Noida, UP -- (SBWIRE) -- 07/03/2011 -- According to our recent report “Vietnam Retail Market Forecast to 2014”, Vietnam’s retail market is one of the most attractive retailing industry worldwide. The country has a young population, which was the main reason for the robust growth of the industry. Furthermore, the Vietnamese government continued to encourage local players to participate in the retailing industry to stimulate growth. Besides this trend, various other strong fundamental drivers discussed and analyzed in the report will enable the country’s retail market to sustain its upward growth trend in the coming years.
As per our analysis, although the country’s retail market is dominated by traditional retail stores, the concept of modern retailing is constantly growing in the country with the entry of foreign players and changes in consumer buying pattern. Modern retail formats, such as hypermarkets, supermarkets, air conditioned minimarts, and small shopping complexes are expected to become more popular in coming years and will attract more consumers. Consequently, we anticipate that, the share of modern retailing in the country’s retail sales will reach around 61% by the end of 2017.
Further, our report reveals that, being a developing market, food is the most important component of retail sales accounting for about two-thirds of the total retail sales. Vietnamese consumers are now accepting frozen food and other materials available in retail outlets, thus spurring the sales of these items. In terms of non-food retail segment, rising young population is the major contributor to the development of consumer electronics market, especially personal computers and mobile phones.
Our report “Vietnam Retail Market Forecast to 2014”, has analyzed factors critical to the success of the Vietnamese retail industry. It has also identified key players in the market and has included their recent activities. Additionally, the report sheds light on the emerging industry trends, such as internet retailing, mobile retailing, private labels, luxury retailing along with various growth hurdles, such as government policies, poor supply chain management, limited retail space. Most importantly, the report discusses market structure along with current, future, and past market performance of the retail industry in Vietnam.
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