Vietnam Retail Market Forecast to 2014
Vietnam, one of the world’s five most lucrative retail markets, has been experiencing significant changes in the regulatory structure and consumer behavior. In our latest report, we found that the number of modern retail stores has considerably increased in Vietnam’s retail market, which is attracting a number of foreign investors and international brands. Keeping in view such developments, we estimate that the retail sales of goods and services in the country will surge at a CAGR of around 26% during 2012-2015.
The “Vietnam Retail Market Forecast to 2014” says that though penetration of modern retailing is quite low in the country as traditional players dominate, the modern retail channels are expected to play a crucial role in future growth. We also studied how e-retailing and mobile retailing segments are changing the face of the industry, which is expanding in line with rising disposable incomes and infrastructure development. During trend analysis, it was observed that the rural retail market will continue to provide multitude of investment opportunities in Vietnam.
The segment-level analysis made it clear that in packaged food segment, noodles are favorite food of Vietnamese people. Besides, parents’ growing awareness will continue to spur growth in baby food division. In non-food segment, we analyzed the durable and non-durable consumer goods segments, and found that clothing sector is well-developed and export-oriented, while cosmetics and toiletries sector lacks strong local manufacturing facilities. On the other hand, the demand for consumer electronics and white goods is expected to further increase in the coming years.
The province-wise study divulged that central highland province in Vietnam is expected to have the highest growth in the retail market. Additionally, the report sheds light on retail sales by ownership which concludes that non-state companies hold the maximum share in the retail industry. It also discusses the roadblocks which may hamper the industry’s future growth. Most importantly, it elaborates the industry’s current and past performance, and presents forecasts to depict a clear and balanced picture of the Vietnamese retail market to clients.
The “Vietnam Retail Market Forecast to 2014” says that though penetration of modern retailing is quite low in the country as traditional players dominate, the modern retail channels are expected to play a crucial role in future growth. We also studied how e-retailing and mobile retailing segments are changing the face of the industry, which is expanding in line with rising disposable incomes and infrastructure development. During trend analysis, it was observed that the rural retail market will continue to provide multitude of investment opportunities in Vietnam.
The segment-level analysis made it clear that in packaged food segment, noodles are favorite food of Vietnamese people. Besides, parents’ growing awareness will continue to spur growth in baby food division. In non-food segment, we analyzed the durable and non-durable consumer goods segments, and found that clothing sector is well-developed and export-oriented, while cosmetics and toiletries sector lacks strong local manufacturing facilities. On the other hand, the demand for consumer electronics and white goods is expected to further increase in the coming years.
The province-wise study divulged that central highland province in Vietnam is expected to have the highest growth in the retail market. Additionally, the report sheds light on retail sales by ownership which concludes that non-state companies hold the maximum share in the retail industry. It also discusses the roadblocks which may hamper the industry’s future growth. Most importantly, it elaborates the industry’s current and past performance, and presents forecasts to depict a clear and balanced picture of the Vietnamese retail market to clients.
1. ANALYST VIEW
2. RESEARCH METHODOLOGY
3. VIETNAM - AN ATTRACTIVE RETAIL MARKET
4. INDUSTRY TRENDS
4.1 Modern Retailing: Growing at Phenomenal Pace
4.2 Foreign Retailers Keen to Enter Vietnam
4.3 E-Retailing: Holding Huge Potential
4.4 Growing Acceptance of Private Labels
4.5 Traditional Retail not to Lose Attention
4.6 Mobile Retailing: Enriching Retail Experience
4.7 Home Brands - A New Trend In Supermarkets
4.8 Untapped Rural Retail Market Likely to Thrive
5. MARKET PERFORMANCE
5.1 Food
5.1.1 Packaged Food
5.1.1.1 Dried Processed Food
5.1.1.2 Noodles
5.1.1.3 Dairy
5.1.1.4 Bakery
5.1.1.5 Sauces, Dressings and Condiments
5.1.1.6 Baby Food
5.2 Non-Food
5.2.1 Clothing
5.2.2 Footwear
5.2.3 Cosmetics and Toiletries
5.2.4 Perfumes and Fragrances
5.2.5 Household Furniture
5.2.6 Soaps and Cleaners
5.2.7 Consumer Electronics
5.2.7.1 TV Sets
5.2.7.2 Mobile Handsets
5.2.7.3 Personal Computers
5.2.7.4 Washing Machines
5.3 By Province
5.3.1 South East
5.3.2 Red River Delta
5.3.3 Mekong River Delta
5.3.4 North Central Coast
5.3.5 Northern Midlands and Mountain Areas
5.3.6 Central Highlands
5.4 By Ownership
5.4.1 State-owned Companies
5.4.2 Non-state-owned Companies
5.4.3 Foreign-owned Companies
5.5 By Retail Format
5.5.1 Traditional Market
5.5.2 Supermarket
5.5.3 Hypermarket and Warehouse Clubs
5.5.4 Convenience Stores and Minimarkets
6. CONSUMER BEHAVIOR ANALYSIS
7. INDUSTRY ROADBLOCKS
7.1 Stringent Government Regulations
7.2 Poor Supply Chain Management
2. RESEARCH METHODOLOGY
3. VIETNAM - AN ATTRACTIVE RETAIL MARKET
4. INDUSTRY TRENDS
4.1 Modern Retailing: Growing at Phenomenal Pace
4.2 Foreign Retailers Keen to Enter Vietnam
4.3 E-Retailing: Holding Huge Potential
4.4 Growing Acceptance of Private Labels
4.5 Traditional Retail not to Lose Attention
4.6 Mobile Retailing: Enriching Retail Experience
4.7 Home Brands - A New Trend In Supermarkets
4.8 Untapped Rural Retail Market Likely to Thrive
5. MARKET PERFORMANCE
5.1 Food
5.1.1 Packaged Food
5.1.1.1 Dried Processed Food
5.1.1.2 Noodles
5.1.1.3 Dairy
5.1.1.4 Bakery
5.1.1.5 Sauces, Dressings and Condiments
5.1.1.6 Baby Food
5.2 Non-Food
5.2.1 Clothing
5.2.2 Footwear
5.2.3 Cosmetics and Toiletries
5.2.4 Perfumes and Fragrances
5.2.5 Household Furniture
5.2.6 Soaps and Cleaners
5.2.7 Consumer Electronics
5.2.7.1 TV Sets
5.2.7.2 Mobile Handsets
5.2.7.3 Personal Computers
5.2.7.4 Washing Machines
5.3 By Province
5.3.1 South East
5.3.2 Red River Delta
5.3.3 Mekong River Delta
5.3.4 North Central Coast
5.3.5 Northern Midlands and Mountain Areas
5.3.6 Central Highlands
5.4 By Ownership
5.4.1 State-owned Companies
5.4.2 Non-state-owned Companies
5.4.3 Foreign-owned Companies
5.5 By Retail Format
5.5.1 Traditional Market
5.5.2 Supermarket
5.5.3 Hypermarket and Warehouse Clubs
5.5.4 Convenience Stores and Minimarkets
6. CONSUMER BEHAVIOR ANALYSIS
7. INDUSTRY ROADBLOCKS
7.1 Stringent Government Regulations
7.2 Poor Supply Chain Management
LIST OF FIGURES
Figure 3-1: Retail Sales of Goods and Services (Trillion VND), 2010-2015
Figure 3-2: Share of Food and Non-Food Retail Sales (2011)
Figure 4-1: Share of Modern Retailing in Retail Sales (2011 & 2020)
Figure 4-2: Internet Users (Million), 2010-2015
Figure 4-3: Mobile Subscribers (Million), 2010-2015
Figure 5-1: Food Retail Sales (Trillion VND), 2010-2015
Figure 5-2: Packaged Food Sales (Billion US$), 2010-2015
Figure 5-3: Packaged Food Market by Major Players (%), 2011
Figure 5-4: Dried Processed Food Sales (Billion US$), 2010-2015
Figure 5-5: Noodles Sales (Billion US$), 2010-2015
Figure 5-6: Dairy Sales (Billion US$), 2010- 2015
Figure 5-7: Baked Goods Sales (Billion US$), 2010-2015
Figure 5-8: Sauces, Dressings and Condiments Sales (Billion US$), 2010-2015
Figure 5-9: Baby Food Sales (Billion US$), 2010-2015
Figure 5-10: Non-Food Retail Sales (Trillion VND), 2010-2015
Figure 5-11: Share of Non-Food Retail Sales by Segment (2011)
Figure 5-12: Clothing Sales (Trillion VND), 2010-2015
Figure 5-13: Footwear Sales (Trillion VND), 2010- 2015
Figure 5-14: Cosmetics and Toiletries Sales (Trillion VND), 2010-2015
Figure 5-15: Perfumes and Fragrances Sales (Billion VND), 2010-2015
Figure 5-16: Household Furniture Sales (Billion VND), 2010-2015
Figure 5-17: Soap and Cleaner Sales (Trillion VND), 2010-2015
Figure 5-18: TV Set Sales (‘000 Units), 2010-2015
Figure 5-19: Mobile Handset Sales (Million Units), 2010-2015
Figure 5-20: Personal Computer Sales (Million Units), 2010-2015
Figure 5-21: Washing Machine Sales (‘000 Units), 2010-2015
Figure 5-22: South East - Goods and Services Retail Sales (Trillion VND), 2010-2015
Figure 5-23: Red River Delta - Goods and Services Retail Sales (Trillion VND), 2010-2015
Figure 5-24: Mekong River Delta - Goods and Services Retail Sales (Trillion VND), 2010-2015
Figure 5-25: North Central Coast - Goods and Services Retail Sales (Trillion VND), 2010-2015
Figure 5-26: Northern Midlands and Mountain Areas - Goods and Services Retail Sales (Trillion VND), 2010-2015
Figure 5-27: Central Highlands - Goods and Services Retail Sales (Trillion VND), 2010-2015
Figure 5-28: Goods and Services Retail Sales by State-owned Companies (Trillion VND), 2010-2015
Figure 5-29: Goods and Services Retail Sales by Non-state-owned Companies (Trillion VND), 2010-2015
Figure 5-30: Goods and Services Retail Sales by Foreign-owned Companies (Trillion VND), 2010-2015
Figure 5-31: Share of Traditional and Modern Retail Format in Retail Sales (2011 & 2020)
Figure 3-1: Retail Sales of Goods and Services (Trillion VND), 2010-2015
Figure 3-2: Share of Food and Non-Food Retail Sales (2011)
Figure 4-1: Share of Modern Retailing in Retail Sales (2011 & 2020)
Figure 4-2: Internet Users (Million), 2010-2015
Figure 4-3: Mobile Subscribers (Million), 2010-2015
Figure 5-1: Food Retail Sales (Trillion VND), 2010-2015
Figure 5-2: Packaged Food Sales (Billion US$), 2010-2015
Figure 5-3: Packaged Food Market by Major Players (%), 2011
Figure 5-4: Dried Processed Food Sales (Billion US$), 2010-2015
Figure 5-5: Noodles Sales (Billion US$), 2010-2015
Figure 5-6: Dairy Sales (Billion US$), 2010- 2015
Figure 5-7: Baked Goods Sales (Billion US$), 2010-2015
Figure 5-8: Sauces, Dressings and Condiments Sales (Billion US$), 2010-2015
Figure 5-9: Baby Food Sales (Billion US$), 2010-2015
Figure 5-10: Non-Food Retail Sales (Trillion VND), 2010-2015
Figure 5-11: Share of Non-Food Retail Sales by Segment (2011)
Figure 5-12: Clothing Sales (Trillion VND), 2010-2015
Figure 5-13: Footwear Sales (Trillion VND), 2010- 2015
Figure 5-14: Cosmetics and Toiletries Sales (Trillion VND), 2010-2015
Figure 5-15: Perfumes and Fragrances Sales (Billion VND), 2010-2015
Figure 5-16: Household Furniture Sales (Billion VND), 2010-2015
Figure 5-17: Soap and Cleaner Sales (Trillion VND), 2010-2015
Figure 5-18: TV Set Sales (‘000 Units), 2010-2015
Figure 5-19: Mobile Handset Sales (Million Units), 2010-2015
Figure 5-20: Personal Computer Sales (Million Units), 2010-2015
Figure 5-21: Washing Machine Sales (‘000 Units), 2010-2015
Figure 5-22: South East - Goods and Services Retail Sales (Trillion VND), 2010-2015
Figure 5-23: Red River Delta - Goods and Services Retail Sales (Trillion VND), 2010-2015
Figure 5-24: Mekong River Delta - Goods and Services Retail Sales (Trillion VND), 2010-2015
Figure 5-25: North Central Coast - Goods and Services Retail Sales (Trillion VND), 2010-2015
Figure 5-26: Northern Midlands and Mountain Areas - Goods and Services Retail Sales (Trillion VND), 2010-2015
Figure 5-27: Central Highlands - Goods and Services Retail Sales (Trillion VND), 2010-2015
Figure 5-28: Goods and Services Retail Sales by State-owned Companies (Trillion VND), 2010-2015
Figure 5-29: Goods and Services Retail Sales by Non-state-owned Companies (Trillion VND), 2010-2015
Figure 5-30: Goods and Services Retail Sales by Foreign-owned Companies (Trillion VND), 2010-2015
Figure 5-31: Share of Traditional and Modern Retail Format in Retail Sales (2011 & 2020)
LIST OF TABLES
Table 5-1: Number of Traditional Stores by Format (2008 & 2009)
Table 5-2: Number of Supermarkets (2008 & 2009)
Table 5-3: Number of Hypermarkets and Warehouse Clubs (2008 & 2009)
Table 5-4: Number of Convenience Stores and Minimarkets (2008 & 2009)
Table 5-1: Number of Traditional Stores by Format (2008 & 2009)
Table 5-2: Number of Supermarkets (2008 & 2009)
Table 5-3: Number of Hypermarkets and Warehouse Clubs (2008 & 2009)
Table 5-4: Number of Convenience Stores and Minimarkets (2008 & 2009)
