GoLogiq, Inc., a global provider of mobile fintech solutions for digital transformation and consumer data analytics in Southeast Asia, unveiled its expanded strategy to deploy advanced technologies, next gen fintech services, and data analytics to the Vietnamese market through convenience retail. Southeast Asia is a leader in technology implementation compared with the Western world. Starting in the 1990s, when their economies were transitioning from agrarian to industrial, they bypassed the buildout of national analog copper-wire telephone systems in favor of nationwide cellular systems – pulling hundreds of millions of people directly into the nascent digital age.
Vietnam has a population of 104 million, making it the world’s 16th most populous nation. In 2022, it has one of the fastest growing economies in SE Asia with strong GDP growth based on the recent Asian Development Bank’s Vietnam Report, with projected retail sales growth of 10.13% from 2022 to 2026 led in part by the growing demand for convenience food products. The Vietnamese middle-class is rapidly growing with customer needs shifting towards more frequent shopping, convenience, home delivery, premium brands, healthy prepared foods, and a wider selection of retail offerings. The convenience store industry in Vietnam is under-penetrated with room for rapid growth given the expanding middle-class and shifting consumer demands. GoLogiq’s strategy is to apply advanced analytics technology to the data aggregated from its brick-and-mortar convenience customers to provide a superior, differentiated retail store experience that can also serve as an entry point for consumers seeking fintech services ranging from financing to alternative digital payment methods. GoLogiq Inc. is a US-based global provider of fintech and mobile solutions for digital transformation and consumer data analytics in Southeast Asia. The Company plans to build out a network of convenience stores in Vietnam that will serve as a D2C marketing and distribution platform for its growing array of next gen fintech services.