Vietnam retail market size to grow by USD 163.49 billion from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio

NEW YORK, Jan. 9, 2023 /PRNewswire/ -- Technavio categorizes the retail market in Vietnam as a part of the internet and direct marketing retail market, which covers the revenue generated by companies providing retail services primarily on the Internet through mail orders, door-to-door retailers, and TV home shopping retailers. The size of the retail market in Vietnam is estimated to increase by USD 163.49 billion. The market's growth momentum will progress at a CAGR of 11.4%.

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Retail market in Vietnam – Vendor analysis 

Vendor offerings -

• 7-Eleven Inc. - The company offers retail services through its 7-Eleven Stores.
• AEON CO. Ltd. - The company offers retail services through its Supermarkets business and General Merchandise stores.
• Berli Jucker Public Co. Ltd. - The company offers retail services through Big C Supercenter.
• Central Group of Company - The company offers retail services such as department stores, lifestyle centers, and lifestyle and fashion brands.
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Vendor landscape -

The retail market in Vietnam is fragmented, with the presence of both small and large vendors. A few prominent vendors that offer retail in Vietnam in the market are 7-Eleven Inc., AEON CO. Ltd., Berli Jucker Public Co. Ltd., Central Group of Company, Central Retail Corp., Charoen Pokphand Foods PCL, Circle K, E Mart Co. Ltd., FPT Retail Joint Stock Co., Lotte Shopping Plaza Vietnam Co. Ltd., Masan Group, MM Mega Market Vietnam, Saigon Union of Trading Cooperatives, and SPAR International and others.

With the rise in competition, smaller entities are acquired by or merged with major players. A few large firms dominate the industry in terms of market share. However, mid-size and small businesses are expanding their market presence by establishing new contracts and entering new markets as a result of technological advances and product innovation. Hence, the retail market in Vietnam is anticipated to witness high competition and has high growth potential.

Retail market in Vietnam - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

Retail Market In Vietnam - Segmentation assessment

Segment overview
Technavio has segmented the market based on distribution channel (offline and online) and type (grocery, electronics and appliances, home and garden, health and beauty, and others). 

• The offline segment will contribute significantly to market growth during the forecast period. Domestic and foreign retail giants in Vietnam are competing with each other by providing a variety of shop formats, including commercial centers, supermarkets, and grocery and convenience stores. Supermarkets offer products that are in line with the day-to-day demands of consumers. Convenience stores are small retail stores that offer everyday products such as groceries, confectionaries, soft drinks, snacks, personal care products, toiletries, and other regular-use items. These factors will drive the growth of this segment during the forecast period.

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Retail market in Vietnam – Market dynamics

Leading drivers - The growing demand for convenience food products is driving the Vietnam retail market growth. The preference for convenience food products, such as processed meat and poultry products, is increasing when compared to home-cooked foods that need to be fully prepared. This is because of changing lifestyles, which has led to a reduced preference for traditional methods of cooking. These factors are expected to increase the demand for convenience products and, in turn, fuel the growth of the retail market in Vietnam during the forecast period.

Key trends - Urban lifestyles are a key trend in the market. Urbanization and changing demands of young urban customers have resulted in significant developments in contemporary retail channels such as convenience shops and e-commerce. Established and private retailers in the market are focusing more on online sales. Retailers are also leveraging factors such as internet and smartphone penetration to offer their products online. Such factors will support market growth during the forecast period.

Major challenges - Issues related to logistics and supply chain operations are hindering the Vietnam retail market growth. Back-end processes involved in supply chain management operations are complex, as they involve functions such as the acquisition of products, warehouse management, packaging, inventory management, distribution, and merchandising of products. Moreover, the risk of product damage adds to the complexity of the supply chain process. These factors will hinder the market growth during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact
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What are the key data covered in this retail market in Vietnam report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the retail market in Vietnam between 2023 and 2027
• Precise estimation of the size of the retail market in Vietnam and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of the retail market in Vietnam vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 11: Chart on Vietnam - Market size and forecast 2022-2027 ($ billion)
• Exhibit 12: Data Table on Vietnam - Market size and forecast 2022-2027 ($ billion)
• Exhibit 13: Chart on Vietnam: Year-over-year growth 2022-2027 (%)
• Exhibit 14: Data Table on Vietnam: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Retail market in Vietnam 2017 - 2021 
• Exhibit 15: Historic Market Size – Data Table on Retail market in Vietnam 2017 - 2021 ($ billion)

• 4.2 Distribution Channel Segment Analysis 2017 - 2021 
• Exhibit 16: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ billion)

• 4.3 End-User Segment Analysis 2017 - 2021 
• Exhibit 17: Historic Market Size – End-User Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
• Exhibit 25: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 26: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 27: Chart on Comparison by Distribution Channel
• Exhibit 28: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027 
• Exhibit 29: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 30: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 31: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027 
• Exhibit 33: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 34: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel 
• Exhibit 37: Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 38: Chart on Type - Market share 2022-2027 (%)
• Exhibit 39: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 40: Chart on Comparison by Type
• Exhibit 41: Data Table on Comparison by Type

• 7.3 Grocery - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Grocery - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Grocery - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Grocery - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Grocery - Year-over-year growth 2022-2027 (%)

• 7.4 Electronics and appliances - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Electronics and appliances - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Electronics and appliances - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Electronics and appliances - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Electronics and appliances - Year-over-year growth 2022-2027 (%)

• 7.5 Home and garden - Market size and forecast 2022-2027 
• Exhibit 50: Chart on Home and garden - Market size and forecast 2022-2027 ($ billion)
• Exhibit 51: Data Table on Home and garden - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Chart on Home and garden - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Home and garden - Year-over-year growth 2022-2027 (%)

• 7.6 Health and beauty - Market size and forecast 2022-2027 
• Exhibit 54: Chart on Health and beauty - Market size and forecast 2022-2027 ($ billion)
• Exhibit 55: Data Table on Health and beauty - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Chart on Health and beauty - Year-over-year growth 2022-2027 (%)
• Exhibit 57: Data Table on Health and beauty - Year-over-year growth 2022-2027 (%)

• 7.7 Others - Market size and forecast 2022-2027 
• Exhibit 58: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 59: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 61: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by Type 
• Exhibit 62: Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 64: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 65: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 66: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 67: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 68: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 69: Matrix on vendor position and classification

• 11.3 7-Eleven Inc.
• Exhibit 70: 7-Eleven Inc. - Overview
• Exhibit 71: 7-Eleven Inc. - Product / Service
• Exhibit 72: 7-Eleven Inc. - Key offerings

• 11.4 AEON CO. Ltd.
• Exhibit 73: AEON CO. Ltd. - Overview
• Exhibit 74: AEON CO. Ltd. - Business segments
• Exhibit 75: AEON CO. Ltd. - Key offerings
• Exhibit 76: AEON CO. Ltd. - Segment focus

• 11.5 Berli Jucker Public Co. Ltd. 
• Exhibit 77: Berli Jucker Public Co. Ltd. - Overview
• Exhibit 78: Berli Jucker Public Co. Ltd. - Business segments
• Exhibit 79: Berli Jucker Public Co. Ltd. - Key news
• Exhibit 80: Berli Jucker Public Co. Ltd. - Key offerings
• Exhibit 81: Berli Jucker Public Co. Ltd. - Segment focus

• 11.6 Central Group of Company 
• Exhibit 82: Central Group of Company - Overview
• Exhibit 83: Central Group of Company - Product / Service
• Exhibit 84: Central Group of Company - Key news
• Exhibit 85: Central Group of Company - Key offerings

• 11.7 Central Retail Corp.
• Exhibit 86: Central Retail Corp. - Overview
• Exhibit 87: Central Retail Corp. - Business segments
• Exhibit 88: Central Retail Corp. - Key news
• Exhibit 89: Central Retail Corp. - Key offerings
• Exhibit 90: Central Retail Corp. - Segment focus

• 11.8 Charoen Pokphand Foods PCL 
• Exhibit 91: Charoen Pokphand Foods PCL - Overview
• Exhibit 92: Charoen Pokphand Foods PCL - Business segments
• Exhibit 93: Charoen Pokphand Foods PCL - Key news
• Exhibit 94: Charoen Pokphand Foods PCL - Key offerings
• Exhibit 95: Charoen Pokphand Foods PCL - Segment focus

• 11.9 Circle K
• Exhibit 96: Circle K - Overview
• Exhibit 97: Circle K - Product / Service
• Exhibit 98: Circle K - Key offerings

• 11.10 E Mart Co. Ltd.
• Exhibit 99: E Mart Co. Ltd. - Overview
• Exhibit 100: E Mart Co. Ltd. - Product / Service
• Exhibit 101: E Mart Co. Ltd. - Key offerings

• 11.11 FPT Retail Joint Stock Co. 
• Exhibit 102: FPT Retail Joint Stock Co. - Overview
• Exhibit 103: FPT Retail Joint Stock Co. - Product / Service
• Exhibit 104: FPT Retail Joint Stock Co. - Key offerings

• 11.12 Lotte Shopping Plaza Vietnam Co. Ltd. 
• Exhibit 105: Lotte Shopping Plaza Vietnam Co. Ltd. - Overview
• Exhibit 106: Lotte Shopping Plaza Vietnam Co. Ltd. - Product / Service
• Exhibit 107: Lotte Shopping Plaza Vietnam Co. Ltd. - Key offerings

• 11.13 Masan Group
• Exhibit 108: Masan Group - Overview
• Exhibit 109: Masan Group - Product / Service
• Exhibit 110: Masan Group - Key offerings

• 11.14 MM Mega Market Vietnam 
• Exhibit 111: MM Mega Market Vietnam - Overview
• Exhibit 112: MM Mega Market Vietnam - Product / Service
• Exhibit 113: MM Mega Market Vietnam - Key offerings

• 11.15 Saigon Union of Trading Cooperatives 
• Exhibit 114: Saigon Union of Trading Cooperatives - Overview
• Exhibit 115: Saigon Union of Trading Cooperatives - Product / Service
• Exhibit 116: Saigon Union of Trading Cooperatives - Key offerings

• 11.16 SPAR International
• Exhibit 117: SPAR International - Overview
• Exhibit 118: SPAR International - Product / Service
• Exhibit 119: SPAR International - Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 120: Inclusions checklist
• Exhibit 121: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 122: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 123: Research methodology
• Exhibit 124: Validation techniques employed for market sizing
• Exhibit 125: Information sources

• 12.5 List of abbreviations 
• Exhibit 126: List of abbreviations

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