PRZOOM - /newswire/ -
Delhi, New Delhi, India, 2007/05/15 - As the retail industry is showing signs of further growth, foreign players are vying to grab their share in the marketplace.
According to the recent market research report on “Vietnam Retail Industry Analysis”, published by RNCOS, retailing infrastructure in Vietnam is set to undergo rapid transformation during 2007-2011, with air conditioned mini marts, small shopping complexes and supermarkets becoming more ubiquitous – attracting more consumers.
With the retail market in Vietnam ranked as one of the seven most lucrative in the world, foreign and local distributors are queuing up to grab a chunk of the pie. Most retail leading retail distributors and manufacturers have already made their presence felt in Vietnam, comprising Metro Cash & Carry of Germany that runs eight supermarkets – earning US$ 500 Million per annum and a 45% growth annually.
After operating for eight years in Vietnam, Bourbon of France has set up a network of six supermarkets branded Big C in Hanoi capital city, southern Ho Chi Minh City, and northern Hai Phong city. Parkson – another prominent retailer – attained 35% annual growth from its operations within just two years of its launch in the country. The company intends to launch 10 additional trade centers in Vietnam.
With foreign distributors’ presence in the country, customers can now enjoy modern shopping approaches, with increased convenience and enhanced quality of products. Meanwhile, domestic producers are being provided with opportunities to choose and use the best & most effective channel of distribution within the ability of promoting their products in market. Also, the domestic firms can cut down the costs related to the distribution of merchandises.
Economic experts anticipate that there’ll be increased number of overseas retailers landing up in Vietnam in the years to come, apart from the existing giants’ expansion.
RNCOS report “Vietnam Retail Industry Analysis” notifies, “Retail market in Vietnam is expanding much speedily than various other economies globally, except China and India. The retail sector in Vietnam has received huge foreign investment, and the industry has encountered some instances of consolidation resulting in the formation of bigger shops & shopping centers. However, conventional outdoor markets still make up almost 90% of total retail sales in 2005-2006.”
Key facts and issues analyzed in this report include: market size and scope of the retail industry in Vietnam, major players in the Vietnam retail industry, their presence, and the strategies being employed by them with analysis on their market positioning, opportunities, emerging trends, & challenges faced by retailers in Vietnam, etc.
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RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.