Article -> Article Details
| Title | Vietnam Retail Market Size, Share and Growth Report 2033 |
|---|---|
| Category | Business --> Retail Trade |
| Meta Keywords | Vietnam Retail Market |
| Owner | Imarc |
| Description | |
Vietnam Retail Market OverviewThe Vietnam retail market size reached USD 298.2 Billion in 2024 and is projected to grow to USD 1,032.6 Billion by 2033, exhibiting a CAGR of 13.6% during 2025-2033. This growth is driven by population expansion, the entrance of global retailers, and the rise of modern retail formats such as supermarkets, malls, and e-commerce platforms improving shopping convenience and variety. Study Assumption Years
Vietnam Retail Market Key Takeaways
Sample Request Link: https://www.imarcgroup.com/Vietnam-Retail-Market/requestsample Market Growth FactorsVietnam’s growing population is a primary growth driver, projected to reach 106.7 million by July 2025 as per the United States Census Bureau. Increased birth rates and life expectancy are boosting household consumption in food, clothing, electronics, and personal care products. Urban migration fuels demand for supermarkets, malls, and convenience stores, while a younger, digitally adept population drives e-commerce and digital payments adoption. More middle-class households are increasing spending on premium and organic products, prompting retailers to expand store networks and improve supply chain efficiency. The participation of global retailers is expanding across Vietnam, bringing new shopping formats and elevating the retail experience. Major foreign brands invest in department stores, supermarkets, and online shopping platforms, intensifying competition and operational efficiency. This influx speeds up infrastructure improvements such as supply chains and logistics. In March 2024, the Tata Group subsidiary Titan Company launched a watch kiosk at Vincom Mega Mall in Ho Chi Minh City, exemplifying foreign investment's impact. Retail technologies like AI-based recommendations and self-checkouts are also improving convenience and customer satisfaction. The rise of modern retail formats is reshaping Vietnam’s retail landscape. The number of supermarkets and hypermarkets is growing, offering a broad range of fresh and packaged goods. Convenience stores are proliferating, catering to urban demand for ready-to-eat items and daily essentials. Shopping malls serve as lifestyle centers combining entertainment, dining, and international brands. E-commerce is transforming retail with online shopping and quick delivery options. Notably, Vietnam Post launched nongsan.buudien.vn, the country’s first e-commerce site for high-quality farm produce in December 2024, integrating local enterprises into the digital economy. Retailers are also leveraging omnichannel strategies, AI-powered tools, and digital payments to enhance customer engagement and retention. Market SegmentationProduct Insights:
Description: The product segmentation includes essential consumer goods categories such as food and beverages, personal and household care items, apparel and footwear, furniture and hobby products, electronic and household appliances, and other miscellaneous products. Distribution Channel Insights:
Description: The distribution channel segmentation covers major retail avenues including supermarkets and hypermarkets, convenience stores for quick urban purchases, specialty stores focusing on niche products, online stores facilitating e-commerce, and other miscellaneous channels. Regional Insights:
Description: The report segments the retail market regionally into northern, central, and southern Vietnam, providing localized market assessments and insights. Regional InsightsThe report identifies Northern Vietnam, Central Vietnam, and Southern Vietnam as key regional markets but does not specify which region is dominant or provide detailed statistics such as market shares or CAGRs by region. Summary: The Vietnam retail market is regionally segmented into northern, central, and southern areas. Specific dominant region data and regional statistics are not provided in the source. Recent Developments & NewsIn December 2024, South Korean retailer E-land announced plans to expand in Vietnam by opening 10 WhoAU stores in prime locations across Hanoi and Ho Chi Minh City in 2025. In October 2024, Samsung Vietnam inaugurated Samsung West Lake, a 367 square meter retail store at Lotte Mall West Lake in Hanoi. The store features four experience zones showcasing AI-powered devices like smartphones and home appliances, inspired by Hanoi's cultural heritage and seasonal changes. Key Players
Customization NoteIf you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization. About UsIMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research. Contact UsIMARC Group 134 N 4th St. Brooklyn, NY 11249, USA Email: sales@imarcgroup.com Tel No: (D) +91 120 433 0800 United States: +1-201971-6302 | |