Shoppers prefer modern retail formats
Shoppers prefer modern retail formats
One-third of the Vietnamese consumers (34 per cent) love shopping at hypermarkets, supermarkets, and other modern channels, according to the latest Future of Grocery Report prepared by Nielsen.
The report is based on an online survey of more than 30,000 respondents across 60 countries in Asia-Pacific, Europe, Latin America, the Middle East, as well as Africa and North America. The survey was held to examine how modern and digital shopping channels have been changing the retail market scene.
According to the report, 42 per cent consumers in the Philippines have made purchases at supermarkets more often in the past 12 months.
The report also highlights the growing importance of convenience stores as another modern retail format for consumers to buy foods and groceries. More than one-fourth of the consumers in the Philippines shopped for foods and groceries at convenience stores more often last year. The figures in other regions are: 22 per cent in Viet Nam, 21 per cent in Thailand, 15 per cent in Indonesia, and 14 per cent globally.
Kaushal Upadhyay, Nielsen's executive director of client service in Southeast Asia, North Asia, and Pacific, said supermarkets and hypermarkets have already been dominant in developed countries and will attract more consumers in developing countries in Southeast Asia. However, smaller stores have also gained a considerable market share, he noted.
He added that it means producers should understand where and what consumers are shopping. Producers should consider goods distribution based on the combination of both channels.
In addition, the report also revealed that online shopping has been an important way for retailers to integrate digital channels with shopping experience. Some 28 per cent of the Vietnamese consumers shopped online, while the global figure for the same was 25 per cent.
Products such as body wash, shampoos, and conditioners were popular items shopped online by Vietnamese consumers, according to the survey that was conducted between August 13 and September 5 last year.
Vu Vinh Phu, chairman of Ha Noi's Supermarket Association, told online newspaper vnexpress that smaller stores still have their advantages as customers can make a quick buy because of their proximity.
Phu remarked that these stores can compete with modern shopping channels by offering professional services and good quality products at competitive prices.
Some 80 per cent of the time, the future of these stores depends on their owners, who must develop their own brand names and services.
Statistics from the Ministry of Industry and Trade shows that by the middle of 2014, the country had 724 supermarkets, 132 commercial centres, more than 400 convenience stores and 1 million small shops. Modern retail channels accounted for 25 per cent of the market share, much lower than that in other countries in the region.
The country is expected to have 1,200 to 1,300 supermarkets and 337 commercial centres by 2020.
