Modern retail model growing faster than entire retail industry

He was Kent Thai, president of Kent Sing, who traveled the country for three months and met with dozens of Vietnamese businesses to discuss investment opportunities.The businessman wanted to look for land plots in advantageous positions with the areas of at least 50,000 square meters on which he planned to develop hypermarkets.Kent Thai, like many other foreign investors, believed that Vietnam was a promising land for retailers. But his plan has not been realized because of many reasons.The Vietnamese market of modern retail has had many deals completed recently. French Auchan Group, for example, announced the plan to invest US$500…... [read more]

The Ministry of Industry and Trade wants to move the nation away from traditional markets to a modern retail distribution system, accounting for 40% of the total retail trade by 2020.    Customers purchase frozen foods at Big C Super Market in Hanoi. Presently the modern retail distribution channels accounted for only 20% of the total retail trade, including food, hardware, appliances etc, Deputy Minister Ho Thi Kim Thoa told a conference in Hanoi on Tuesday. The rest was sold at traditional markets. Statistics from the ministry showed that the country now had more than 8,500 traditional markets, 615 supermarkets…... [read more]

HA NOI — Modern retail centres, convenience stores and supermarkets are having an impact on traditional markets and the livelihood of thousands of merchants throughout the city, a seminar in HCM City heard on Friday. The seminar of merchants, producers and distributors, held to seek solutions to the problem, also heard that customer concerns about fake goods, poor quality and hygiene at traditional markets. The seminar heard that new private convenience stores also had cheap prices because of modern distribution channels and promotions which were not available to traditional market traders. Consumers preferred to buy quality and safe goods at…... [read more]

The reportis based on an online survey of more than 30,000 respondents across 60countries in Asia-Pacific, Europe, Latin America, the Middle East, aswell as Africa and North America. The survey was held to examine howmodern and digital shopping channels have been changing the retailmarket scene.According to the report, 42 percent consumers inthe Philippines have made purchases at supermarkets more often in thepast 12 months. The report also highlights thegrowing importance of convenience stores as another modern retail formatfor consumers to buy foods and groceries. More than one-fourth of theconsumers in the Philippines shopped for foods and groceries atconvenience stores more…... [read more]

With the theme “On the way to Industry 4.0, Digitalisation of the Entire Industrial Value Chain”, Siemens allowed visitors to explore in detail its range of automation and digitalisation technologies across five processes, including Product Design, Production Planning, Production Engineering, Production Execution and Services. In the Product Design stage, the integration of CAD/CAM/CAE solutions with NX and Simcenter allowed visitors to have a holistic view of NX for design (NX CAD), NX for manufacturing (NX CAM) and Simcenter, which consists of offerings that include 3D simulation and 1D simulation.Besides, Siemens’ Teamcenter software provides the industry with a leading collaboration platform…... [read more]

With a total revenue growth of 25 percent a year even in the time of global economic crisis and domestic economic slowdown, the Vietnamese retail market is considered a “promising land” for foreign investors. Top 15Since 2009, Vietnam has completely opened up its market to foreign retailers. This move is compared to an important breath of fresh air for the retail market and a significant leverage to give a facelift to the Vietnamese retail industry. It also provides more choices for consumers, creates a driving force for Vietnamese retailers to enhance supplying capacity and boosts fair competitiveness. Retail sales grew…... [read more]

Vietnam is facing huge challenges as its retail market, a strength in attracting investment in previous years, is knocked out of the top 30 leading countries in the world in terms of business attraction. Huge opportunities as well as challengesAccording to incomplete statistics from the Association of Vietnam Retailers, the country currently has about 130 commercial centres, 700 supermarkets, over 1,000 modern retail outlets, concentrating mostly in Hanoi and Ho Chi Minh City. With the strength of young population and a rapid urbanisation rate, Vietnam is among the countries with the most attractive retail markets in the world. In the period…... [read more]

The industry isdominated by traditional distribution channels and plagued by tinyinvestments, and is a sitting target for foreign investors, Nguyen LocAn, deputy head of the Ministry of Industry and Trade's Domestic MarketDepartment, said. According to ministry statistics, theretail industry accounts for 13-15 percent of GDP growth and providesover 6.3 million jobs. With the national population atover 90 million, a third of it living in urban areas and having anaverage income of 2,000 USD per year, the potential for modern retail ishuge. Besides, infrastructure has improved and expanded, creating favourable conditions for the easy distribution of goods. But traditional delivery channels…... [read more]

This further marks the group’s business expansion into foreign markets, especially in Southeast Asia.“The trade center is in the final stages of completion prior to opening,” according to Ms. Phung Thi Xuan An, Public Relations Supervisor at Takashimaya Vietnam.Located on Le Loi Street in the city center, Takashimaya has five floors on an area of 15,000 sq m.Its opening is a milestone in Vietnam’s luxury retail market, offering a high-end shopping experience in the south of the country.With a young population, rising middle class and one of the fastest growing economies in Southeast Asia, Vietnam is becoming a “magnet” in attracting…... [read more]

A supermarket in Ha Noi. The city's retail system is developed strongly in scale and quality to meet demand from the local people and foreign visitors. — Photo HA NOI (VNS)— The retail market in Ha Noi is still attractive for investors, even though it has experienced business impediments during the past, a Ha Noi Industry and Trade Department official said.Last year was continuously marked by numerous fluctuations in the modern retail market nationwide, as well as in Ha Noi, which encountered many challenges in business, said Tran Phuong Lan, Director of the Department.Some trading centres in the city…... [read more]