Viet Nam is a promising market for foreign retailers and will have more competition on the local retail market next year which is the deadline of opening the domestic retail market.
According to the Association of Viet Nam Retailers (AVR), Viet Nam has 130 trading centres, 700 supermarkets and over 1,000 convenient shops developed by local and foreign firms, including 21 wholly-foreign invested firms, reports Dien dan Doanh nghiep newspaper.
The number of local retailers is not small but, in reality, there are only a few large and successful local retailers. Meanwhile, the domestic retail market has great potential for retailers.
The General Statistics Office reports that Viet Nam's retail market is recovering, with the opening of many trading centres, supermarkets and shopping malls. Further, the market has attracted many large multi-national groups.
Retail experts note that it is typical to find one trading centre and one shopping mall per 100,000 people, while one supermarket often serves an average of 10,000 people and 1 to 2 convenience shops serves up to 1,000 people. But in the major cities of Ha Noi and HCM City the demand is not ensured and there are areas with vacant retail sites.
Additionally, convenience shops, supermarkets, trading centres and shopping malls have accounted for 22 per cent of the domestic retail system. This percentage, however, is higher in neighbouring countries, including 30 per cent in the Philippines, 43 per cent in Indonesia, 46 per cent in Thailand, 51 per cent in China, 60 per cent in Malaysia and 90 per cent in Singapore.
More at http://vietnamnews.vn/economy/253329/retail-sector-holds-opportunities.html
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