Retail Outlook Positive for Vietnam Despite Economic Crisis
By: noina dodo
Submitted: 2010-06-11 20:39:54 | Word Count: 421
Our latest analysis findings have revealed that the retail business turnover in Vietnam grew by a lot of than 50% throughout 2005-2008. As per the research study “Vietnam Retail Analysis (2008-2012)” by RNCOS, the retail trade generated total turnover of US$ thirty-nine Billion during 2008 as compared to around US$ 24 Billion in 2005. Report highlighted that the high shopper confidence not to mention various macro and micro economic factors were accountable for such unprecedented growth level attained by the business in past.
As per our observation the absence of entry barrier and varied economic liberalization procedures adopted by the govt has positioned Vietnam as the foremost lucrative market in Asia. Additionally, the unharmed market sentiment because of 2008 monetary turmoil has given retailers a position over different enticing destinations like India and China. Our observation is further strengthen by the actual fact that Vietnam has emerged because the sixth most favorable destination for investment in retail as per 2009 GRDI index by A.T. Kearney.
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We any anticipate that the government commitment to open marketplace for foreign retailers in and salary increase throughout 2009 will offer additional boost to the retail trade in Vietnam. Despite the money crisis, we offer a positive outlook to Vietnam as a good destination for retailers. Although the traditional retail channel can continue dominating the market landscape, increasing investment can drive trendy retail at fast pace in the approaching years.
With such strong fundamentals, we tend to anticipate the retail business turnover to surpass US$ 85 Billion in revenues by 2012. The long run growth will be driven by trendy retail channels, that can improve their position in market. We additionally expect a brief wave of consolidation in the subsequent five years as foreign retailers can attempt to consolidate their position and gain deeper penetration into the market.
The analysis will facilitate consultants, business analysts and vendors to induce exhaustive information on this, past and future performance of the industry. The longer term outlook mentioned in the report has been derived by interacting with numerous trade veterans, developers, analyzing info from analysis papers, journals and our in-house developed models that have been designed especially consistent with the industry.
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