Tin mới
Retailers in a competition (12/05)
06/08/2010 - 176 Lượt xem
Vietnam is considered as a potential land not only for foreign investors but also retailers. The attractiveness of the Vietnamese retail market has triggered a tough competition between domestic and foreign distributors.
AT Kearney, a US-based market research firm has recently ranked Vietnam third among the most potential retail markets not only in Asia but also in the world, just behind India and Russia.
According to the General Office of Statistics (GOS), retails of goods and services in Vietnam in 2004 totaled nearly VND372.48 trillion, up 18.5% over 2003 and rose sharply to VND475.38 trillion in 2005, a 20.5% increase over 2004.
In the January – April period this year, VND175.85 trillion worth of goods and services was consumed, up 20% over the same period of last year. With around 50% of population under age 30, Vietnam is really an attractive retail market in Southeast Asia or Asia, where population density is the highest in the world.
Experts say it is the big gap between modern and traditional distribution modes that makes Vietnam a potential retail market. 90% of the distribution channels in Vietnam are traditional and jumping-in retailers who can take over this share will influence both consumers and producers in the country.
Many foreign retailers have been doing business in Vietnam like Metro Cash & Carry, Bourbon, etc with modern retail outlets, exerting pressure on domestic distributors. Phu Thai, a domestic retailer with major operation in the Northern region is pushing up investment to enhance its strength, emphasizing improvement of a software system for distribution management. Saigon Co-op, also a big domestic distributor, is also improving its system to better compete with foreign rivals.
Source: Vietnam Economic Times
