The consumer outlook report from VNDirect Securities Corporation shows that the pent-up consumption trend during the pandemic is gradually decreasing in the context of rising interest rates and a weakening Vietnamese dong making consumers tighten their purse strings.
According to General Statistic Office, in the first six months of 2021, total retail sales of goods and services went up 4.9 percent compared to the same period in 2020 to 2,463.8 trillion VND (over 107 billion USD), of which goods retail revenue hit 1,985.4 trillion VND, up 6.2 percent.
Three leading Singaporean home-grown retailers on August 16 showcased their unmanned stores that allow shoppers to enter stores and buy items without having to interact with a salesperson
Vietnam’s pharmaceutical retail industry is forecast to see significant competition in 2018, with the entry of new players with strong financial capacity and experience in distribution.
Against global recession and financial crisis, Vietnam’s retail industry has cemented its position in the economy as an effective bridge between producers and consumers, actively orienting buyers towards domestic products.
Vietnam has returned to sixth place among the 30 most-attractive retail markets in the world this year according by A.T. Kearney, thanks to the expansion of convenience stores and mini-marts and the increase in use of technology in the industry.
The retail industry has changed dramatically in the digital age where everything is connected, requiring retailers to continue to innovate to better serve customers’ diverse needs, speakers have said at a one-day summit held in Ho Chi Minh City.
The local retail community has asked the Government to develop policies to help the industry compete with foreign counterparts as a more liberal trade environment has intensified competition recently.
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