Vietnam Food Retail to Witness 21% Growth

According to our research report “Vietnam Retail Analysis (2008-2012)”, the retail sector in Vietnam has been experiencing strong growth for the past few years and attracting foreign retailers. In 2009, the food retail sales contributed the major share in total retail sales and are expected to grow continuously as consumers are now shifting towards frozen foods and other food items. Considering the above mentioned trends and market developments, the food retail sales are expected to grow at a CAGR of over 21% during 2010-2012. The food service market will expand at a much faster pace in urban centers than rural areas. Strong growth is likely to be witnessed in the Vietnamese fast-food sector, which is still at the nascent stage compared to a number of other countries in the region.

 

The concept of modern retailing is constantly growing in the country with the entrance of foreign players and change in consumer buying pattern. Our report has explained all the retail formats and factors that are contributing growth in Vietnam. Almost all the provinces in Vietnam are reporting high retail sales due to rising disposable income, increasing demand for consumer goods, surging consumer spending, rapid urbanization, and growing brand- and fashion-consciousness. The study has discussed the retail market at the provincial level along with their future growth.

 

We have found that at the segment level, demand for consumer goods has been strong, particularly in urban areas. White goods and consumer electronics sectors have seen a number of foreign-invested joint ventures that manufacture their brands locally. Clothing sector is well-developed and export-oriented, while the cosmetics and toiletries sector does not possess well-developed local manufacturing facilities. Our report has discussed all the retail segments with their forecasts. We have also covered the retail sectors in terms of ownership patterns.

 

Our study has identified that that the inadequate management experience, inability to access finance, and poor distribution networks are the major problems faced by domestic retailers. The report has also discussed other hurdles that the industry is currently facing. We have also analyzed the consumer behavior pattern and competitive landscape.

For more information visit: http://www.rncos.com/Report/IM097.htm