Vietnam is witnessing a gradual shift from traditional to modern retailing with some 700 supermarkets scattering in 60 out of 63 cities and provinces nationwide, moving emphasis away from local markets and outlets.
This trend was revealed at a forum in Hanoi on December 6, where home retailers sought ways to stay ahead of the competition as their foreign rivals are making inroads in the market.
Chairwoman of the Association of Vietnam Retailers Dinh Thi My Loan urged them to fix shortcomings, informing that the Ministry of Industry and Trade will facilitate joint work with top global partners to acquire their experience, especially in managerial know-how and technological advances.
According to the ministry, total retail sales in 11-month period surged 12.56 percent on an annual basis, lower than previous years’ growth. Distributors, however, still pin high hopes on the big market at home. They have even teamed up with more domestic peers to dominate the market.
Retail volumes via supermarkets and trading centres are forecast to account for 45 percent of total social sales by 2020.
Many voiced that firms must work harder by adopting new selling methods while improving their services to stay competitive as challengers increase.-VNA
This trend was revealed at a forum in Hanoi on December 6, where home retailers sought ways to stay ahead of the competition as their foreign rivals are making inroads in the market.
Chairwoman of the Association of Vietnam Retailers Dinh Thi My Loan urged them to fix shortcomings, informing that the Ministry of Industry and Trade will facilitate joint work with top global partners to acquire their experience, especially in managerial know-how and technological advances.
According to the ministry, total retail sales in 11-month period surged 12.56 percent on an annual basis, lower than previous years’ growth. Distributors, however, still pin high hopes on the big market at home. They have even teamed up with more domestic peers to dominate the market.
Retail volumes via supermarkets and trading centres are forecast to account for 45 percent of total social sales by 2020.
Many voiced that firms must work harder by adopting new selling methods while improving their services to stay competitive as challengers increase.-VNA
