The Hanoitimes - "The digital lifestyle has played a vital role in the rapid growth of the country`s developments in its economy, infrastructure, and education, and this has resulted in increased domestic household income," said Philippe Broianigo, CEO of Central Group Vietnam and Big C Vietnam. Central Group, Thailand's largest retail conglomerate, has plans to invest an additional of US$500 million in Vietnam's retail market in the next five years, Thailand's The Nation newspaper reported. Illustrative photo. “We (Central Group) have already invested US$1.5 billion in Vietnam since 2012 and plan to invest another US$500 million in the next five years, from 2018 to 2022. Store penetration year to date in total is 250 stores nationwide and we plan to reach 720 stores in the next five years, or by 2022,” Broianigo said in a press conference in Bangkok on August 22. He said that the company's employees in Vietnam now number more than 17,000, … [Read more...] about Central Group to invest US$500 million more in Vietnam retail market
Retail marketers
HCM City works to boost retail market
Consumers shop at a supermarket (Photo: VNA) HCM City (VNA) – Ho Chi Minh City’s total retail and service revenue in the first six months of 2018 is estimated at 502.55 trillion VND (22.11 billion USD), up 11.7 percent over the same period last year. According to the Ho Chi Minh City Department of Industry and Trade, the city currently has 239 traditional markets, 209 super markets, 42 trade centres and 1,609 convenience stores. The domestic retail market has continued its stable development trend with last year’s revenue expanding 10.9 percent. The strong growth of the retail market is creating big chances for domestic production, trading and supply firms. Nguyen Anh Duc, Deputy General Director of the Saigon Co.op said that recently, the firm has partnered with Singapore’s NTUC Fair Price to launch a convenience store chain called Cheers that opens 24 hours a day to meet the demand of customers. Duc added that 50 Cheers shops are expected to be opened … [Read more...] about HCM City works to boost retail market
HCMC retail market grows strongly
HCMC retail market grows strongly Customers are seen shopping at a Co.opmart supermarket in HCMC. The HCMC retail market has grown strongly in the year's first half - PHOTO: THANH HOA HCMC - Goods retail sales in HCMC in the first half of the year are expected to grow 13% year-on-year to an estimated VND329 trillion (US$14.4 billion), accounting for over 65% of the city’s total goods and service retail revenue, Phap Luat newspaper cited a report by the municipal Department of Industry and Trade. The strong growth of the city’s retail market has created numerous opportunities for local producers and suppliers. Nguyen Phuong Dong, deputy director of the HCMC Department of Industry and Trade, said this year to date has not seen goods scarcity and price surge, except for the pork price that has increased to VND40,000-45,000 per kilogram over the past two months as farmers have scaled down pig farming. The department has implemented a price stability program and a … [Read more...] about HCMC retail market grows strongly
Ho Chi Minh City’s retail market thrives
The municipal Department of Industry and Trade said on June 5 that the robust development of the local retail market has created opportunities for domestic producers and suppliers. The market has been rather stable and there is no scarcity of products or price shocks during the January-June, said Nguyen Phuong Dong, vice director of the department. Along with the price stabilisation programmes, the department launched the “Vietnamese people prioritise Vietnamese goods” campaign in which products must ensure food quality, safety and hygiene. The event drew the participation of 90 organisations, including 78 businesses and 12 credit organisations. Loans worth 19.65 trillion VND (865.6 million USD) in total were offered to businesses joining in the price stabilisation programmes in the city. Since the outset of the year, the southern largest economic hub has accelerated brand building, and improved prestige for the programmes in general and local businesses in … [Read more...] about Ho Chi Minh City’s retail market thrives
Retail market challenges domestic businesses
(VEN) - To boost Vietnam’s potential as a retail market for foreign investors, domestic retailers need to formulate appropriate investment strategies to enhance their competitiveness. Domestic retailers should bring into play their own advantages and concentrate on developing niche markets Potential market According to Dr. Dinh Thi My Loan, President of the Vietnam Retailers Association, total retail sales of goods and revenue from services grew steadily in the past 10 years. The total reached US$88 billion in 2010 and increased to US$146 billion in 2015 and US$158 billion in 2016. Domestic retailers have strived to withstand the competition with foreign rivals by expanding sales networks and promoting online retailing in order to enhance their competitiveness. Successful examples include Vinmart, Hapro and Co.opmart. Pham Dinh Doan, Chairman of the Phu Thai Group, said retail trade is expected to grow 11.9 percent annually in the 2016-2020 period and reach … [Read more...] about Retail market challenges domestic businesses