Despite the impact of the COVID-19 pandemic, the retail market in Vietnam in the first quarter of this year still recorded positive results from e-commerce, online shopping and delivery services.
Despite the impact of the COVID-19 pandemic, the retail market in Việt Nam in the first quarter of this year still recorded positive results from e-commerce, online shopping and delivery services.
Vietnam’s retail sector has actively adapted to better serve the rising number of customers now shopping online more often due to the COVID-19 pandemic.
Following its success in previous years, the Vietnam International Retail Tech and Franchise Show will see its 11th edition organised in Ho Chi Minh City this week.
Vietnam’s total revenue from retail trade and services in the first nine months of this year reached 3.6 quadrillion VND (around 155.3 billion USD), 11.6 percent over the same period last year.
Vietnam’s total revenues for retail trade and services reached an estimated 3.21 quadrillion VND (137.4 billion USD) in the first eight months of 2019, up 11.5 percent year on year, the General Statistics Office (GSO) has announced.
The Ministry of Industry and Trade said only in big retailers such as Big C and Saigon Co.op, the proportion of Vietnamese goods accounts for over 90%, while in other businesses, it accounts for 70%.
Vietnam’s total outbound investment in the first quarter of 2019 reached an estimated 120 million USD, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
Fujimart Vietnam Retail, a joint venture between Japanese trading house Sumitomo and local retail and real estate conglomerate BRG Group, will open its first Vietnamese supermarket in Hanoi this month.
E-commerce is growing rapidly and thus posing challenges to State management agencies, as heard at a conference held in Ho Chi Minh City on September 14 reviewing the five-year implementation of the government’s Decree No.52/2013/ND-CP on e-commerce.
The retail sector plays a core role in Ho Chi Minh City’s economic growth, heard a workshop held recently by the municipal Department of Industry and Trade to discuss building a list of key trade and service products.
The Vietnam E-commerce Association (VECOM) and the Bangkok-based Reed Tradex Co. Ltd, an exhibition organiser, have agreed to cooperate in promoting specialised workshops and events to introduce technological solutions and platforms for Vietnam’s retail and consumer sector.
Maximising the shopping experience with the help of digital in-store solutions is key for future success in the consumer goods sector, delegates said at a seminar held in HCM City on June 27.
Vietnam’s retail sector earned about 129.6 billion USD in 2017, a rise of 10.6 percent from the previous year, according to a report on global retail market trends of Savills Vietnam retail consultancy.
HCM City’s retail sector has been growing steadily, achieving an 11.3 percent increase by the end of 2017 compared to 2016, according to the city’s Department of Industry and Trade.
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.
The growth of the retail sector in Vietnam is impressive, with market size set to reach 180 billion USD in the next three years. Yet, getting a slice of the pie is not a piece of cake, especially for
Vietnam’s retail sector is forecast to be stable in the coming years, attracting investment from many foreign enterprises thank to its large population, brighter economic outlook and greater purchasing power.
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