Retailing in Vietnam

Retailing in Vietnam

EXECUTIVE SUMMARY

COVID-19 impact on retailing

COVID-19 country impact

Omnichannel strategy is key to success for the big players

VinGroup exits Vietnamese retailing while Central Group acquires Nguyen Kim

What next for retailing?

OPERATING ENVIRONMENT

Informal retailing

Opening hours

Summary 1 Standard Opening Hours by Channel Type 2020

Physical retail landscape

Cash and carry

Seasonality

Vietnamese Lunar New Year (Tet)
Black Friday

Payments and delivery

Emerging business models

MARKET DATA

Table 1 Sales in Retailing by Store-based vs Non-Store: Value 2015-2020
Table 2 Sales in Retailing by Store-based vs Non-Store: % Value Growth 2015-2020
Table 3 Sales in Store-based Retailing by Channel: Value 2015-2020
Table 4 Sales in Store-based Retailing by Channel: % Value Growth 2015-2020
Table 5 Store-based Retailing Outlets by Channel: Units 2015-2020
Table 6 Store-based Retailing Outlets by Channel: % Unit Growth 2015-2020
Table 7 Sales in Non-Store Retailing by Channel: Value 2015-2020
Table 8 Sales in Non-Store Retailing by Channel: % Value Growth 2015-2020
Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2015-2020
Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 11 Sales in Grocery Retailers by Channel: Value 2015-2020
Table 12 Sales in Grocery Retailers by Channel: % Value Growth 2015-2020
Table 13 Grocery Retailers Outlets by Channel: Units 2015-2020
Table 14 Grocery Retailers Outlets by Channel: % Unit Growth 2015-2020
Table 15 Non-Grocery Specialists: Value Sales, Outlets and Selling Space 2015-2020
Table 16 Non-Grocery Specialists: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 17 Sales in Non-Grocery Specialists by Channel: Value 2015-2020
Table 18 Sales in Non-Grocery Specialists by Channel: % Value Growth 2015-2020
Table 19 Non-Grocery Specialists Outlets by Channel: Units 2015-2020
Table 20 Non-Grocery Specialists Outlets by Channel: % Unit Growth 2015-2020
Table 21 Mixed Retailers: Value Sales, Outlets and Selling Space 2015-2020
Table 22 Mixed Retailers: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 23 Sales in Mixed Retailers by Channel: Value 2015-2020
Table 24 Sales in Mixed Retailers by Channel: % Value Growth 2015-2020
Table 25 Mixed Retailers Outlets by Channel: Units 2015-2020
Table 26 Mixed Retailers Outlets by Channel: % Unit Growth 2015-2020
Table 27 Retailing GBO Company Shares: % Value 2016-2020
Table 28 Retailing GBN Brand Shares: % Value 2017-2020
Table 29 Store-based Retailing GBO Company Shares: % Value 2016-2020
Table 30 Store-based Retailing GBN Brand Shares: % Value 2017-2020
Table 31 Store-based Retailing LBN Brand Shares: Outlets 2017-2020
Table 32 Non-Store Retailing GBO Company Shares: % Value 2016-2020
Table 33 Non-Store Retailing GBN Brand Shares: % Value 2017-2020
Table 34 Grocery Retailers GBO Company Shares: % Value 2016-2020
Table 35 Grocery Retailers GBN Brand Shares: % Value 2017-2020
Table 36 Grocery Retailers LBN Brand Shares: Outlets 2017-2020
Table 37 Grocery Retailers LBN Brand Shares: Selling Space 2017-2020
Table 38 Non-Grocery Specialists GBO Company Shares: % Value 2016-2020
Table 39 Non-Grocery Specialists GBN Brand Shares: % Value 2017-2020
Table 40 Non-Grocery Specialists LBN Brand Shares: Outlets 2017-2020
Table 41 Non-Grocery Specialists LBN Brand Shares: Selling Space 2017-2020
Table 42 Mixed Retailers GBO Company Shares: % Value 2016-2020
Table 43 Mixed Retailers GBN Brand Shares: % Value 2017-2020
Table 44 Mixed Retailers LBN Brand Shares: Outlets 2017-2020
Table 45 Mixed Retailers LBN Brand Shares: Selling Space 2017-2020
Table 46 Forecast Sales in Retailing by Store-based vs Non-Store: Value 2020-2025
Table 47 Forecast Sales in Retailing by Store-based vs Non-Store: % Value Growth 2020-2025
Table 48 Forecast Sales in Store-based Retailing by Channel: Value 2020-2025
Table 49 Forecast Sales in Store-based Retailing by Channel: % Value Growth 2020-2025
Table 50 Forecast Store-based Retailing Outlets by Channel: Units 2020-2025
Table 51 Forecast Store-Based Retailing Outlets by Channel: % Unit Growth 2020-2025
Table 52 Forecast Sales in Non-Store Retailing by Channel: Value 2020-2025
Table 53 Forecast Sales in Non-Store Retailing by Channel: % Value Growth 2020-2025
Table 54 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 55 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025
Table 56 Forecast Sales in Grocery Retailers by Channel: Value 2020-2025
Table 57 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2020-2025
Table 58 Forecast Grocery Retailers Outlets by Channel: Units 2020-2025
Table 59 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2020-2025
Table 60 Non-Grocery Specialists Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 61 Non-Grocery Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025
Table 62 Forecast Sales in Non-Grocery Specialists by Channel: Value 2020-2025
Table 63 Forecast Sales in Non-Grocery Specialists by Channel: % Value Growth 2020-2025
Table 64 Forecast Non-Grocery Specialists Outlets by Channel: Units 2020-2025
Table 65 Forecast Non-Grocery Specialists Outlets by Channel: % Unit Growth 2020-2025
Table 66 Mixed Retailers Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 67 Mixed Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025
Table 68 Forecast Sales in Mixed Retailers by Channel: Value 2020-2025
Table 69 Forecast Sales in Mixed Retailers by Channel: % Value Growth 2020-2025
Table 70 Forecast Mixed Retailers Outlets by Channel: Units 2020-2025
Table 71 Forecast Mixed Retailers Outlets by Channel: % Unit Growth 2020-2025

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Summary 2 Research Sources

Convenience Stores in Vietnam

KEY DATA FINDINGS

2020 IMPACT

Pandemic slows down channel expansion

Value sales growth remains in double digits

Convenience generally delivered by international-run stores

RECOVERY AND OPPORTUNITIES

Further gains predicted but at a slower rate owing to market saturation

Social side of visiting convenience stores important for trade

Mobile payment to extend its coverage in Vietnam

CHANNEL DATA

Table 72 Convenience Stores: Value Sales, Outlets and Selling Space 2015-2020
Table 73 Convenience Stores: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 74 Convenience Stores GBO Company Shares: % Value 2016-2020
Table 75 Convenience Stores GBN Brand Shares: % Value 2017-2020
Table 76 Convenience Stores LBN Brand Shares: Outlets 2017-2020
Table 77 Convenience Stores LBN Brand Shares: Selling Space 2017-2020
Table 78 Convenience Stores Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 79 Convenience Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025

Hypermarkets in Vietnam

KEY DATA FINDINGS

2020 IMPACT

Store expansion, regular marketing and e-commerce development help drive sales

Still in the shadow of supermarkets despite good progress

Big C sustains big lead

RECOVERY AND OPPORTUNITIES

Vietnam’s solid response to the pandemic will keep consumers spending

Emphasis on store expansion is easing

International brands to keep providing important USPs for in-store experience

CHANNEL DATA

Table 80 Hypermarkets: Value Sales, Outlets and Selling Space 2015-2020
Table 81 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 82 Hypermarkets GBO Company Shares: % Value 2016-2020
Table 83 Hypermarkets GBN Brand Shares: % Value 2017-2020
Table 84 Hypermarkets LBN Brand Shares: Outlets 2017-2020
Table 85 Hypermarkets LBN Brand Shares: Selling Space 2017-2020
Table 86 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 87 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025

Supermarkets in Vietnam

KEY DATA FINDINGS

2020 IMPACT

Saigon Union teams up with e-wallet player Momo to help overcome trading challenges during the pandemic

Supermarkets investing in foodservice offering

Local player Saigon continues to lead supermarkets

RECOVERY AND OPPORTUNITIES

Mini supermarkets offer compelling solution to retail-heavy areas

Private label has further growth potential

Bach Hoa Xanh now a real force

CHANNEL DATA

Table 88 Supermarkets: Value Sales, Outlets and Selling Space 2015-2020
Table 89 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 90 Supermarkets GBO Company Shares: % Value 2016-2020
Table 91 Supermarkets GBN Brand Shares: % Value 2017-2020
Table 92 Supermarkets LBN Brand Shares: Outlets 2017-2020
Table 93 Supermarkets LBN Brand Shares: Selling Space 2017-2020
Table 94 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 95 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025

Traditional Grocery Retailers in Vietnam

KEY DATA FINDINGS

2020 IMPACT

Lower value growth in channel as consumers marginalise non-essentials

Less dynamic than modern retail channels, but still key to industry performance

Extremely crowded landscape led by Vietnam Dairy Products

RECOVERY AND OPPORTUNITIES

Pick-up in sales performance anticipated in 2021

Modernising outlets in the channel could be key as COVID-19 highlights sanitation and health further

Mini supermarkets could pose big challenges

CHANNEL DATA

Table 96 Traditional Grocery Retailers: Value Sales, Outlets and Selling Space 2015-2020
Table 97 Traditional Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 98 Traditional Grocery Retailers GBO Company Shares: % Value 2016-2020
Table 99 Traditional Grocery Retailers GBN Brand Shares: % Value 2017-2020
Table 100 Traditional Grocery Retailers LBN Brand Shares: Outlets 2017-2020
Table 101 Traditional Grocery Retailers LBN Brand Shares: Selling Space 2017-2020
Table 102 Traditional Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 103 Traditional Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025

Apparel and Footwear Specialist Retailers in Vietnam

KEY DATA FINDINGS

2020 IMPACT

Sales plummet as consumers focus on the essentials

Allure of global brand names set to help channel back on track

Strong reputation keeps Blue Exchange at the top

RECOVERY AND OPPORTUNITIES

Full channel recovery expected in 2022

E-commerce increasingly key for players of all sizes

Counterfeits with their cheap prices represent a challenge to the channel

CHANNEL DATA

Table 104 Apparel And Footwear Specialist Retailers: Value Sales, Outlets and Selling Space 2015-2020
Table 105 Apparel And Footwear Specialist Retailers: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 106 Apparel And Footwear Specialist Retailers GBO Company Shares: % Value 2016-2020
Table 107 Apparel And Footwear Specialist Retailers GBN Brand Shares: % Value 2017-2020
Table 108 Apparel And Footwear Specialist Retailers LBN Brand Shares: Outlets 2017-2020
Table 109 Apparel And Footwear Specialist Retailers LBN Brand Shares: Selling Space 2017-2020
Table 110 Apparel And Footwear Specialist Retailers Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 111 Apparel And Footwear Specialist Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025

Electronics and Appliance Specialist Retailers in Vietnam

KEY DATA FINDINGS

2020 IMPACT

Online channels prevent overall sales losses in 2020

The Vietnamese love their consumer electronics and appliances

Mobile World continues to soar above its rivals

RECOVERY AND OPPORTUNITIES

Channel set to bounce back with strong growth in 2021

Less is more for physical stores as consumers have done their homework

Consumers prefer the chained outlets for electronics and appliances

CHANNEL DATA

Table 112 Electronics and Appliance Specialist Retailers: Value Sales, Outlets and Selling Space 2015-2020
Table 113 Electronics and Appliance Specialist Retailers: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 114 Electronics and Appliance Specialist Retailers GBO Company Shares: % Value 2016-2020
Table 115 Electronics and Appliance Specialist Retailers GBN Brand Shares: % Value 2017-2020
Table 116 Electronics and Appliance Specialist Retailers LBN Brand Shares: Outlets 2017-2020
Table 117 Electronics and Appliance Specialist Retailers LBN Brand Shares: Selling Space 2017-2020
Table 118 Electronics and Appliance Specialist Retailers Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 119 Electronics and Appliance Specialist Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025

Health and Beauty Specialist Retailers in Vietnam

KEY DATA FINDINGS

2020 IMPACT

Mixed performance is recorded as health is the sole focus in 2020

Chain reaction to increasing health-consciousness

Fragmented landscape has strong local and international presence

RECOVERY AND OPPORTUNITIES

Swift return to growth for beauty and optical channels predicted

E-commerce increasingly key for profitability

Consumers showing growing preference for chained outlets

CHANNEL DATA

Table 120 Health and Beauty Specialist Retailers: Value Sales, Outlets and Selling Space 2015-2020
Table 121 Health and Beauty Specialist Retailers: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 122 Sales in Health and Beauty Specialist Retailers by Channel: Value 2015-2020
Table 123 Sales in Health and Beauty Specialist Retailers by Channel: % Value Growth 2015-2020
Table 124 Health and Beauty Specialist Retailers GBO Company Shares: % Value 2016-2020
Table 125 Health and Beauty Specialist Retailers GBN Brand Shares: % Value 2017-2020
Table 126 Health and Beauty Specialist Retailers LBN Brand Shares: Outlets 2017-2020
Table 127 Health and Beauty Specialist Retailers LBN Brand Shares: Selling Space 2017-2020
Table 128 Health and Beauty Specialist Retailers Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 129 Health and Beauty Specialist Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025
Table 130 Forecast Sales in Health and Beauty Specialist Retailers by Channel: Value 2020-2025
Table 131 Forecast Sales in Health and Beauty Specialist Retailers by Channel: % Value Growth 2020-2025

Home and Garden Specialist Retailers in Vietnam

KEY DATA FINDINGS

2020 IMPACT

Pandemic sees consumers put home and garden products on the back burner

Health crisis disrupts vibrant sales performance

Crowded landscape edged by AA Corp

RECOVERY AND OPPORTUNITIES

Channel momentum likely to recover quickly

Omnichannel strategy to become more important

Forecast period could see arrival of Ikea

CHANNEL DATA

Table 132 Home and Garden Specialist Retailers: Value Sales, Outlets and Selling Space 2015-2020
Table 133 Home and Garden Specialist Retailers: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 134 Sales in Home and Garden Specialist Retailers by Channel: Value 2015-2020
Table 135 Sales in Home and Garden Specialist Retailers by Channel: % Value Growth 2015-2020
Table 136 Home and Garden Specialist Retailers GBO Company Shares: % Value 2016-2020
Table 137 Home and Garden Specialist Retailers GBN Brand Shares: % Value 2017-2020
Table 138 Home and Garden Specialist Retailers LBN Brand Shares: Outlets 2017-2020
Table 139 Home and Garden Specialist Retailers LBN Brand Shares: Selling Space 2017-2020
Table 140 Home and Garden Specialist Retailers Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 141 Home and Garden Specialist Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025
Table 142 Forecast Sales in Home and Garden Specialist Retailers by Channel: Value 2020-2025
Table 143 Forecast Sales in Home and Garden Specialist Retailers by Channel: % Value Growth 2020-2025

Department Stores in Vietnam

KEY DATA FINDINGS

2020 IMPACT

AEON alleviates stronger drop in channel sales

Players try to offer consumers more than just shopping

AEON is head of the department

RECOVERY AND OPPORTUNITIES

Channel recovery dependent on return of international tourists

Synergy between department store and shopping centre should be harnessed

Online sales unlikely to be significant despite impact of health crisis

CHANNEL DATA

Table 144 Department Stores: Value Sales, Outlets and Selling Space 2015-2020
Table 145 Department Stores: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 146 Department Stores GBO Company Shares: % Value 2016-2020
Table 147 Department Stores GBN Brand Shares: % Value 2017-2020
Table 148 Department Stores LBN Brand Shares: Outlets 2017-2020
Table 149 Department Stores LBN Brand Shares: Selling Space 2017-2020
Table 150 Department Stores Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 151 Department Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025

Variety Stores in Vietnam

KEY DATA FINDINGS

2020 IMPACT

Channel suffers as stores shut and consumers stay away

Craze for Korean culture increasingly influencing variety stores

Miniso is at the summit of variety stores

RECOVERY AND OPPORTUNITIES

Franchise model offers solid route to achieving sales growth

Online sales unlikely to gain traction for variety stores

Diversification in the in-store experience can help achieve stand-out

CHANNEL DATA

Table 152 Variety Stores: Value Sales, Outlets and Selling Space 2015-2020
Table 153 Variety Stores: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 154 Variety Stores GBO Company Shares: % Value 2016-2020
Table 155 Variety Stores GBN Brand Shares: % Value 2017-2020
Table 156 Variety Stores LBN Brand Shares: Outlets 2017-2020
Table 157 Variety Stores LBN Brand Shares: Selling Space 2017-2020
Table 158 Variety Stores Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 159 Variety Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025

Direct Selling in Vietnam

KEY DATA FINDINGS

2020 IMPACT

Consumer health continues to grow despite channel restrictions

Winning consumer trust is key in a market with potential

Herbalife leads sales despite higher-than-average prices

RECOVERY AND OPPORTUNITIES

Channel predicted to bounce back strongly

Little potential for food and drink direct selling in Vietnam, but consumer appliances is one area to watch

Oriflame looks to help reignite the spark in beauty and personal care

CHANNEL DATA

Table 160 Direct Selling by Category: Value 2015-2020
Table 161 Direct Selling by Category: % Value Growth 2015-2020
Table 162 Direct Selling GBO Company Shares: % Value 2016-2020
Table 163 Direct Selling GBN Brand Shares: % Value 2017-2020
Table 164 Direct Selling Forecasts by Category: Value 2020-2025
Table 165 Direct Selling Forecasts by Category: % Value Growth 2020-2025

Homeshopping in Vietnam

KEY DATA FINDINGS

2020 IMPACT

Sales growth accelerates as pandemic keeps consumers at home

Leading sales baton passed on frequently in homeshopping

Lack of brand identity characterises homeshopping

RECOVERY AND OPPORTUNITIES

Deceleration in current value sales growth predicted

Online purchases likely to become more prevalent

TV homeshopping platform to keep driving sales

CHANNEL DATA

Table 166 Homeshopping by Category: Value 2015-2020
Table 167 Homeshopping by Category: % Value Growth 2015-2020
Table 168 Homeshopping Forecasts by Category: Value 2020-2025
Table 169 Homeshopping Forecasts by Category: % Value Growth 2020-2025

E-Commerce in Vietnam

KEY DATA FINDINGS

2020 IMPACT

Boom in e-commerce as pandemic keeps consumers indoors

Apparel and footwear increasing its online share

Mobile World JSC is still at the sales summit

RECOVERY AND OPPORTUNITIES

Vietnam being primed for long-term e-commerce growth

Third party payment services modernise e-commerce transactions in Vietnam

Omnichannel strategy on the rise in Vietnam

CHANNEL DATA

Table 170 E-Commerce by Channel and Category: Value 2015-2020
Table 171 E-Commerce by Channel and Category: % Value Growth 2015-2020
Table 172 E-Commerce GBO Company Shares: % Value 2016-2020
Table 173 E-Commerce GBN Brand Shares: % Value 2017-2020
Table 174 Forecast E-Commerce by Channel and Category: Value 2020-2025
Table 175 Forecast E-Commerce by Channel and Category: % Value Growth 2020-2025

Mobile E-Commerce in Vietnam

KEY DATA FINDINGS

2020 IMPACT

Most consumers in Vietnam now use their mobiles for e-commerce

High smartphone ownership fuelling strong performance of mobile e-commerce

Mobile World benefits from wide coverage

RECOVERY AND OPPORTUNITIES

Government to support mobile channel expansion in Vietnam

Attractive offers from e-wallet providers provide further impetus for growth

Apps likely to be leveraged further for stronger consumer engagement

CHANNEL DATA

Table 176 Mobile E-Commerce: Value 2015-2020
Table 177 Mobile E-Commerce: % Value Growth 2015-2020
Table 178 Mobile E-Commerce Forecasts: Value 2020-2025
Table 179 Mobile E-Commerce Forecasts: % Value Growth 2020-2025

Food and Drink E-Commerce in Vietnam

KEY DATA FINDINGS

2020 IMPACT

Pandemic pushes buying food and drink online further towards the mainstream

Organic-orientated players utilise social media to connect with their audience

Home delivery supported by strong outlet network gives best results

RECOVERY AND OPPORTUNITIES

Channel to continue dynamic performance

The freshness challenge likely to remain a barrier

Bubble unlikely to burst for soft drinks, while players will look to differentiate

CHANNEL DATA

Table 180 Food and Drink E-Commerce: Value 2015-2020
Table 181 Food and Drink E-Commerce: % Value Growth 2015-2020
Table 182 Food and Drink E-Commerce Forecasts: Value 2020-2025
Table 183 Food and Drink E-Commerce Forecasts: % Value Growth 2020-2025

Warehouse Clubs in Vietnam

KEY DATA FINDINGS

Vending in Vietnam

KEY DATA FINDINGS

Discounters in Vietnam

KEY DATA FINDINGS

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