnamese businesses in general and MWG in particular when business activities are interrupted due to the Covid-19 pandemic. Even so, MWG has successfully overcome this storm and brought in revenue of 122,958 billion dongs. In which, more than 50% of revenue comes from Dien May Xanh chain, equivalent to about VND 61.6 trillion (up 9% over the same period last year).

MediaMart, Cho Lon can still pursue fiercely with Dien May Xanh


In 2008, MediaMart opened the first electronics supermarket in Hanoi to officially participate in the electronics retail business, creating a completely new shopping style with the capital's people, by providing products and services to consumers.

After 15 years of operation, MediaMart has now owned a chain of more than 350 electronics supermarkets in 32 major cities/provinces across the country.

The investment in expanding the sales network has contributed to increasing revenue for this electronics supermarket chain. Accordingly, MediaMart's revenue increased continuously in the period of 2017 - 2021 and reached more than 8.5 trillion dongs in 2021. Profit after tax also increased by more than 2.5 times compared to 2020.


In 2001, Cao Phong Co., Ltd. was established with the brand name Cho Lon Electronic - Furniture Supermarket. The birth of Cho Lon Electronic - Furniture Supermarket has marked a big step forward in the Vietnamese electronics market. This is a pioneer supermarket in the field of retailing electrical appliances and furniture in Vietnam.

With constant efforts, Cho Lon Electronic - Furniture Supermarket is growing strongly, with 96 branches across the provinces in the South and Central regions, and plans to expand to the North in the near future.

Cho Lon Electronic is currently an electronics chain that can still fiercely pursue Dien May Xanh. With only focusing on the southern region, it is clear that Cho Lon is one of the most "worthy" competitors of Dien May Xanh in this area. However, closing the gap with Dien May Xanh is very difficult.

In 2020, the revenue of this electronics chain has slow down and recovered in 2021. Specifically, the revenue of Cho Lon electronics chain in 2021 is about 16 trillion VND (up 3.5% over the same period last year). Although sales fluctuated, Cho Lon Electric Machine still maintained a continuous growth in profit after tax.

Nguyen Kim, HC, Pico, and Thien Nam Hoa all lost their breath


Nguyen Kim's first store was opened in 1996 on Tran Hung Dao Street, District 1. This is the first place in Ho Chi Minh City to sell genuine electronic and electrical products under a modern retail model.

Nearly 20 years later, Nguyen Kim continues to maintain its pioneering position in the electronics market. The company opened many new shopping centers and established the first electronics retail website in Vietnam. In 2015, Nguyen Kim officially cooperated with Central Retail Group, increasing its strength to become a world-class retailer.

At that time, Nguyen Kim accounted for 12% of the market share of genuine electronics in Vietnam, ahead of Dien May Xanh (8%) and Cho Lon (7.5%).

Nguyen Kim used to be the "big brother" of the electronics industry for a long time but has inexplicably slowed down for many years with flat sales, even a decline. Accordingly, the revenue of the electronics supermarket system in 2020 was just over 7.2 trillion VND, down nearly 25% compared to the same period in 2019. Also in 2020, this giant lost nearly 340 billion VND in profit after tax.

As a result, Nguyen Kim not only lost the leading position but also lost the 2nd and 3rd positions to other rising competitors, Cho Lon Electronic and MediaMart.


HC Electronic Supermarket under VHC Trading Co., Ltd. was established in 2006. HC is considered the largest electronics supermarket system in Vietnam with a display floor area of ​​1000 - 4000m2 with a full range of warehouse systems, auxiliary logistics, and distribution of more than 20,000 electrical products from famous brands in the world such as Samsung, Electrolux, LG, Toshiba, Panasonic...

HC electronic supermarket currently has a scale of 41 branches across provinces and cities and focuses on 5 categories: Electronics, Refrigeration, Household appliances, Information Technology, and Phones &Digital entertainment device

Sales of HC electronic supermarket were almost flat. Specifically, the revenue in the two years 2018 - 2019, was at the threshold of VND 8 trillion and decreased to about VND 6 trillion in 2020 and then increased to about VND 7 trillion in 2021. However, this level of revenue remained lower than in 2019.


Pico is a testament to the pioneering in bringing a new electronics retail model to the Hanoi market, a supermarket model with tens of thousands of scientific items displayed on a large area towards the customer's shopping experience.

The first Supermarket Electric Pico was opened in July 2007 in Hanoi, after more than 15 years of development efforts, by 2022, Pico has developed a system of up to 20 supermarkets covering Hanoi and many provinces, big cities of the North such as Hai Phong, Nam Dinh, Ninh Binh, Ha Nam, Phuc Yen, Thanh Hoa...

The recent business situation of the supermarket electric Pico chain is also not very positive. Due to the impact of the Covid-19 epidemic and consumers tightening their spending, the consumption of electronic products of all kinds was very slow, and the price dropped sharply without buyers, leading to a sharp decline in sales. Especially in 2021, Pico's revenue decreased to only about 1.2 trillion VND (down more than 15% compared to 2020).


Thien Nam Hoa Service and Trading Joint Stock Company (formerly Thien Nam Hoa Service and Trading Company Limited) were officially established and put into operation at the end of 2001. Up to now, Thien Nam Hoa has developed into a chain of Electronic - Furniture with 10 large and fully equipped centers.

Six key business lines include Electronics, Refrigeration, Household Electrical Appliances, Information Technology - Digital, Telecommunication - Office Equipment, and High-class Furniture, with more than 80,000 genuine products of the world's leading brands such as Sony, Toshiba, LG, Panasonic, Samsung, Sharp, Sanyo, Toshiba, Electrolux, Nokia, HP, Hitachi, Philips, Acer,...

Also unable to avoid the influence of the Covid pandemic and competition from rivals, Thien Nam Hoa also fell into a serious decline in revenue. Specifically, revenue in 2021 decreased by 42% compared to 2020 and decreased by 64% compared to 2019. Profit after tax was also negative in the last 2 years.

The general situation of electronics retail businesses is that many supermarkets have to close, sales decrease, and inventories increase, but they still have to bear large rental costs, leading to huge losses. In addition, to the shrinking market share due to low growth and even negative growth, the profit problem is also a big pressure for these electronics chains.

Currently, the war in the electronics market focuses on big names such as Dien May Xanh, HC Electronics Supermarket, MediaMart, Cho Lon Electronic, Pico, Thien Nam Hoa,... Each big man has his own advantage, and his own development direction to compete and win a piece of the market pie that has been divided into very small parts. Therefore, these businesses understand that they need to take the proper steps if they do not want to fail in the tough competition.

Source: Vietdata


bottom of page