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Household Furniture Demand Rises in Vietnam
Jul 23, 2010
Although the furniture manufacturing sector in Vietnam is mainly export-oriented, domestic demand has mounted gradually over the past few years. Furniture demand for both residential and commercial purposes has witnessed positive growth in the recent past. According to our research report “Vietnam Retail Analysis (2008-2012)”, the domestic furniture market is projected to grow at a CAGR of around 20% during 2009-2012 on the back of increasing number of households and rising income level of higher middle class population.
The report further states that the furniture market in Vietnam is largely dominated by outdoor furniture, but some rapid improvement in indoor furniture demand has also been observed. Consequently, the production of indoor furniture will surge at a fast pace in coming years. In view of the current scenario, demand for indoor furniture is expected to surpass the demand for outdoor furniture in the years to come.
The report has also found that non-food retailing represents nearly one-third of the total retail sales in Vietnam and this share has been consistently increasing as high income consumers spend more on non-essential items such as clothing, electrical and DIY (Do-It-Yourself) goods. Non-food retailers mainly consist of small-scale businesses focused on selling white goods, consumer electronics, clothes and cosmetics & toiletries.
“Vietnam Retail Analysis (2008-2012)” containscomprehensive information and rational analysis of the retail sector along with reliable statistical data. Our team of experts has examined every aspect of the retail sector in Vietnam to forecast the future market trends. The report covers retail sales by province, by ownership and by retail format. We have also studied consumer behavior pattern to understand their purchasing habits and brand sensitivity of Vietnamese people.
The report evaluates the presents and past trends to chart out prospective future trends for sales in both food and non-food retailing. The report also gives information about competitive the landscape. Our report will certainly help clients in making prudent investment decision as it gives significant information regarding current and future retail scenario.
For more information visit: http://www.rncos.com/Report/IM097.htm
For more information visit: http://www.rncos.com/Report/IM097.htm
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