The land of the ascending dragon, Vietnam is a landscape paradise housing more than 100 million citizens. But amidst the beauty lies a
series of blockers that hinder the route-to-market capacities of retail businesses. Still, with over 60% of the population living in the rural lands and a low cost of manufacturing, Vietnam holds immense potential for flourishing retail growth.
In 2022, Vietnam’s economic landscape witnessed a remarkable feat, with a pronounced economic growth rate of 8.02%.
This extraordinary growth, which was the swiftest annual expansion since the year 1997, was possible due to the sturdy performance of the domestic retail sector and exports. Yet in the early months of 2023, the growth of the retail sector lowered on a yearly comparison due to the ongoing global economic deceleration.
This report shares a comprehensive analysis of the Vietnam Retail Market encompassing an evaluation of emerging trends across segments, significant shifts in market dynamics, giving a holistic view of how technology can be a catalyst to growth in the years ahead.