The E-Commerce and Digital Economy Agency''s report showed the revenue of products sold through online business-to-consumer (B2C) retail model increased from $10.8 billion in 2018 to $20.5 billion last year.
Việt Nam''s retail market has a scale of more than US$142 billion, 16 per cent of which comes from e-commerce. This scale is forecast to increase to $350 billion, or nearly 2.5 times higher, by 2025.
"Vietnamese retail market grew about 100 times in the past 20 years. It is an attractive business destination with a high portion of the young population, who love Korean food, K-pop and K-drama," a Lotte Shopping official said, as cited...
Although 2023 is forecast to see many difficulties, experts expect it will be a recovery year for the retail sector after the COVID-19 pandemic as there are many signs showing the return of investors and higher demand.
The HCM City commercial property market has returned to its growth trajectory from before the COVID-19 pandemic thanks to the retail and services sector as well as increasing number of foreign visitors to the city, experts said.
Central Retail will invest VND20 trillion (US$869.6 million) in the Vietnamese retail market in the next five years to boost business results to VND65 trillion.
Viet Nam''s retail market has recently recorded strong growth and its excitement is also reflected via the successful deals of injecting capital from foreign investors into potential domestic retailers.
Foreign retail businesses are adopting a multi-channel sales strategy as well as improved operations and delivery services to expand Viet Nam operations despite pandemic impacts.
Shinhan Securities Vietnam (SSV) has increased its charter capital from US$35 million to nearly US$87 million. This will be a strong motivation for the company to conquer the retail market in Viet Nam.
Viet Nam’s retail market is becoming a magnet for investors thanks to such favourable conditions as political stability, transparent capital control and large market size.
Viet Nam’s retail sector was growing quite quickly, with a market size of US$180 billion within the next three years. This would also be an opportunity for fast-moving consumer goods (FMCG) and food products from many Vietnamese startups.