Summary

2022 was a year of recovery and normalisation for retail in Vietnam, following the impacts created by the COVID-19 pandemic which lasted into 2021. In 2022, the Vietnamese government removed all restrictions and social distancing measures which were in place during the era of the pandemic, and the Vietnamese economy started to show recovery. Within this environment, consumers also have more freedom to go out shopping and many people have re-embraced this ability. Indeed, it is noted that Vietnam...

Euromonitor International's Retail in Vietnam report offers insight into key trends and developments driving the industry. The report examines all retail channels to provide sector insight. Channels include hypermarkets, supermarkets, discounters, convenience stores, mixed retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers. There are profiles of leading retailers, with analysis of their performance and the challenges they face. There is also analysis of non-store retailing: vending; homeshopping; internet retailing; direct selling, as available.

Product coverage: Retail E-Commerce, Retail Offline.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

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* Get a detailed picture of the Retail market;
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Table of Contents

Retail in Vietnam
Euromonitor International
April 2023

List Of Contents And Tables

RETAIL IN VIETNAM
EXECUTIVE SUMMARY
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
OPERATING ENVIRONMENT
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
MARKET DATA
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
SOURCES
Summary 2 Research Sources
CONVENIENCE RETAILERS IN VIETNAM
KEY DATA FINDINGS
2022 DEVELOPMENTS
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
PROSPECTS AND OPPORTUNITIES
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
CHANNEL DATA
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
DISCOUNTERS IN VIETNAM
2022 DEVELOPMENTS
The presence of discounters continues to be negligible
PROSPECTS AND OPPORTUNITIES
Discounters expected to remain insignificant over the forecast period
HYPERMARKETS IN VIETNAM
KEY DATA FINDINGS
2022 DEVELOPMENTS
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
PROSPECTS AND OPPORTUNITIES
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
CHANNEL DATA
Table 65 Hypermarkets: Value Sales, Outlets and Selling Space 2017-2022
Table 66 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 67 Hypermarkets GBO Company Shares: % Value 2018-2022
Table 68 Hypermarkets GBN Brand Shares: % Value 2019-2022
Table 69 Hypermarkets LBN Brand Shares: Outlets 2019-2022
Table 70 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 71 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
SUPERMARKETS IN VIETNAM
KEY DATA FINDINGS
2022 DEVELOPMENTS
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
PROSPECTS AND OPPORTUNITIES
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
CHANNEL DATA
Table 72 Supermarkets: Value Sales, Outlets and Selling Space 2017-2022
Table 73 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 74 Supermarkets GBO Company Shares: % Value 2018-2022
Table 75 Supermarkets GBN Brand Shares: % Value 2019-2022
Table 76 Supermarkets LBN Brand Shares: Outlets 2019-2022
Table 77 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 78 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
SMALL LOCAL GROCERS IN VIETNAM
KEY DATA FINDINGS
2022 DEVELOPMENTS
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
PROSPECTS AND OPPORTUNITIES
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
CHANNEL DATA
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
APPAREL AND FOOTWEAR SPECIALISTS IN VIETNAM
KEY DATA FINDINGS
2022 DEVELOPMENTS
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
PROSPECTS AND OPPORTUNITIES
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
CHANNEL DATA
Table 83 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 84 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 85 Apparel and Footwear Specialists GBO Company Shares: % Value 2018-2022
Table 86 Apparel and Footwear Specialists GBN Brand Shares: % Value 2019-2022
Table 87 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2019-2022
Table 88 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 89 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
APPLIANCES AND ELECTRONICS SPECIALISTS IN VIETNAM
KEY DATA FINDINGS
2022 DEVELOPMENTS
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
PROSPECTS AND OPPORTUNITIES
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
CHANNEL DATA
Table 90 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 91 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 92 Appliances and Electronics Specialists GBO Company Shares: % Value 2018-2022
Table 93 Appliances and Electronics Specialists GBN Brand Shares: % Value 2019-2022
Table 94 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2019-2022
Table 95 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 96 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
HEALTH AND BEAUTY SPECIALISTS IN VIETNAM
KEY DATA FINDINGS
2022 DEVELOPMENTS
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
PROSPECTS AND OPPORTUNITIES
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
CHANNEL DATA
Table 97 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2017-2022
Table 98 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 99 Sales in Health and Beauty Specialists by Channel: Value 2017-2022
Table 100 Sales in Health and Beauty Specialists by Channel: % Value Growth 2017-2022
Table 101 Health and Beauty Specialists GBO Company Shares: % Value 2018-2022
Table 102 Health and Beauty Specialists GBN Brand Shares: % Value 2019-2022
Table 103 Health and Beauty Specialists LBN Brand Shares: Outlets 2019-2022
Table 104 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 105 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 106 Forecast Sales in Health and Beauty Specialists by Channel: Value 2022-2027
Table 107 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2022-2027
HOME PRODUCTS SPECIALISTS IN VIETNAM
KEY DATA FINDINGS
2022 DEVELOPMENTS
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
PROSPECTS AND OPPORTUNITIES
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
CHANNEL DATA
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
GENERAL MERCHANDISE STORES IN VIETNAM
KEY DATA FINDINGS
2022 DEVELOPMENTS
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
PROSPECTS AND OPPORTUNITIES
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
CHANNEL DATA
Table 135 General Merchandise Stores: Value Sales, Outlets and Selling Space 2017-2022
Table 136 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2017-2022
Table 137 Sales in General Merchandise Stores by Channel: Value 2017-2022
Table 138 Sales in General Merchandise Stores by Channel: % Value Growth 2017-2022
Table 139 General Merchandise Stores GBO Company Shares: % Value 2018-2022
Table 140 General Merchandise Stores GBN Brand Shares: % Value 2019-2022
Table 141 General Merchandise Stores LBN Brand Shares: Outlets 2019-2022
Table 142 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2022-2027
Table 143 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
Table 144 Forecast Sales in General Merchandise Stores by Channel: Value 2022-2027
Table 145 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2022-2027
DIRECT SELLING IN VIETNAM
KEY DATA FINDINGS
2022 DEVELOPMENTS
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
PROSPECTS AND OPPORTUNITIES
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
CHANNEL DATA
Table 119 Direct Selling by Product: Value 2017-2022
Table 120 Direct Selling by Product: % Value Growth 2017-2022
Table 121 Direct Selling GBO Company Shares: % Value 2018-2022
Table 122 Direct Selling GBN Brand Shares: % Value 2019-2022
Table 123 Direct Selling Forecasts by Product: Value 2022-2027
Table 124 Direct Selling Forecasts by Product: % Value Growth 2022-2027
VENDING IN VIETNAM
2022 DEVELOPMENTS
Vending remains negligible in Vietnam
PROSPECTS AND OPPORTUNITIES
Vending is expected to record a stronger presence, yet remain insignificant
New players are hesitant to join vending due to lack of consumer need
RETAIL E-COMMERCE IN VIETNAM
KEY DATA FINDINGS
2022 DEVELOPMENTS
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
PROSPECTS AND OPPORTUNITIES
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
CHANNEL DATA
Table 125 Retail E-Commerce by Channel: Value 2017-2022
Table 126 Retail E-Commerce by Channel: % Value Growth 2017-2022
Table 127 Retail E-Commerce by Product: Value 2017-2022
Table 128 Retail E-Commerce by Product: % Value Growth 2017-2022
Table 129 Retail E-Commerce GBO Company Shares: % Value 2018-2022
Table 130 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
Table 131 Forecast Retail E-Commerce by Channel: Value 2022-2027
Table 132 Forecast Retail E-Commerce by Channel: % Value Growth 2022-2027
Table 133 Forecast Retail E-Commerce by Product: Value 2022-2027
Table 134 Forecast Retail E-Commerce by Product: % Value Growth 2022-2027