According to the Consumer Retail Industry Report published by SHS in November 2025, Circle K dominates the 24-hour convenience store segment in Vietnam. Established in 2008, the chain operates approximately 447 stores, boasting a dense presence in major cities like Ho Chi Minh City and Hanoi, as well as various provinces.
GS25 ranks second in network size, entering the Vietnamese market in 2018 and currently operating around 245 stores. B&Company reports that GS25’s revenue grew steadily from 2021 to 2023, surpassing 1.5 trillion VND in 2023—a 23% increase year-over-year. This growth is attributed to its franchising strategy (launched in July 2024) and large-format stores with seating areas. Since early 2025, GS25 has expanded northward, opening multiple stores in Hanoi, marking a new phase of accelerated growth to close the gap with Circle K.
FamilyMart and 7-Eleven trail behind with fewer stores. FamilyMart maintains around 160 locations, primarily in Ho Chi Minh City. Meanwhile, the globally renowned 7-Eleven operates only 99 stores in Vietnam, beginning its northern expansion in June 2025.
In terms of network scale, Circle K has nearly double the stores of GS25 and 2–3 times more than 7-Eleven or FamilyMart.
The report highlights that consumer spending remains a key driver of Vietnam’s economic growth, contributing an average of 65% to annual GDP. Following the COVID-19 impact from 2020 to 2022, retail revenue rebounded, reaching nearly 5.2 trillion VND in the first nine months of 2025—a 9.6% increase year-over-year.
Traditional general merchandise retail still holds a significant share but is shrinking as modern retail and e-commerce expand. By late 2024, Vietnam had approximately 1.4 million household grocery stores and over 8,300 traditional markets, mostly small-scale with fewer than 200 trading points, serving local residential needs.
Modern retail channels are increasingly popular, especially in urban areas. Over the past five years, minimarts and convenience stores have seen the strongest growth, with a CAGR of 18.7%, reaching 7,483 stores by the end of 2024 and accounting for 93.4% of modern channel outlets. Domestic retailers dominate, owning 81% of these stores.
Kixx Lubricant Expands Customer Reach Through GS25 Convenience Stores
Starting November 2025, Kixx will distribute two motorcycle engine oil products across GS25 stores and launch Kixx Station, offering customers a professional oil change experience right at their convenience store.
The Century-Old Secret that Makes 7-Eleven a $47 Billion Takeover Target
This buyer has been “hunting” 7-Eleven for 20 years.
The Ultimate Convenience Store War: GS25 Takes on Circle K with a Grand Vision
“Burning cash” on the convenience store game has kept GS25 consistently in the red, despite steadily growing revenue from 2021 to 2023, with a remarkable surge of 23% year-over-year, reaching over 1,500 billion VND in 2023.
