Navi Mumbai, Maharashtra India (PressExposure) June 22, 2011 -- Vietnam is one of the five most lucrative retail markets in the world. With the economic growth of around 6.8% in 2010, changes in the country's regulatory structure favoring foreign investors, and increasing consumer attention towards modern retail concepts, the retail sales are expected to surge at a CAGR of around 23% during 2011-2014, says our new research report "Vietnam Retail Market Forecast to 2014".
As per our research, the penetration of modern retailing in Vietnam is quite low as the sector is dominated by traditional players. Majority of the consumers prefer buying from corner grocery shops than modern outlets, and they buy according to their consumption. This is opposite to the international consumers, who tend to store weekly or sometimes monthly grocery demand. However, we expect that, the modern retail channels will play a crucial role in the future growth, improving their position in the market. Increasing purchasing power, changing lifestyle, and influence of western culture are some of the key growth drivers in the country's modern retail market. It is also expected that, during the next few years, a short wave of consolidation will emerge as foreign retailers are trying to consolidate their position and deepen their market penetration.
At the segment level, demand for consumer goods has been strong, particularly in urban areas. White goods and consumer electronics sectors have witnessed numerous foreign-invested joint ventures that manufacture their brands locally. Most of the output is exported. Although the clothing sector is well-developed and export-oriented, cosmetics and toiletries sector does not possess well-developed local manufacturing facilities.
Besides, our report analyzes factors critical to the success of the retail industry in Vietnam. It has also identified key players in the market and includes their recent activities. Additionally, the report sheds light on the emerging industry trends, such as internet retailing, mobile retailing, private labels, luxury retailing along with various growth hurdles, such as government policies, poor supply chain management, limited retail space. Most importantly, the report discusses market structure along with current, future, and past market performance of the retail industry in Vietnam.
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