The rapid growth of the digital economy in the past few years has speeded up the evolution of the retail industry and changed consumers’shopping behaviours, requiring retailers to innovate to better serve customers’ diverse needs and provide them with better shopping experiences. Viet Nam News reporters Xuan Huong and Thu Ngan asked retail experts from various business groups and companies for their views on the market, what retailers should do to better serve customers’needs, and more. Dinh Thi My Loan, chairwoman of the Association of Viet Nam Retailers Dinh Thi My Loan, chairwoman of the Association of Viet Nam Retailers Fifteen years ago no one thought we will have such a rapidly developing retail industry as it is now. Viet Nam’s retail industry certainly has a bright future. The retail market targets dynamic and diverse development. This is due to the actual situation and the demands of Vietnamese consumers. We will definitely focus on developing the … [Read more...] about Technology reshaping VN retail sector
What is retail sales
The Hanoitimes - In the race to gain market share in retail space, many people are worried about the inferiority of domestic investors before the progress of big players from Japan and Thailand. IKEA to buid US$450-million retail center in Hanoi What 2019 will hold to Vietnam’s retail landscape? Competition intensifies in Vietnam’s retail market World major brands flock to Vietnam retail market Hanoi retail market sees slightly increasing rent in Q3/2018: C&W The market penetration race Total retail sales of goods and consumer services in 2018 increased by 12.2% compared to 2017. In fact, the Vietnamese retail market is on the rise with great attraction for foreign businesses. A series of famous retailers from Japan, Thailand, South Korea and France have rushed into Vietnam to compete for market share. Foreign retailers are gaining footing in Vietnam. In particular, it is worthy mentioning important milestones in the Vietnamese market for … [Read more...] about Vietnam’s retail space market: Foreigners vie for bigger slice of cake
VietNamNet Bridge - The total retail and consumption revenue in Vietnam saw positive growth, with the growth rate higher than GDP growth rate. The number of retail sale points has increased rapidly in the last few years The number of retail sale points has increased rapidly in the last few years. Of these, shopping malls have been growing by 11.3 percent per annum in CAGR (Compound Annual Growth Rate). Meanwhile, the development of traditional markets is slowing down, at 0.9 percent per annum. Since January 2015, 100 percent foreign owned retailers can be established in Vietnam. 100 percent of import tariff lines, i.e, nearly all import products, have been lifted since 2018. The M&A wave in the retail industry in early 2016 has become stronger in recent years. According to VCB Securities, there were only 18 M&A deals in 2005, valued at $61 million, but the figure rose to $10.2 billion in 2017. In 2015-2017, the number of supermarkets, hypermarkets and shopping centers saw … [Read more...] about What awaits Vietnam’s retail industry in 2019?
Convenience store chains have been spreading like wildfire, with all major developers putting the pedal to the metal to gain market share Photo: Le Toan Vietnam has been one of the world’s most attractive markets for retail investment, ranking sixth in the Global Retail Development Index (GRDI) of A.T. Kearney, an American global management consulting firm. This has attracted M&A deals from both foreign and domestic businesses. Looking back on 2018, there have been great retail deals and great upheavals in the market shares of players. The local retail market has seen fierce competition, and domestic companies have had to adopt new strategies to regain their market share and improve their reputation to compete with international competitors who have the advantage in capital, technology, experience, and personnel. VinCommerce, the owner of the largest Vietnamese retail outlet chain VinMart, has bought out rival supermarket chain Fivimart. The movement is part of its plan to … [Read more...] about Retailers take to M&A to get the upper hand
Ford Vietnam has recently shipped the 20,000th Ford EcoSport from its factory in the northern province of Hai Duong, marking the significant development of the model that has been leading the SUV segment since its entry to Vietnam four years ago. Since its launch in Vietnam in 2014, Ford EcoSport was welcomed and created a new trend for urban SUV vehicles. Making up more than 20 per cent of Ford Vietnam’s sales, Ford EcoSport has contributed significantly to the growth of this brand, and expanded to the segment of young customers. Particularly in 2018, as many as 4,220 EcoSport vehicles were sold, increased 18 per cent over the same period last year. “We are proud of EcoSport, which has successfully approached a new segment and created a new trend for compact SUV vehicles in Vietnam’s urban areas, while maintaining constant growth. Not only featuring the global brand of Ford, EcoSport is also designed with modern, personalised features, energy saving, flexible … [Read more...] about Record sales driven by localised cars