Along with ensuring quality and safety, Vietnamese firms should make their products’ price suitable and meet customers’ demands to sell in foreign distribution channels, said Naohisa Saeki, AEON Vietnam’s Deputy General Manager.
VOV.VN - Despite facing wide fluctuations, the fast-moving consumer goods (FMCG) market in rural areas achieved a growth rate of 6.1% last year compared to the 4% level recorded in urban areas.
Vietnam’s retail market is expected to grow fast to meet strong increases in shopping and recreational demand from 2018 – 2021, said Pham Thai Binh, Head of Retail Leasing Savills Ho Chi Minh City.
Vietnam, ranked among the world's top 30 retail markets with the best opportunities by A.T. Kearney, continues to prove its attractiveness as two foreign investors have entered the local retail sector this year.
As the country’s consumption demand increases to match national economic progress, more and more foreign retailers are entering the Vietnamese market to a warm welcome from buyers, while Vietnam’s domestic brands look for their own growth strategies against the newcomers.
JX Nippon Oil & Energy is receiving close to $15 million in the first year after acquiring Petrolimex shares. This, coupled with the fact that there are 29 petroleum import-export distributors in Vietnam, makes the petroleum retail market especially lucrative.
The foreign retail brands which have entered the Vietnamese market recently are all powerful and experienced, but it is too early to say who will thrive.
The Mekong Delta is emerging as a destination for both domestic and foreign retail companies who have spotted potential in the local retail market, the Cong Thuong (Industry & Trade) newspaper reported.
VOV.VN -The fast-growing convenience store segment in Vietnam has been forecast to grow at 34.7% per year over the next several years, according to a study compiled by grocery research agency, IGD.
Vietnam will accelerate the development of logistics services to facilitate trade and improve the economy’s competitiveness, according to an action plan which was approved recently by Prime Minister Nguyen Xuan Phuc.
A large number of foreign investors are expressing their keen interest in Vietnam’s retail market, according to a report of The Economist Intelligence Unit (EIU) issued on February 27.
Prime Minister Nguyen Xuan Phuc has asked ministries and sectors to work together to build growth scenarios for each sector and field and report to him every quarter, towards realising the targets of a 6.7 percent growth and 4 percent inflation in 2017.
VOV.VN - Vietnam has been rated as one of the fastest growing retail markets in Asia. The market fueled economic growth and generated about 7 million jobs last year.
Vietnamese producers must improve product quality and make the most of their advantages so that imported goods don’t take over the market, the Vietnam Chamber of Commerce and Industry said.
Vietnam has emerged as a powerful manufacturing powerhouse in Asia but “weak logistics activities have limited its trade competitiveness”, the deputy minister of industry and trade said at a logistics forum held on November 24 in Ho Chi Minh City.
Japanese retailers have devised a detailed plan, with active support from their Government, to tap the huge potential of the Vietnamese market.
Parkson Holdings, a Malaysian department store operator with outlets across Asia, is expected to close its third store in Vietnam next month after earnings in the market slumped, according to local media reports.
VOV.VN - Nowadays, Thu Huong no longer shops at the traditional stores and wet market near her home, choosing instead to grab a cab and head to a newly opened air-conditioned Aeon Co. mall across town in Hanoi.
Vietnam was listed in the top 30 most lucrative emerging retail markets in the world for foreign investors in A.T. Kearney's Global Retail Development Index.
Young population and increasing middle class have made Vietnam one of the most attractive emerging retail markets.