Retail in Vietnam

March 2023
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Overview:

Understand the latest market trends and future growth opportunities for the Retailing industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:

  • Convenience Stores
  • Discounters
  • Hypermarkets
  • Supermarkets
  • Traditional Grocery Retailers
  • Apparel and Footwear Specialist Retailers
  • Electronics and Appliance Specialist Retailers
  • Health and Beauty Specialist Retailers
  • Home and Garden Specialist Retailers
  • Department Stores
  • Variety Stores
  • Warehouse Clubs
  • Direct Selling
  • Homeshopping
  • Vending

If you're in the Retailing industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Retailing in Vietnam report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volume and value sizes, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent research methodology, conducted in-country

This report answers:

  • What is the market size of Retailing in Vietnam?
  • Which are the leading retailers in Retailing in Vietnam?
  • How are products distributed in Retailing in Vietnam?
  • How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
  • How significant are discounters and private label in Vietnam?
  • How has the impact of COVID-19 and national lockdown impacted consumer demand?
  • Which formats have benefited the most from stockpiling and enforced home seclusion?
  • How will the wider economic impact of COVID-19 shape the retail landscape in the future?
  • Where is future growth expected to be most dynamic?
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Retail in Vietnam

Retail in 2022: The big picture
Retail e-commerce continues to register strong performance
Chained pharmacies establish a stronger presence, alongside the expansion of other channels
Vietnam retail is projected to record positive performance over the forecast period
Informal retail
Opening hours for physical retail
Summary 1 Standard Opening Hours by Channel Type 2022
Seasonality
Vietnamese Lunar New Year (Tet)
Black Friday
Double Day
Table 1 Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2017-2022
Table 2 Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2017-2022
Table 3 Sales in Retail Offline by Channel: Value 2017-2022
Table 4 Sales in Retail Offline by Channel: % Value Growth 2017-2022
Table 5 Retail Offline Outlets by Channel: Units 2017-2022
Table 6 Retail Offline Outlets by Channel: % Unit Growth 2017-2022
Table 7 Sales in Retail E-Commerce by Product: Value 2017-2022
Table 8 Sales in Retail E-Commerce by Product: % Value Growth 2017-2022
Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2017-2022
Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 11 Sales in Grocery Retailers by Channel: Value 2017-2022
Table 12 Sales in Grocery Retailers by Channel: % Value Growth 2017-2022
Table 13 Grocery Retailers Outlets by Channel: Units 2017-2022
Table 14 Grocery Retailers Outlets by Channel: % Unit Growth 2017-2022
Table 15 Non-Grocery Retailers: Value Sales, Outlets and Selling Space 2017-2022
Table 16 Non-Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 17 Sales in Non-Grocery Retailers by Channel: Value 2017-2022
Table 18 Sales in Non-Grocery Retailers by Channel: % Value Growth 2017-2022
Table 19 Non-Grocery Retailers Outlets by Channel: Units 2017-2022
Table 20 Non-Grocery Retailers Outlets by Channel: % Unit Growth 2017-2022
Table 21 Retail GBO Company Shares: % Value 2018-2022
Table 22 Retail GBN Brand Shares: % Value 2019-2022
Table 23 Retail Offline GBO Company Shares: % Value 2018-2022
Table 24 Retail Offline GBN Brand Shares: % Value 2019-2022
Table 25 Retail Offline LBN Brand Shares: Outlets 2019-2022
Table 26 Retail E-Commerce GBO Company Shares: % Value 2018-2022
Table 27 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
Table 28 Grocery Retailers GBO Company Shares: % Value 2018-2022
Table 29 Grocery Retailers GBN Brand Shares: % Value 2019-2022
Table 30 Grocery Retailers LBN Brand Shares: Outlets 2019-2022
Table 31 Non-Grocery Retailers GBO Company Shares: % Value 2018-2022
Table 32 Non-Grocery Retailers GBN Brand Shares: % Value 2019-2022
Table 33 Non-Grocery Retailers LBN Brand Shares: Outlets 2019-2022
Table 34 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2022-2027
Table 35 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2022-2027
Table 36 Forecast Sales in Retail Offline by Channel: Value 2022-2027
Table 37 Forecast Sales in Retail Offline by Channel: % Value Growth 2022-2027
Table 38 Forecast Retail Offline Outlets by Channel: Units 2022-2027
Table 39 Forecast Retail Offline Outlets by Channel: % Unit Growth 2022-2027
Table 40 Forecast Sales in Retail E-Commerce by Product: Value 2022-2027
Table 41 Forecast Sales in Retail E-Commerce by Product: % Value Growth 2022-2027
Table 42 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 43 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 44 Forecast Sales in Grocery Retailers by Channel: Value 2022-2027
Table 45 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2022-2027
Table 46 Forecast Grocery Retailers Outlets by Channel: Units 2022-2027
Table 47 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2022-2027
Table 48 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 49 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 50 Forecast Sales in Non-Grocery Retailers by Channel: Value 2022-2027
Table 51 Forecast Sales in Non-Grocery Retailers by Channel: % Value Growth 2022-2027
Table 52 Forecast Non-Grocery Retailers Outlets by Channel: Units 2022-2027
Table 53 Forecast Non-Grocery Retailers Outlets by Channel: % Unit Growth 2022-2027

DISCLAIMER

Summary 2 Research Sources

Convenience Retailers in Vietnam

KEY DATA FINDINGS

Convenience stores continue to see increasing popularity among Vietnamese consumers
Players continue to introduce new ready-to-eat food and food/drink combo offers to attract consumers’ attention
Players start to pay more attention to membership and loyalty programmes
Convenience stores expected to record ongoing positive growth, as the channel’s offers adapt to consumers’ fast-paced lifestyles
Convenient retail options expected to extend their presence outside of Ho Chi Minh city
Forecourt retail will remain negligible in Vietnam
Table 54 Convenience Retailers: Value Sales, Outlets and Selling Space 2017-2022
Table 55 Convenience Retailers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 56 Sales in Convenience Retailers by Channel: Value 2017-2022
Table 57 Sales in Convenience Retailers by Channel: % Value Growth 2017-2022
Table 58 Convenience Retailers GBO Company Shares: % Value 2018-2022
Table 59 Convenience Retailers GBN Brand Shares: % Value 2019-2022
Table 60 Convenience Retailers LBN Brand Shares: Outlets 2019-2022
Table 61 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 62 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 63 Forecast Sales in Convenience Retailers by Channel: Value 2022-2027
Table 64 Forecast Sales in Convenience Retailers by Channel: % Value Growth 2022-2027

Supermarkets in Vietnam

KEY DATA FINDINGS

Supermarkets records ongoing positive sales and continues to show strong competition to hypermarkets
AEON Vietnam Co launches new brand of supermarkets
Mobile World JSC halts its expansion plans and closes hundreds of Bach Hoa Xanh stores
Supermarkets set to see ongoing positive performance, further supported by developments in private label
The outlet expansion of mini supermarkets will witness a slowdown in growth, as the sub-channel becomes more mature
Supermarkets players are projected to increase sales via retail e-commerce
Table 65 Supermarkets: Value Sales, Outlets and Selling Space 2017-2022
Table 66 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 67 Supermarkets GBO Company Shares: % Value 2018-2022
Table 68 Supermarkets GBN Brand Shares: % Value 2019-2022
Table 69 Supermarkets LBN Brand Shares: Outlets 2019-2022
Table 70 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 71 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

Hypermarkets in Vietnam

KEY DATA FINDINGS

The number of hypermarkets outlets increase in 2022, in line with recovery from the pandemic era
Central Retail Corp continues its rebranding efforts, from Big C to Go! and Tops Market
E-Mart establishes a stronger presence with the opening more outlets following acquisition by THACO
Hypermarkets is expected to record positive growth over the forecast period
Players will continue to adopt omnichannel strategies over the forecast period
More intense competition from supermarkets expected, as players focus on a “leisure and shopping” angle to stay relevant
Table 72 Hypermarkets: Value Sales, Outlets and Selling Space 2017-2022
Table 73 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 74 Hypermarkets GBO Company Shares: % Value 2018-2022
Table 75 Hypermarkets GBN Brand Shares: % Value 2019-2022
Table 76 Hypermarkets LBN Brand Shares: Outlets 2019-2022
Table 77 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 78 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

Small Local Grocers in Vietnam

KEY DATA FINDINGS

End of pandemic restrictions heralds good news and the start of recovery for small local grocers
Chained grocery stores face strong competition from growth of convenience stores, thus players seek new strategies
Small local grocers improve hygiene and service to compete with modern grocers
Small local grocers are projected to record a stable performance
Small local grocers will remain fragmented due to high independent ownership and little interest from companies due to low margins
Small local grocers will see stronger competition from various grocery retailers over the forecast period
Table 79 Small Local Grocers: Value Sales, Outlets and Selling Space 2017-2022
Table 80 Small Local Grocers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 81 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 82 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

General Merchandise Stores in Vietnam

KEY DATA FINDINGS

Pandemic challenges and outdated image force department store Parkson to close outlets
Chained variety stores establish a stronger presence via the franchise business model
AEON Vietnam Co Ltd maintains its robust lead in general merchandise stores
A positive outlook ahead for general merchandise stores
General merchandise stores are expected to face stronger competition from other channels
Little interest from new players in general merchandise stores
Table 83 General Merchandise Stores: Value Sales, Outlets and Selling Space 2017-2022
Table 84 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 85 Sales in General Merchandise Stores by Channel: Value 2017-2022
Table 86 Sales in General Merchandise Stores by Channel: % Value Growth 2017-2022
Table 87 General Merchandise Stores GBO Company Shares: % Value 2018-2022
Table 88 General Merchandise Stores GBN Brand Shares: % Value 2019-2022
Table 89 General Merchandise Stores LBN Brand Shares: Outlets 2019-2022
Table 90 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 91 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 92 Forecast Sales in General Merchandise Stores by Channel: Value 2022-2027
Table 93 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2022-2027

Apparel and Footwear Specialists in Vietnam

KEY DATA FINDINGS

Apparel and footwear specialists bounce back in 2022 following the end of pandemic restrictions
Local brands face stronger competition from international brands
E-commerce poses potential threat to the development of apparel and footwear specialists
Apparel and footwear specialists face both opportunities and challenges
Players will be more cautious about expansion in their numbers of physical outlets and will focus on online and omnichannel offers
Chained international apparel and footwear specialists projected to show a stronger presence
Table 94 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 95 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 96 Apparel and Footwear Specialists GBO Company Shares: % Value 2018-2022
Table 97 Apparel and Footwear Specialists GBN Brand Shares: % Value 2019-2022
Table 98 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2019-2022
Table 99 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 100 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

Appliances and Electronics Specialists in Vietnam

KEY DATA FINDINGS

The number of outlets continue to expand, as players reach the outskirts of both large and small cities
Rising popularity of super-mini stores, driven by expansion from Mobile World
Developments in e-commerce may slow down sales in physical stores
A positive outlook is expected over the forecast period
Appliances and electronics specialists are expected to establish stronger presence in retail
Potential ongoing threats from e-commerce will continue
Table 101 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 102 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 103 Appliances and Electronics Specialists GBO Company Shares: % Value 2018-2022
Table 104 Appliances and Electronics Specialists GBN Brand Shares: % Value 2019-2022
Table 105 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2019-2022
Table 106 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 107 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

Home Products Specialists in Vietnam

KEY DATA FINDINGS

Home products specialists bounces back after the lifting of pandemic restrictions
Home products specialists remains highly fragmented with independent stores
Consumers slow to adopt the habit of purchasing home products online
Both opportunities and challenges lie ahead for home products specialist
Omnichannel trends expected to ramp up over the forecast period
Players will increase their livestreaming activities to boost sales
Table 108 Home Products Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 109 Home Products Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 110 Sales in Home Products Specialists by Channel: Value 2017-2022
Table 111 Sales in Home Products Specialists by Channel: % Value Growth 2017-2022
Table 112 Home Products Specialists GBO Company Shares: % Value 2018-2022
Table 113 Home Products Specialists GBN Brand Shares: % Value 2019-2022
Table 114 Home Products Specialists LBN Brand Shares: Outlets 2019-2022
Table 115 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 116 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 117 Forecast Sales in Home Products Specialists by Channel: Value 2022-2027
Table 118 Forecast Sales in Home Products Specialists by Channel: % Value Growth 2022-2027

Health and Beauty Specialists in Vietnam

KEY DATA FINDINGS

Chained health and beauty stores continue their expansion plans post-pandemic
E-commerce poses potential threat to the expansion of chained beauty specialist and optical stores
Chained pharmacies record increasing investment from key players
Health and beauty specialists set to see positive sales over the forecast period
Chained pharmacies expected to develop a stronger presence over the forecast period
Retail e-commerce poses a potential threat to physical store expansion
Table 119 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 120 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 121 Sales in Health and Beauty Specialists by Channel: Value 2017-2022
Table 122 Sales in Health and Beauty Specialists by Channel: % Value Growth 2017-2022
Table 123 Health and Beauty Specialists GBO Company Shares: % Value 2018-2022
Table 124 Health and Beauty Specialists GBN Brand Shares: % Value 2019-2022
Table 125 Health and Beauty Specialists LBN Brand Shares: Outlets 2019-2022
Table 126 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 127 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 128 Forecast Sales in Health and Beauty Specialists by Channel: Value 2022-2027
Table 129 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2022-2027

Direct Selling in Vietnam

KEY DATA FINDINGS

Direct selling able to maintain sales throughout the pandemic and see a further boost in 2022
Ministry of Trade and Industry continues its efforts to make direct selling a transparent and healthy industry in Vietnam
Herbalife leads sales, despite higher-than-average prices
Direct selling is expected to grow in term of value sales, although the number of sellers will stay small
Consumer health will continue to account for the lion’s share of direct selling
Little potential for food and drink direct selling in Vietnam, but consumer appliances is one area to watch
Table 130 Direct Selling by Product: Value 2017-2022
Table 131 Direct Selling by Product: % Value Growth 2017-2022
Table 132 Direct Selling GBO Company Shares: % Value 2018-2022
Table 133 Direct Selling GBN Brand Shares: % Value 2019-2022
Table 134 Direct Selling Forecasts by Product: Value 2022-2027
Table 135 Direct Selling Forecasts by Product: % Value Growth 2022-2027

Retail E-Commerce in Vietnam

KEY DATA FINDINGS

Retail e-commerce continues to record strong growth in 2022
Increasing sales seen in B2C online marketplaces
Rising trend of omnichannel players boosts sales in retail e-commerce
A positive outlook for retail e-commerce over the forecast period
More intense competition expected between retail e-commerce marketplace players
Small players in various industries are expected join retail e-commerce marketplace platforms
Table 136 Retail E-Commerce by Channel: Value 2017-2022
Table 137 Retail E-Commerce by Channel: % Value Growth 2017-2022
Table 138 Retail E-Commerce by Product: Value 2017-2022
Table 139 Retail E-Commerce by Product: % Value Growth 2017-2022
Table 140 Retail E-Commerce GBO Company Shares: % Value 2018-2022
Table 141 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
Table 142 Forecast Retail E-Commerce by Channel: Value 2022-2027
Table 143 Forecast Retail E-Commerce by Channel: % Value Growth 2022-2027
Table 144 Forecast Retail E-Commerce by Product: Value 2022-2027
Table 145 Forecast Retail E-Commerce by Product: % Value Growth 2022-2027
The following categories and subcategories are included:

Retailing

      • Fashion Vending
      • Health and Beauty Vending
      • Appliances and Electronics Vending
        • Alcoholic Drinks Vending
        • Hot Drinks Vending
        • Soft Drinks Vending
        • Tobacco Products Vending
      • Foods Vending
      • Home Products Vending
      • Other Products Vending
        • Apparel and Footwear Direct Selling
        • Personal Accessories Direct Selling
        • Eyewear Direct Selling
        • Beauty and Personal Care Direct Selling
        • Consumer Health Direct Selling
        • Tissue and Hygiene Direct Selling
        • Consumer Appliances Direct Selling
        • Consumer Electronics Direct Selling
        • Toys and Games Direct Selling
      • Drinks and Tobacco Direct Selling
      • Foods Direct Selling
        • Home Care Direct Selling
        • Home and Garden Direct Selling
        • Pet Care Direct Selling
      • Other Products Direct Selling
        • Apparel and Footwear E-Commerce
        • Personal Accessories E-Commerce
        • Eyewear E-Commerce
        • Beauty and Personal Care E-Commerce
        • Consumer Health E-Commerce
        • Tissue and Hygiene E-Commerce
        • Consumer Appliances E-Commerce
        • Consumer Electronics E-Commerce
        • Toys and Games E-Commerce
      • Drinks and Tobacco E-Commerce
      • Foods E-Commerce
        • Home Care E-Commerce
        • Home and Garden E-Commerce
        • Pet Care E-Commerce
      • Other Products E-Commerce
        • First-Party (1P) Marketplace E-Commerce
        • Third-Party (3P) Marketplace E-Commerce
      • Grocery E-Commerce
      • General Merchandiser E-Commerce
      • Apparel and Footwear Specialist E-Commerce
      • Appliances and Electronics Specialist E-Commerce
      • Home Products Specialist E-Commerce
      • Health and Beauty Specialist E-Commerce
      • Leisure and Personal Goods Specialist E-Commerce
      • Other E-Commerce Retailers

Retailing

Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, and wholesale sales (e.g. Cash and Carry). Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.

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