With the fastest-growing middle class in Southeast Asia, Vietnam has been experiencing phenomenal growth rates in its retail sector. This trend looks set to continue into the future, given its relatively young population demographics and robust consumer spending behaviours. Indeed, the rise of e-commerce and digital retail channels in Vietnam is one of the top trends to watch: by 2025, Vietnam’s e-commerce market size is expected to be second only to Indonesia in the Southeast Asia region.
In this report, we explore the drivers of growth in Vietnam’s retail sector, and take a look at some of the defining features of its new retail landscape. In particular, we examine the rise of Modern Trade channels in Vietnam, including commercial centres, convenience stores, and digital platforms. Later, we also highlight some of the findings from Deloitte’s latest retail survey, which was conducted across nearly 700 households in the two metropolitan cities of Hanoi and Ho Chi Minh City in late 2018.