Vietnam, with its young demographic, growing incomes and large population, is considered a hugely promising market for retailers.
Vietnam’s logistics industry can reap the rewards of the country’s growing economy.
Convenience stores with many advantages are expected to dominate the local retail market, according to experts.
Vietnam lacks an overall strategy to promote the sustainable development of domestic trade in the context of deep international integration, heard a conference held in Hanoi on December 18.
As the consumer demand increases, retailers are leveraging the private label market as a critical strategy to differentiate their brands in what is considered an inevitable sub-trend in the spread of modern retailing across the country, despite private labels thus far only occupying a small proportion of the Vietnamese retail market.
A draft law requiring all supermarkets in Vietnam to open through holidays and provide online sales and delivery services has angered retailers.
While other regional countries have made big leaps in developing their retail industries, the achievements gained by Vietnam have been modest in the last 10 years since Vietnam joined the WTO.
The Vietnam Retail Forum, themed “10 years of retail market and challenges in the future”, was held in Hanoi on December 12.
Foreign supermarkets have stepped up distribution of their products as the retail war heats up.
VOV.VN - Private sector small businesses in retail and manufacturing are not demonstrating an ability to effectively compete in the international marketplace, says Dinh Thi My Loan, chair of the Vietnam Retailers Association.
VOV.VN - The Vietnam Online Business Forum opens in Ho Chi Minh City on February 24. Vietnamese and foreign businesses attend the forum to discuss trendy online trade, technology, and business innovations.
Vietnam’s potential for e-commerce development in the retail sector could achieve a US$10-billion revenue by 2020, accounting for half the country’s total retail sales.
The domestic retail market is seeing merger and acquisition (M&A) deals between local retailers and foreign partners to increase competitiveness and ensure international integration, but they still need a specific retail development plan from the State.
Many Vietnamese retailers are coping with a slew of problems with high retail rental and tax policy but they remain confident in their competition with foreign rivals, according to a recent survey.
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 in recent years.
VOV.VN - With relatively few exceptions, the benefits of globalization have not accrued to grocery retailing, largely because it is a high-fixed cost, low margin business that requires huge upfront capital investment.
VOV.VN - The vast majority of the nation’s consumers say they prefer to purchase foreign made products instead of lower priced local alternatives, according to Dinh Thi My Loan, president of the Vietnam Retailers Association.
Vietnamese people are spending three times as much money on food as they did in 2004, according to the General Statistic Office (GSO).
(VOV) - Deputy Prime Minister Vu Duc Dam on December 16 encouraged the use of consumers paying for goods and services electronically as a substitute for using cash in a speech at an e-payment forum held in Hanoi.
It is increasingly common to find products labelled under supermarket brands, offering less expensive prices on shelves of supermarkets in major cities.