Vietnam's Retail Market, Household Shops to Shopping Malls

According to CB Richard Ellis (CBRE), Vietnam’s rapid economic development and recent WTO accession are attracting growing numbers of retailers from an array of retail sectors. Vietnam’s retail culture has changed remarkably over the past five years, with one of the most noticeable changes the shift from a culture of self-denial to one of the self-indulgence, as a modern consumer culture emerges.

 

CBRE remarks that household shops remain the foundation of retailing in Vietnam, and traditional shopping still accounts for the overwhelming majority of all retail sales. However, this is changing. Vietnam is now one of the world’s most promising retail markets, with many retailers and retail property developers entering or actively evaluating the market, because of its size, sustained economic growth, expanding leisure time and rising levels of disposable income.