PRZOOM - /newswire/ -
Noida, Uttar Pradesh, India, 2011/03/11 - Vietnam non-food retail sales are projected to grow at a CAGR of over 19% during 2010-2012, says RNCOS in its latest research report.
According to our new research report “Vietnam Retail Analysis (2008-2012)”, fast growth has been witnessed in the Vietnamese retail sales during the last few years. Although Vietnamese retail market is much smaller in comparison to other developing countries, like, India and China, the market has shown tremendous growth during the past few years, especially in its non-food segment. Non-food retailing has been consistently increasing due to rising consumer spending on non-essential items, such as clothing, electrical, etc. Therefore, we anticipate that, the non-food retailing will grow at a CAGR of over 19% during 2010-2012.
As per our study, non-food retailing has also made the country an attractive destination for multinational retailers. With the growing interest in western style shopping among people, a large number of modern shopping complexes have sprung up in the main urban centers attracting wealthy urbanites. Besides this trend, various other strong fundamental drivers discussed and analyzed in the report will enable this segment to sustain its upward growth trend in the coming years.
Further, our report reveals that presently, traditional retailers dominate the retail market. However, the government’s decision to allow entry of foreign retailers will help the modern retailers to explore the country’s retail market. International brands are rapidly expanding their presence in the Vietnamese market as demand for modern retail formats, such as supermarkets air conditioned minimarts, and small shopping complexes surges with rising consumer income.
Besides, an extensive research is done on sub-segments, like consumer electronics, which is growing at a fast pace due to the increase in consumer spending on white goods and other items. Specifically, personal computers and mobile phones are doing well due to the rising in demand from the young population.
Our comprehensive research report “Vietnam Retail Analysis (2008-2012)”, will help clients in identifying the leading-edge opportunities that are vital for the success of the retail industry in Vietnam. The report covers all the necessary aspects of the retail market, like market by segments, provinces, ownership, and retail formats to present an insight into the market trends and changes taking place across the country. The report will provide consultants, industry analysts, and vendors to get an in-depth knowledge of the current, past, and future performance of the retail market in Vietnam. In this way, the report presents a complete and coherent analysis of the Vietnam retail industry and will prove decisive for clients.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.