Delhi, India (PressExposure) July 29, 2009 -- Our latest research findings have revealed that the retail industry turnover in Vietnam grew by more than 50% during 2005-2008. As per the research study âVietnam Retail Analysis (2008-2012)â by RNCOS, the retail industry generated total turnover of US$ 39 Billion during 2008 as compared to around US$ 24 Billion in 2005. Report highlighted that the high consumer confidence coupled with various macro and micro economic factors were responsible for such unprecedented growth level attained by the industry in past.
As per our observation the absence of entry barrier and various economic liberalization procedures adopted by the government has positioned Vietnam as the most lucrative market in Asia. Also, the unharmed market sentiment due to 2008 financial turmoil has given retailers an edge over other attractive destinations like India and China. Our observation is further strengthen by the fact that Vietnam has emerged as the sixth most favorable destination for investment in retail as per 2009 GRDI index by A.T. Kearney.
We further anticipate that the government commitment to open market for foreign retailers in and salary increase during 2009 will give further boost to the retail industry in Vietnam. Despite the financial crisis, we give a positive outlook to Vietnam as a favorable destination for retailers. Although the traditional retail channel will continue dominating the market landscape, increasing investment will drive modern retail at rapid pace in the coming years.
With such strong fundamentals, we anticipate the retail industry turnover to surpass US$ 85 Billion in revenues by 2012. The future growth will be driven by modern retail channels, which will improve their position in market. We also expect a short wave of consolidation in the next five years as foreign retailers will try to consolidate their position and gain deeper penetration into the market.
The research will help consultants, industry analysts and vendors to get in depth knowledge on the current, past and future performance of the industry. The future outlook mentioned in the report has been derived by interacting with various industry veterans, developers, analyzing information from research papers, journals and our in-house developed models which have been designed especially according to the industry.
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