Retailers in Vietnam are targeting the rural market as the sector exhibits promising future prospects, says RNCOS.
Noida, UP -- (SBWIRE) -- 11/21/2014 -- Vietnam, one of the largest and fastest-growing markets in Southeast Asia, has bright prospects in the coming years. As the economic growth continues, there is an increasing interest among the local and foreign players regarding Vietnam’s rural market. The rural community in Vietnam accounts for more than half of the population in the country and is enjoying an income growth of more than 40%. Consumers in Vietnam are optimistic about the future, and this optimism is also consistent within the rural community.
According to our report, there still exists multitude of investment opportunities in Vietnam, especially throughout its untapped rural areas. With the desire for a better lifestyle, the clothing, cosmetics & toiletries, and household cleaning products are gaining importance among the rural consumers. The impact of retailers in rural markets will be larger than in urban markets. Several big retailers, for instance, Unilever P&G, as well as small firms are showing interest in the rural areas and the strategies that should be employed in these markets. Moreover, government intervention to boost foreign investment in retail market and innovative measures taken by national and foreign players to enhance retail sales in rural area is expected to change the face of retailing in Vietnam.
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.