VIETNAM’S BUSINESS NEWS HEADLINES AUGUST 11

Fierce competition in retail market The Vietnamese retail market has seen some exciting mergers and acquisitions (M&A) in addition to electronic commerce in 2019 and early 2020 resulting in fierce competition in the market. Soon after Vietnam participated in the World Trade Organization, the Southeast Asian country has been ranked as one of the most attractive retail markets. With its population of nearly 100 million people, 70 percent of them at the working age and 34 percent of them in urban areas and the fastest-growing middle class in Southeast Asia, Vietnam has become an ideal market; therefore, giant retail corporations such as Metro Cash & Carry, Casino Group, Parkson, Auchan, 7-Eleven, Aeon, Lotte Mart have flocked to the Southeast Asian country. Locally, in addition to familiar brand names including Saigon Co.op – investor of Co.opmart, Co.op Food, The Gioi Di Dong, Nguyen Kim, FPT Shop, Hapro Mart, newcomers namely VinGroup with Vinmart, Vinmart+, Bach hoa Xanh ( Green Grocery) jumped into the market. The presence of local and international retailers has changed the market dramatically. Commercial centers and supermarkets have been booming gradually replacing traditional business. However, some retailers are exhausted in the intense competition leading to many mergers and… Read full this story

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