Supermarkets Driving the Growth of Vietnam Retail

Supermarkets are becoming popular amongst Vietnamese consumers due to wide varieties of goods and better quality of food products, says RNCOS.


Noida, UP -- (SBWIRE) -- 12/22/2014 -- The concept of supermarket is rapidly gaining popularity in Vietnam. The number of supermarkets is increasing in the country amid the growing number of young consumers and middle-class family in urban areas. Strong promotional activities and discounts, along with an extensive array of products provided by large supermarkets are luring the consumers. Though the prices of goods are bit on the higher side in a supermarket, better quality of food and non-food items, is increasing the popularity of supermarkets among the consumers.

According to our report, the number of supermarkets in Vietnam is growing at a CAGR of around 14.6%. Various factors like the ease of shopping, various varieties and qualities of products available at one place, increasing per capita income, are leading to the popularity of supermarkets among the consumers. Also, the initiatives taken by government has influenced the investors to invest in Vietnam retail market, for instance, the approval from Ministry of Industry and Trade for plans regarding the development of supermarkets and shopping centers by 2020, is expected to raise the retail sales of supermarkets in the coming years. Also, the increasing number of new investments by foreign retailers is expected to further propel the growth of supermarket format in the country.

The report, "Vietnam Retail Market Outlook 2018", by RNCOS spread in 90 pages provides detailed analysis of the Vietnam Retail Industry. The report has been divided into various segments like retail sales by industry, region, ownership, retail format and economic activity, for which forecasts have been provided till 2018.

The Industry level segment focuses on the food and non-food sectors in Vietnam Retail. Food retail mainly revolves around packaged food segments like, dried processed food, dairy, bakery, etc. On the other hand, the non-food retail provides sales of Vietnamese consumers for clothing, footwear, etc. Further, the retail sales by region and ownership, gives an idea about the retail sales of goods and services in various regions and by the state-owned, non-state-owned and foreign-owned companies of the country, respectively. Finally, to throw a light on retail sales from trade, hotel & restaurant, and tourism & services, a segment on economic activity has also been added.

The report also describes the industry trends such as modern retailing, thriving e-commerce in retail, etc. Furthermore, the report covers government regulations, along with the challenges hindering the growth of this industry.

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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.