Vietnam among top 30 most lucrative retail markets

Customters are shopping at a supermarket. Vietnam is ranked one of 30 most lucrative retail markets. (Source: VNA)

Hanoi (VNA) – Vietnam was listed in the top 30 most lucrative emerging retail markets in the world for foreign investors in A.T. Kearney's Global Retail Development Index.

According to the Ministry of Industry and Trade (MoIT), a recent survey from Nielsen Vietnam showed 34 percent of consumers frequently shop at supercentres, 29 percent at supermarkets and 22 percent at convenience stores and mini-stores.

According to experts, convenience stores and mini-stores will develop strongly in Vietnam because the model needs little capital, can be built in small spaces and has quick capital recovery.

It is estimated that Vietnam will have up to 1,300 supermarkets and supercentres and 337 commercial malls by 2020.

According to the MoIT, there is one convenience store per 69,000 people in Vietnam, in China the rate is one per 21,000 people and one per 1,800 people in the Republic of Korea.-VNA