The report presents a strategic assessment of “Vietnam Retail Sector Market” size analysis including enabling technologies, market drivers, challenges, standardization, and future roadmap of industry. The data includes historical and predicted values with an accurate picture of the growth of the Vietnam Retail Sector market. This research report also provides an in-depth analysis of market opportunities, import/export details, supply & demand scenario, pricing factors, and emerging trends. The report also discovering the geographic expansion, competitive landscape, segmentation, and revenue of the global industry.
Request a Sample Copy of the Report – https://www.industryresearch.co/enquiry/request-sample/14244340
Vietnam Retail Sector Market Manufacturer Segment Analysis:
For More Information or Query or Customization Before Buying, Visit at –https://www.industryresearch.co/enquiry/pre-order-enquiry/14244340
Key Market Trends:
Growth of Convenience Stores Market
In 2018, nearly 74.7% of the total market share went to retailing of products bought for use. Other sectors took up a share of the retail market, including accommodation, catering, and travel services.
The growth of modern trade (fast-moving consumer goods) has been greater than traditional retail, owing to broad factors, such as the growing economy, increasing urbanization, a younger population, and rising incomes.
Nearly 40% of the population of Vietnam is under 25 years of age, and their average income per capita has been growing at a rate of around 30% every couple of years.
This age bracket of consumers shows increasing confidence in spending patterns. In 2017, over 63% of Vietnam chose to use spare cash for savings, which was down from 76% in 2016. More consumers are spending on clothing, consumer electronics, vacations, and urban out-of-home entertainment.
The growing middle and affluent classes and the younger population value convenience and comfort. There is growth in the convenience store market, due to the expansion of companies, such as Circle K, which is expanding across Hanoi, and already has a strong foothold in Ho Chi Minh City.
The increasing presence of local players, such as Vinmart+, which has nearly 900 stores all over the country, and the recently introduced Bach Hoa Xanh by Mobile World, which plans to have about 1000 stores in Ho Chi Minh city, are helping expand the retail market of Vietnam.
The Food Retail Industry in Vietnam is Dominated by Traditional Retailers
Revenue in the food and beverage sector is expected to grow annually by 3.0% (2019-2024).
The food retail industry in Vietnam is dominated by traditional retailers. As of 2018, the traditional retailers accounted for 94% of the retail grocery sales, and the remaining 6% sales contributed to modern retail sales.
According to industry experts, modern retail sales are expected to reach 18% of the total food retail sales by 2024.
The highly-dominated food landscape of the country, with wet markets and small businesses, is witnessing tremendous growth in the concept of the modern retail trade, with a growing number of convenience stores, hypermarkets, and supermarkets.
Traditional retailers, with lower rental and operational costs, have flexibility with packaging sizes and competitive prices. These traditional stores are ideal for purchasing small quantities at higher frequencies, so that fresh produce can be obtained.
With more than half of the young population, the consumption of food and beverages in the country is witnessing huge growth. Also, as of 2016, the annual growth of the country’s population was 1.1%, which indicated an increase in customers, as food is an essential item.
According to GSO, the sales of food and foodstuffs increased by 11.1%, in 2017.
Reasons to Purchase this Report:
- Current and future global Vietnam Retail Sector market outlook in the developed and emerging markets.
- Analysing various perspectives of the market, with the help of Porter’s five forces analysis.
- The segment that is expected to dominate the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments and strategies employed by the major market players.
- 3-month analyst support along with the Market Estimate sheet (in excel).
Purchase this Report (Price 3250 USD for single user license) https://www.industryresearch.co/purchase/14244340
Key questions answered in the report:
- What is the growth potential of the Vietnam Retail Sector market?
- Which product segment will have the largest share?
- Which regional markets will lead in the coming years?
- Which application segment will grow strongly?
- What growth opportunities could arise in the Vietnam Retail Sector industry in the future?
- What are the greatest challenges for the Vietnam Retail Sector market in the future?
- Who is the leader in the Vietnam Retail Sector market?
- What are the main trends that have a positive impact on market growth?
- What growth strategies are players considering to stay in the Vietnam Retail Sector market?
Detailed TOC of Vietnam Retail Sector Market – Segmented by Geography – Growth, Trend, and Forecast:
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Research Methodology
2 SCOPE OF STUDY
3 MARKET INSIGHTS
3.1 Market Overview
3.2 Customer Behavior Analysis
3.3 Industry Attractiveness – Porter’s Five Forces Analysis
4 MARKET DYNAMICS
4.4 Industry Value Chain Analysis
5 TECHNOLOGY SNAPSHOT
6 MARKET SEGMENTATION
6.1 BY PRODUCT CATEGORY
6.1.1 Food and Beverage and Tobacco Products
6.1.2 Personal Care and Household
6.1.3 Apparel, Footwear, and Accessories
6.1.4 Furniture, Toys, and Hobby
6.1.5 Industrial and Automotive
6.1.6 Electronic and Household Appliances
6.1.7 Pharmaceuticals, Luxury Goods, and Other Products
7 INSIGHTS ON DISTRIBUTION CHANNELS IN RETAIL TRADE
7.1 Hypermarkets, Supermarkets, and Convenience Stores
7.2 Specialty Stores
7.3 Department Stores
7.4 E- commerce
7.5 Other Distribution Channels
8 COMPANY PROFILES
8.1 Saigon Co.op.
8.2 Central Group
8.4 Vin Group
8.5 Lotte Mart
8.8 Shop & Co.
8.10 Big C
9 INVESTMENT ANALYSIS OF THE VIETNAM RETAIL SECTOR
10 FUTURE OF THE VIETNAM RETAIL SECTOR
Name: Ajay More
Phone: US +14242530807/ UK +44 20 3239 8187
Email: [email protected]
Our Other Reports:
Thermal Management Products for Semiconduct Microchips Market Growth Opportunities by Evolving Technologies, Market Dynamics, Global Size, Industry Share Analysis by Key Players 2020 to 2026 Report by Industry Research.co