Foreign brands to boost Vietnam’s retail market

Rapid urban development and growing usage of foreign brands will enable Vietnam’s retail market to achieve a CAGR of around 23% during 2011-2014, says RNCOS in its latest research report.

According to our recent report “Vietnam Retail Market Forecast to 2014”, Vietnam is one of the five most lucrative retail markets in the world. Vietnam’s retail sector has shown strong growth and buoyant expansion compared to its neighbors, such as India and China, despite its comparatively small size in terms of Asia’s developing economies. Although the market is still fragmented and underdeveloped, the traditional retail accounts for maximum share of the retail market. Rapid urbanization leading to changes in the habit of shopping among local consumers is offering ample business opportunities for local and international retailers. Consequently, we anticipate that, the retail sales will grow at a CAGR of around 23% during the forecast period (2011-2014).

According to our study, Vietnam’s geographic proximity to key markets, such as India and China and developing markets, such as Laos and Cambodia has helped the country in attracting many distributors and retailers as they plan to expand globally. Companies, such as Tesco, Carrefour, and Wal-Mart are all showing interest in this attractive market. Besides, many companies from France, Japan and Korea are quickly establishing their business in Vietnam.

Further, non-food retailing has made the nation a lucrative destination for multinational retailers. With the rising interest in western style shopping among people, a large number of modern shopping complexes have emerged in the key urban centers, thereby attracting affluent urbanites. Apart from this trend, several other strong fundamental drivers discussed and analyzed in the report will enable this market to continue its upward growth trend in near future.

Our report “Vietnam Retail Market Forecast to 2014”, provides detail analysis on Vietnam retail sector. The report covers all the necessary aspects of the retail market, like market by segments, provinces, ownership, and retail formats to present an insight into the market trends and changes taking place across the country. The report provides an insight of consumer behavior pattern, latest industry trends, key industry hurdles, and major players. Our research report will help consultants, industry analysts, and vendors to get an in-depth knowledge of the current, past, and future performance of the retail market.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM337.htm

Tags: vietnam retail industry, Vietnam retail market