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Retail sector in Vietnam - statistics & facts

The Doi Moi economic reform in Vietnam has led to rapid economic development and increased domestic consumption, resulting in the expanding retail sector in the country. To meet the demand of Vietnam’s increasing population and emerging middle class, the retail industry has been evolving fast in recent years in both urban and rural areas. In 2020, the wholesale and retail sector, together with the vehicle maintenance sector, accounted for almost 12 percent of the country’s GDP. In the same year, retail sales of goods and services reached over 5,000 trillion Vietnamese dong and were forecasted to continue growing in the future.

Retail segments and channels in Vietnam

Within the retail sector in Vietnam, food and beverage make up the largest segment, contributing over 51 billion U.S. dollars in retail sales in 2020. As consumer demands are shifting more towards convenience products, packaged food has been among the items with the highest revenue growth within the food sector. On the other hand, other retail segments such as electronic devices and household goods have experienced steady growth thanks to increasing consumption.

While traditional retail channels such as street stores and wet markets still accounted for the largest share of retail sales in the country, modern trade channels have shown steady growth and a high penetration rate over the years. Convenience stores and supermarkets have increased their presence by continuously opening new outlets. In urban areas, many Vietnamese consumers have demonstrated a higher preference for modern channels over traditional ones. Although local brands such as VinMart and Bach Hoa Xanh have been dominating the modern retail landscape, many foreign retailers have gained in popularity, such as Japanese Aeon and Korean Lotte franchises. In recent years, an increasing share of retail sales was from e-commerce.  

Impact of the COVID-19 pandemic

Since the first COVID-19 infection recorded in early 2020, Vietnam has gone through several national and regional lockdowns. Many retail outlets were closed except for grocers during these periods. Instead of traditional retailers, consumers often opted for modern trade channels or e-commerce when shopping due to their concerns for hygiene and safety. At the same time, the spending intention among consumers decreased considerably in many product categories apart from food and beverages and healthcare items. In general, the COVID-19 pandemic has significantly changed the way Vietnamese consumers shop, and the usage of modern retailers and e-commerce was expected to become the new shopping habits in the future.

Key figures

The most important key figures provide you with a compact summary of the topic of "Retail sector in Vietnam" and take you straight to the corresponding statistics.

Leading retailers

Impact of COVID-19

Interesting statistics

In the following 6 chapters, you will quickly find the 36 most important statistics relating to "Retail sector in Vietnam".

Retail sector in Vietnam

Dossier on the topic

All important statistics are prepared by our experts – available for direct download as PPT & PDF!
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Retail sector in Vietnam - statistics & facts

The Doi Moi economic reform in Vietnam has led to rapid economic development and increased domestic consumption, resulting in the expanding retail sector in the country. To meet the demand of Vietnam’s increasing population and emerging middle class, the retail industry has been evolving fast in recent years in both urban and rural areas. In 2020, the wholesale and retail sector, together with the vehicle maintenance sector, accounted for almost 12 percent of the country’s GDP. In the same year, retail sales of goods and services reached over 5,000 trillion Vietnamese dong and were forecasted to continue growing in the future.

Retail segments and channels in Vietnam

Within the retail sector in Vietnam, food and beverage make up the largest segment, contributing over 51 billion U.S. dollars in retail sales in 2020. As consumer demands are shifting more towards convenience products, packaged food has been among the items with the highest revenue growth within the food sector. On the other hand, other retail segments such as electronic devices and household goods have experienced steady growth thanks to increasing consumption.

While traditional retail channels such as street stores and wet markets still accounted for the largest share of retail sales in the country, modern trade channels have shown steady growth and a high penetration rate over the years. Convenience stores and supermarkets have increased their presence by continuously opening new outlets. In urban areas, many Vietnamese consumers have demonstrated a higher preference for modern channels over traditional ones. Although local brands such as VinMart and Bach Hoa Xanh have been dominating the modern retail landscape, many foreign retailers have gained in popularity, such as Japanese Aeon and Korean Lotte franchises. In recent years, an increasing share of retail sales was from e-commerce.  

Impact of the COVID-19 pandemic

Since the first COVID-19 infection recorded in early 2020, Vietnam has gone through several national and regional lockdowns. Many retail outlets were closed except for grocers during these periods. Instead of traditional retailers, consumers often opted for modern trade channels or e-commerce when shopping due to their concerns for hygiene and safety. At the same time, the spending intention among consumers decreased considerably in many product categories apart from food and beverages and healthcare items. In general, the COVID-19 pandemic has significantly changed the way Vietnamese consumers shop, and the usage of modern retailers and e-commerce was expected to become the new shopping habits in the future.

Interesting statistics

In the following 6 chapters, you will quickly find the 36 most important statistics relating to "Retail sector in Vietnam".

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