VN still among global top 30 emerging retail markets
VN still among global top 30 emerging retail markets
For the eighth consecutive year, Viet Nam has been listed among the world's top 30 attractive emerging retail markets, according to the ranking in the Global Retail Development Index of the US's AT Kearney Company.
In addition, a most recent survey from Nielsen, a global information and measurement company, showed that 34 per cent of consumers regularly shop at hypermarkets, 29 per cent in supermarkets and 22 per cent at convenience stores and mini marts.
The survey said that large retailers and an increasing portion of young population — with 60 per cent of the population under 35 years — the modern retail model continues to show a strong annual growth rate.
Saigon Coop continued to lead in sales and number of stores in the country. According to ACB Securities Company (ACBS) — with three retail store chains of Co.opXtra, Co-op Mart and Supermarket Food Co-op mini — Saigon Co-op has now 178 stores, reaching the sale of VND25 trillion (more than US$10.1 million) in 2015.
The survey also added that the model of convenience stores and mini marts was expected to develop in the future. Currently, convenience stores and mini-marts are the retail economy's fastest growing segment. For example, Vingroup chain of mini store Vinmart+ recoded 825 stores at the end of the June 2016, while its rival Shop & Go had 210 stores, Circle K 178, B's Mart (formerly Family Mart) 146 stores, Satrafoods 80 stores and Ministop 58 stores respectively.
According to the Ministry of Industry and Trade, by 2020 Viet Nam will have between 1,200 and 1,300 hypermarkets / supermarkets and 337 trade centres. The ministry said despite a low urbanisation rate and GDP per capita, GDP still encouraged traditional retailers of wet markets with the rate of 72 per cent. However, the rate could reduce by 60 per cent by 2020.
