Vietnam is estimated to be one of the most attracting retail markets in the world, however modern distribution channels such as supermarkets, convenience stores and commerce centers have gradually fallen into foreign firms who have held up to 53 percent revenue.
Many foreign investors said that electronics and refrigeration retail market in Vietnam has not been exploited yet and the country’s consumption of electronic and refrigeration appliances will rise from 7.3 percent to 11.9 percent by 2020.
Vietnamese Vingroup’s acquisition of 100 percent stakes of Maximark chain at the end of October has heated up retail market. The deal is said an affirmation that the retail market has leaned to investors with strong financial ability not only experienced foreign giants.
The 2015 scheduled establishment of ASEAN Economic Community (AEC) together with the implementation of World Trade Organization (WTO) commitments and other bilateral and multilateral free trade agreements will completely help Vietnam’s retail market to go out the restriction, putting local businesses in a face to face competition to foreign giants.
The retail market in Ho Chi Minh City is getting set for major realignments as many of the world’s leading retailers in the food, beverage, and fashion industries formulate expansion plans to set up shop, radio The Voice of Vietnam (VOV) reported.