Since the beginning of 2022, many retailers have expanded their supermarkets, distribution systems and new retail models, Hậu said, forecasting that Việt Nam's retail industry will continue to prosper in the coming years and is still one of the markets targeted by foreign investors. He said the increase in the number of young middle-class people who are also tech-savvy and discerning shoppers, along with the development of retail chains have paved the way for the development of the retail sector in Việt Nam.Īccording to Vũ Thị Hậu, Chairwoman of Vietnam Retailers Association, the local retail market has gradually recovered and regained its growth momentum after the pandemic was controlled.
This demonstrates the attractiveness of the domestic retail market, which is currently valued at $170 billion with a growth forecast of 10 per cent over the next five years, he said.
Majo George, an expert from RMIT University Vietnam, told baodautu.vn that Vietnamese brands have been expanding their own retail chains or acquiring foreign supermarket systems and then developing them. That laid a foundation for this firm to expand its distribution channel to 450,000 retail points in the future and promote e-commerce channels and increase exports, baodautu.vn reported.Īt the same time, NovaGroup opened its first 2,000sq.m Nova Supermarket in HCM City as part of its plan to expand to more than 2,000 points of sale in the next three years across the country. In July, Nova Consumer - a member of NovaGroup - completed the acquisition of Sunrise Foods. This year, it plans to open two hypermarkets in HCM City, one in Thủ Đức City’s Thủ Thiêm area in October and the other in Gò Vâp District in December. Vietnamese billionaire and THACO Group chairman Trần Bá Dương said his firm would expand its Emart supermarket chain so that by 2026, the chain aims to have 20 stores across the country and revenue of US$1 billion. HÀ NỘI - Large Vietnamese retailers are trying to expand their scale, exerting competitive pressure on foreign competitors to find opportunities in the retail sector.
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