NEW YORK, Jan. 9, 2023 /PRNewswire/ – Technavio categorizes the retail market in Vietnam as a part of the internet and direct marketing retail market, which covers the revenue generated by companies providing retail services primarily on the Internet through mail orders, door-to-door retailers, and TV home shopping retailers. The size of the retail market in Vietnam is estimated to increase by USD 163.49 billion. The market’s growth momentum will progress at a CAGR of 11.4%.
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Retail market in Vietnam – Vendor analysis
Vendor offerings –
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7-Eleven Inc. – The company offers retail services through its 7-Eleven Stores.
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AEON CO. Ltd. – The company offers retail services through its Supermarkets business and General Merchandise stores.
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Berli Jucker Public Co. Ltd. – The company offers retail services through Big C Supercenter.
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Central Group of Company – The company offers retail services such as department stores, lifestyle centers, and lifestyle and fashion brands.
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Vendor landscape –
The retail market in Vietnam is fragmented, with the presence of both small and large vendors. A few prominent vendors that offer retail in Vietnam in the market are 7-Eleven Inc., AEON CO. Ltd., Berli Jucker Public Co. Ltd., Central Group of Company, Central Retail Corp., Charoen Pokphand Foods PCL, Circle K, E Mart Co. Ltd., FPT Retail Joint Stock Co., Lotte Shopping Plaza Vietnam Co. Ltd., Masan Group, MM Mega Market Vietnam, Saigon Union of Trading Cooperatives, and SPAR International and others.
With the rise in competition, smaller entities are acquired by or merged with major players. A few large firms dominate the industry in terms of market share. However, mid-size and small businesses are expanding their market presence by establishing new contracts and entering new markets as a result of technological advances and product innovation. Hence, the retail market in Vietnam is anticipated to witness high competition and has high growth potential.
Retail market in Vietnam – Customer landscapeTo help companies evaluate and develop growth strategies, the report outlines –
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Key purchase criteria
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Adoption rates
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Adoption lifecycle
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Drivers of price sensitivity
Retail Market In Vietnam – Segmentation assessment
Segment overviewTechnavio has segmented the market based on distribution channel (offline and online) and type (grocery, electronics and appliances, home and garden, health and beauty, and others).
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The offline segment will contribute significantly to market growth during the forecast period. Domestic and foreign retail giants in Vietnam are competing with each other by providing a variety of shop formats, including commercial centers, supermarkets, and grocery and convenience stores. Supermarkets offer products that are in line with the day-to-day demands of consumers. Convenience stores are small retail stores that offer everyday products such as groceries, confectionaries, soft drinks, snacks, personal care products, toiletries, and other regular-use items. These factors will drive the growth of this segment during the forecast period.
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Retail market in Vietnam – Market dynamics
Leading drivers – The growing demand for convenience food products is driving the Vietnam retail market growth. The preference for convenience food products, such as processed meat and poultry products, is increasing when compared to home-cooked foods that need to be fully prepared. This is because of changing lifestyles, which has led to a reduced preference for traditional methods of cooking. These factors are expected to increase the demand for convenience products and, in turn, fuel the growth of the retail market in Vietnam during the forecast period.
Key trends – Urban lifestyles are a key trend in the market. Urbanization and changing demands of young urban customers have resulted in significant developments in contemporary retail channels such as convenience shops and e-commerce. Established and private retailers in the market are focusing more on online sales. Retailers are also leveraging factors such as internet and smartphone penetration to offer their products online. Such factors will support market growth during the forecast period.
Major challenges – Issues related to logistics and supply chain operations are hindering the Vietnam retail market growth. Back-end processes involved in supply chain management operations are complex, as they involve functions such as the acquisition of products, warehouse management, packaging, inventory management, distribution, and merchandising of products. Moreover, the risk of product damage adds to the complexity of the supply chain process. These factors will hinder the market growth during the forecast period.
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What are the key data covered in this retail market in Vietnam report?
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CAGR of the market during the forecast period
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Detailed information on factors that will drive the growth of the retail market in Vietnam between 2023 and 2027
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Precise estimation of the size of the retail market in Vietnam and its contribution to the parent market
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Accurate predictions about upcoming trends and changes in consumer behavior
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A thorough analysis of the market’s competitive landscape and detailed information about vendors
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Comprehensive analysis of factors that will challenge the growth of the retail market in Vietnam vendors
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Table of contents
1 Executive Summary
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1.1 Market overview
2 Market Landscape
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2.1 Market ecosystem
3 Market Sizing
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3.1 Market definition
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3.2 Market segment analysis
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3.3 Market size 2022
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3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
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4.1 Retail market in Vietnam 2017 – 2021
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4.2 Distribution Channel Segment Analysis 2017 – 2021
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4.3 End-User Segment Analysis 2017 – 2021
5 Five Forces Analysis
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5.1 Five forces summary
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5.2 Bargaining power of buyers
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5.3 Bargaining power of suppliers
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5.4 Threat of new entrants
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5.5 Threat of substitutes
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5.6 Threat of rivalry
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5.7 Market condition
6 Market Segmentation by Distribution Channel
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6.1 Market segments
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6.2 Comparison by Distribution Channel
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6.3 Offline – Market size and forecast 2022-2027
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6.4 Online – Market size and forecast 2022-2027
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6.5 Market opportunity by Distribution Channel
7 Market Segmentation by Type
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7.1 Market segments
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7.2 Comparison by Type
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7.3 Grocery – Market size and forecast 2022-2027
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7.4 Electronics and appliances – Market size and forecast 2022-2027
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7.5 Home and garden – Market size and forecast 2022-2027
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7.6 Health and beauty – Market size and forecast 2022-2027
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7.7 Others – Market size and forecast 2022-2027
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7.8 Market opportunity by Type
8 Customer Landscape
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8.1 Customer landscape overview
9 Drivers, Challenges, and Trends
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9.1 Market drivers
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9.2 Market challenges
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9.3 Impact of drivers and challenges
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9.4 Market trends
10 Vendor Landscape
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10.1 Overview
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10.2 Vendor landscape
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10.3 Landscape disruption
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10.4 Industry risks
11 Vendor Analysis
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11.1 Vendors covered
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11.2 Market positioning of vendors
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11.3 7-Eleven Inc.
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11.4 AEON CO. Ltd.
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11.5 Berli Jucker Public Co. Ltd.
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11.6 Central Group of Company
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11.7 Central Retail Corp.
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11.8 Charoen Pokphand Foods PCL
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11.9 Circle K
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11.10 E Mart Co. Ltd.
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11.11 FPT Retail Joint Stock Co.
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11.12 Lotte Shopping Plaza Vietnam Co. Ltd.
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11.13 Masan Group
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11.14 MM Mega Market Vietnam
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11.15 Saigon Union of Trading Cooperatives
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11.16 SPAR International
12 Appendix
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12.1 Scope of the report
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12.2 Inclusions and exclusions checklist
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12.3 Currency conversion rates for US$
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12.4 Research methodology
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12.5 List of abbreviations
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