Press Release Summary = Vietnam retail industry is set to undergo a complete makeover with most supermarket chains, both domestic and overseas, making their presence felt in the country.
Press Release Body = RNCOS, in its recent report on “Vietnam Retail Industry Analysis” has found that the retailing structure in Vietnam is set to undergo a dramatic transformation over the forecasted period (2007-2011), with the air conditioned mini marts, small shopping complexes and supermarkets becoming dominant formats in the country.
The retail market of Vietnam is viewed as the third most promising retail market throughout the globe, next only to India and Russia, as per the VCCI (Vietnam Chamber of Commerce & Industry). Global distributors such as Metro Cash &Carry, Parkson, and Bourbon (Big C), have launched their stores in Vietnam, where the overall retail market value stood around US$ 21 Billion in the year 2005, as per Sai Gon Dau Tu Tai Chinh report.
As part of its strategy to be listed among the top 500 retailers in Asia-Pacific region by the year 2010, Saigon Co.op – the leading supermarket chain in Vietnam – has launched a new mart in the central Binh Thuan province. The largest store of the chain, planned to be launched by the mid year ’07, will cover around 13,000 square meter in Bien Hoa City of Dong Nai Province.
Business leaders in domestic market are gearing up to benefit from the growing interest. As per Tham Tuck Choy – General director for Parkson Hai Phong, currently Vietnam enjoys a progressively high rate of economic growth, which opens the windows of opportunities for further growth of retail industry.
As per the RNCOS report “Vietnam Retail Industry Analysis”, “Retail market in Vietnam is growing at a remarkably fast pace, leaving many other economies of the world far behindm with only exceptions being India and Russia. The sector has received a lot of foreign investment, also, the market has undergone some instances of consolidation resulting in the launch of larger shopping centers and shops.”
This report helps clients in analyzing the opportunities critical to the growth of the Retail Industry In Vietnam. Issues addressed in this report include: market size and scope of the retail industry in Vietnam, growth prospects and issues related to the industry, factors driving growth in this sector, major players in the Vietnam retail industry, opportunities & challenges faced by retailers in Vietnam, etc.
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2022
