Vietnam’s economic downturn and lower consumption have not stopped retailers from moving into Hanoi’s three newest shopping centres. Richard Leech, executive director of CBRE Vietnam, told Vietnam Investment Review’s reporter that since opening in the final quarter of 2011, Parkson Keangnam and Vincom Centre Long Bien have been fully occupied, while Savico Mega Mall has [...]
Global retailers operating in Vietnam, including Big C of France and Lotte Mart of the Republic of Korea, have increased the volume of Vietnamese products being shipped to their supermarket locations worldwide. Big C Vietnam, a subsidiary of Casino Group, reported that the company has annually shipped 1,000 containers of Vietnamese goods worth more than [...]
Viet Nam’s retail sector seems relatively sheltered from the global economic meltdown, with 120 supermarket outlets and shopping malls set to open this year, double the number as last year. Vinatextmart will lead the list with 43 of them. Co.opmart will open 12 outlets and 18 of its Co.opfood shops. After covering HCM City with [...]
Vietnam’s retail market is becoming less attractive, with its global ranking downgrade to 23rd place in the 2011 Global Retail Development Index (GRDI) released by A.T. Kearney. This is the third consecutive year Vietnam’s retail market has lost its attractiveness, sliding down from its first position in 2008 to 6th in 2009 and 14th in [...]
The retail space rental in trade centres of HCM City in 2012 is expected to fall further according to the downward trend of 2011 because of oversupply. In the last three months of 2011, HCM City had extra tens of thousands of square meters of retail area, which was seen as one of reasons that [...]
While supermarkets have been unceasingly expanding, traditional markets have been narrowed, while many small merchants have given up business. Supermarkets expanding The Vietnamese retail market is considered a fertile land for investors. It is expected that from now to 2015, the growth rate in the retail market would maintain at 23-25 percent per annum, while [...]
Vietnam is estimated to collect VND191 trillion from retail and services sector in Jan 2012, up 3.2% from December 2011 and up 22% on year, the Ministry of Industry and Trade (MoIT) said. Buying demand for the Lunar New Year holiday this year is low compared with the same period previous years, the MoIT said, [...]
Many domestic businesses are opening more store chains to retain market positioning in the face of mounting competition of foreign retailers. Nguyen Kim, a retailer of electronics and home appliances, spent hundreds of billion of Vietnamese dong (VND) to open five shopping centres in HCM City, Danang city and Vung Tau and Bien Hoa provinces [...]
Since the sales have been slowing down, home appliance distributors have been marching towards the suburbs or attacking the niche markets in order to avoid the increasingly fierce competition. Preliminary statistics show that by the end of December 2011, home appliance distribution had had the growth rate of less than 10 percent. A lot of [...]
Though the national economy has experienced a very difficult year, the retail market in 2011 still grew well with the total revenue of 90 billion dollars, making up 15-16 percent of Vietnam’s GDP. The demand rescued the market The Ministry of Industry and Trade has estimated that the total retail turnover in 2011 reached 1994 [...]
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