Magazines Archives - 2008 February

Vietnamese retail market expects US$54.3b growth
Story 1

VIETNAM’S retail market, dubbed by AT Kearney as the fourth most attractive retail market in the world, behind India, Russia and China, is expected to grow by 20.5% this year.

According to local media, Vietnam’s Ministry of Industry and Trade (MIT) has revealed that the country’s retail market can expect to see sales growths of up to VND875 trillion (US$54.3 billion)
this year, following a 23.3% increase in retail sales last year.

Hoang Tho Xuan, director of Domestic Market Policy Department at the MIT, noted that apart from metropolitan areas such as Hanoi and Ho Chi Minh City, retailers are beginning to open their stores in the more rural provinces throughout the country.

Last year, retail sales of goods and services were set at VND726 trillion, about 63% of the country’s gross domestic product.

However, despite the vast opportunities available in Vietnam, speakers at a seminar in Hanoi last month, highlighted that the country will need to meet some of the challenges in terms of infrastructure and logistics, which threaten to curb further growth of the retail industry.

For the month of January, Vietnam’s General Statistics Office (GSO) released an estimate of VND75.9 trillion for retail sales throughout the country, a 27.4% increase over the same
period last year.

Currently, there are about about 20 trade centres as well as 140 supermarkets and hypermarkets across the country, with close to one million sqm of retail floor space under construction.


2008 February Stories:

Philips Lighting - Creating an inspiring shopping experience with flexible lighting

Vietnamese retail market expects US$54.3b growth

Sprake is retail director of adidas Korea

Rustan’s ‘Service before Sales’ mantra clinches GIA trophy

Osim ventures into A ‘final frontier’ Asia-Pac’s

Aditya Birla Retail plans to open up to 500 stores

Giordano to open 25 stores in India by end-2008

Hong Kong’s X’mas 2007 shopper traffic up by 11.8%

Versace making foray into India’s ladies fashion market

Coach to open flagship store in HK

Beijing financial district gets high-end fashion mall

Taubman Asia set to revolutionise Korean retail scene

Mall to boost East Malaysia’s retail scene

Ciputra invests in integrated Indon mall

Online course to help retailers reduce fraud

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