Assessing the development potential of modern retail in Vietnam

Abstract

Vietnam retail market is one among the attractive retail markets in the world. The development of retail market leads to the formation and development of modern retail formats. Currently, the modern retail formats like supermarkets, commercial centers, convenience stores are gradually replacing the traditional forms of retail stores such as markets and individual business. This study was conducted to assess the development potential of modern retail in Vietnam. The foundation of this development is the growth of the size of the domestic retail market, the increasing degree of urbanization and the rapid increase of foreign investment projects in the retail sector, thanks to Vietnam's economic progress of integration with the world economy. The study results showed that after about the first 20 years of formation and development, the modern retail formats are entering the stage with strong development potential.