VietNamNet Bridge - The Vietnamese retail market is undergoing a restructuring with new trends expected in the next three years, especially changes in investors’ strategies. Vietnam is listed among the most attractive retail markets globally Vietnam is listed among the most attractive retail markets globally. There are 800 supermarkets, 150 shopping malls, nearly 9,000 traditional markets and 2.2 million retail households throughout the country. The government has allowed to set up 100 percent foreign retail companies since 2015, while preferences, rapid urbanization and a young population all make the country among the world’s most attractive markets, according to the Vietnam Report. In the last two decades, the department store in Vietnam has had success. RELATED NEWS Japanese retailers rush to open more shops in Vietnam E-commerce: narrow door for Vietnamese businesses Chi Nam … [Read more...] about What is the future for Vietnam’s retail industry?
Retail industry trends
VietNamNet Bridge – Smartphones, which are helping to connect retailers and consumers, play a very important role in the future development of the retail industry. Thirty-six percent of Vietnamese own smartphones, according to Google and TNS’s 2014 survey on consumer behavior. The proportion soared from 20 percent to 36 percent within one year. A survey by Nielsen showed that 58 percent of Vietnamese smartphone users often use the device to make online purchases. Vietnam ranks third in Southeast Asia in the proportion of consumers shopping online, after the Philippines and Indonesia. The “smartphone boom” has helped retailers easily approach consumers, thus boosting sales. It is estimated that one-third of the 30 players in the Vietnamese e-commerce market have developed apps allowing users to order goods through smartphones or tablets. These include Lazada, Zalora, VatGia, CungMua, NhomMua and HotDeal. Zalora is a typical example which can show big … [Read more...] about Smartphones – the future of the retail industry
(VOVworld) – In line with Vietnam’s commitment to WTO, beginning January 11, 2015, foreign retailers will be allowed to establish a 100% foreign owned business in Vietnam instead of the current maximum of 50%. From that point, Vietnamese retailers will have to compete directly with foreign businesses in the domestic market. What should Vietnamese companies do to attract customers and increase their market share? By the end of last year, foreign businesses and retail corporations owned more than 40% of the 700 supermarkets in Vietnam, and 31 of 125 shopping centers in the form of joint-ventures with other foreign retailers. Those figures show that Vietnam, with a population of 90 million, is attractive to foreign investors. Retail revenue in Vietnam is predicted to grow 23% per year. This means that Vietnam’s retail market faces great opportunities, given the trend toward shopping at supermarkets and modern retail stores. Many foreign retailers including BigC, Metro, … [Read more...] about Vietnamese retailers better themselves for integration and development
One convenience of mobile devices is that they allow people to shop from wherever they are, but many businesses in Vietnam have not managed to work on their mobile interface, a new survey suggest. Nguyen Thanh Hung, vice chairman of the Vietnam E-Commerce Association (Vecom), said at a conference Monday that the country’s retail industry is falling behind new shopping trends. He proved his point by trying to open three retail websites on his cell phone, but could access only one since the others did not have a mobile version. The association’s survey last year found that mobile devices had become the top Internet surfing channel in Vietnam, but only 15 percent of retail businesses had mobile sites. More than a third of the 90 million population owned a smart phone, and 76 percent of Internet users went online on their phones every day compared to 59 percent on computers. “Mobile e-commerce in Vietnam has big potential, but not many businesses have learned to tap … [Read more...] about Vietnamese retailers fail to savvy growing trend of online shopping on phone
(VOVworld) - The past two years have been considered a difficult time for the retail sector, especially the beginning months of this year, when local purchasing power has decreased sharply due to the global and domestic economic recession. Many retailers are struggling with inflation and bankruptcy risk. The Vietnam Retailers’ Association has been implementing many solutions to help businesses maintain and develop their production. VOV looks at the issue. Statistics from the Ministry of Planning and Investment show that over the past 4 months more than 17,700 enterprises have been dissolved or have stopped operations. More than one third of them are wholesalers and retailers. Meanwhile, the consumer price index for April rose 0.05%, the lowest monthly increase in the past 2 years and the 9th consecutive month CPI has declined. Now that the inflation rate is under control, economists are worried that it’s due to a reduction of aggregate consumer demand. This could signal … [Read more...] about Helping retailers