Foreign retail businesses are adopting a multi-channel sales strategy as well as improved operations and delivery services to expand Vietnam operations despite pandemic impacts.

Despite low growth in 2021, the local retail industry is still considered full of potential and will continue to explore areas for new growth.

Vietnamese have turned the tables to become dominant in the retail market, while many foreign giants have had to leave.

The rise of local retailers via mergers and acquisitions is expected to balance Vietnam’s retail market, which had been dominated by foreign investors.

VOV.VN - Korean supermarket chain Lotte Mart has announced the closure of one of their three outlets in Hanoi, starting on July 1, as part of an ongoing shift in their development strategy in Vietnam.

Localities in the Mekong Delta have coordinated with relevant agencies and businesses to ensure the COVID-19 outbreak does not disrupt the supply of essential goods or causes price hikes, and plan to carry out food safety inspections to ensure people can shop safely.

The total value of cashless transactions jumped six times in the first half this year against the same period of 2019.