Vietnam retail market size to grow by USD 163.49 billion from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics

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Vietnam retail market size to grow by USD 163.49 billion from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics

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. Market growth momentum will accelerate at a CAGR rate of 11.4%.

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Technavio has announced its latest market research report titled Vietnam Retail Market 2023-2027

Discover some insights on market size before buying the full report – Request a sample
report

Retail market in Vietnam – Vendor analysis

Vendor offerings –

  • 7-Eleven Inc. – The company offers retail services through its 7-Eleven Stores.

  • AEON CO. Ltd. – The company offers retail services through its Supermarkets business and General Merchandise stores.

  • Berli Jucker Public Co. Ltd. – The company offers retail services through Big C Supercenter.

  • Central Group of Company – The company offers retail services such as department stores, lifestyle centers, and lifestyle and fashion brands.

  • For details on vendors and their offerings – Buy the report!

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 landscape
To help companies evaluate and develop growth strategies, the report outlines –

Retail Market In Vietnam – Segmentation assessment

Segment overview
Technavio 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).

  • 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.

Download a sample report

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.

Drivers, trends, and challenges have an impact on market dynamics, which can impact
businesses. Find some insights from a sample report!

What are the key data covered in this retail market in Vietnam report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the retail market in Vietnam between 2023 and 2027

  • Precise estimation of the size of the retail market in Vietnam and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • A thorough analysis of the market’s competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of the retail market in Vietnam vendors

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The size of the retail market in Indonesia is expected to increase by USD 44.13 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.6%. Furthermore, this report extensively covers the retail market in Indonesia segmentation by product (food and beverages, electrical and electronics, apparel and footwear, home improvement and household products, and others) and distribution channel (offline and online).

Retail Market In Vietnam Scope

Report Coverage

Details

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Page number

129

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 11.4%

Market growth 2023-2027

USD 163.49 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

10.68

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

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

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio’s consumer discretionary market reports

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Distribution Channel

7 Market Segmentation by Type

8 Customer Landscape

9 Drivers, Challenges, and Trends

10 Vendor Landscape

11 Vendor Analysis

12 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

Vietnam Retail Market 2023-2027

Vietnam Retail Market 2023-2027

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