Rural market offers good opportunities for retail
Vietnam’s retail market will continue to grow strongly this year, with lots of opportunities to develop modern retail systems in rural areas, according to Phan Lan Chi, deputy director of supermarket chain Lan Chi Mart.
The Nielsen market research company reported the demand for consumer products has continued to increase sharply in Vietnamese rural areas with purchasing power of more than 20 billion USD per year.
Many businesses have shifted investment to building supermarket chains and convenience stores in rural residential areas.
Vingroup, for example, has opened more than 1,500 Vinmart+ convenience stores across 30 cities and provinces since March 2017.
In the northern region, Lan Chi Mart has expanded its distribution system in rural areas with 25 supermarkets in suburban areas of Hanoi and some provinces.
After 11 years of investing in supermarkets and Hapromart convenience stores, the retail network of Hanoi Trade Corporation (Hapro) has reached Thai Binh, Quang Ninh and Thanh Hoa provinces, in addition to Hanoi.
Residents in Hanoi’s suburban areas such as Thuong Tin, Dan Phuong, Hoai Duc, Phuc Tho, Thanh Oai and Chuong My districts have said the presence of Lan Chi Mart, Vinmart and Hapromart has enabled them to buy various kinds of high quality products.
Director of the Northern Region Nielsen Vietnam Dang Thuy Ha said apart from ensuring the quality of products, an important factor to attract rural customers is reasonable prices.
To develop the market in suburban areas, the Hanoi Department of Industry and trade has mobilised enterprises to organise about 200 mobile sales trips to remote districts, communes and industrial parks.