As Competition Increases, Discount-Driven Strategies Reshape Perceptions of Value
Retail in Vietnam demonstrated notable resilience and growth in 2025, outpacing much of the region with value sales reaching VND3,141 trillion and a 6% annual increase, buoyed by real GDP growth of 7% and stable inflation at 3%. This dynamic landscape is marked by intensifying rivalry from both domestic and international entrants, rapid adoption of digital commerce, and evolving regulatory requirements, all contributing to a highly competitive yet attractive environment for investment and expansion. The ability to deliver value through aggressive discounting, to harness the potential of digital and livestream sales channels, and to adapt to regulatory shifts will determine success, while the interplay between traditional small local grocers and the accelerating advance of retail e-commerce is redefining the competitive balance. Brands seeking sustainable growth must prioritise omnichannel strategies, invest in technological innovation, and navigate an increasingly regulated setting, as shopper expectations shift towards convenience, digital engagement, and disciplined spending.
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Overview:
Understand the latest market trends and future growth opportunities for the Retail industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Convenience Stores
- Discounters
- Hypermarkets
- Supermarkets
- Traditional Grocery Retailers
- Apparel and Footwear Specialist Retailers
- Electronics and Appliance Specialist Retailers
- Health and Beauty Specialist Retailers
- Home and Garden Specialist Retailers
- Department Stores
- Variety Stores
- Warehouse Clubs
- Direct Selling
- Homeshopping
- Vending
If you're in the Retail industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Retail in Vietnam report includes:
- Analysis of key retail trends
- Detailed segmentation of offline and online retail sales
- Historic channel sizes (retail value sales, outlet counts, and selling space)
- Company and brand market shares (retail value sales and outlet counts)
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Retail in Vietnam?
- Which are the leading retailers in Retail in Vietnam?
- How are products distributed in Retail in Vietnam?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How significant are discounters and private label in Vietnam?
- To what extent are sales shifting towards digital channels?
- What is the long-term outlook for bricks-and-mortar?
- How is macroeconomic and political uncertainty affecting the retail industry?
- What types of retailers are seeing the fastest growth in digital sales?
- What is the future of retail?
Retail in Vietnam
As Competition Increases, Discount-Driven Strategies Reshape Perceptions of Value
Key Data Insights
As Competition Increases, Discount-Driven Strategies Reshape Perceptions of Value
Bach Hoa Xanh’S Growth Outpaces That of Traditional Competitors in Terms of Value Increase
Dien May Cho Lon’S Livestream Mega-Sales Transform Electronics Shopping
Generation Z and Y Fuel the Growth of Modern Retail Outlets outside Urban Areas
Tax Reforms and Local Warehousing Reshape Competition and Profitability for Both Online and Offline Retailers
Shopee and Bytedance Expand, but Fragmentation Persists in Retail
Saigon Co.Op and Canifa Set New Benchmarks with Smart Retail Innovation
Informal Retail
Opening Hours for Physical Retail
Seasonality
Vietnamese Lunar New Year (Tet)
Black Friday
Double-Digit Sales Days
Convenience Retailers in Vietnam
Key Data Insights
Gs25 and 7-Eleven Accelerate Urban Expansion to Win over City Dwellers
Gs25 and 7-Eleven Accelerate Urban Expansion to Win over City Dwellers
Gs25 Leverages Local Insight and Global Expertise to Redefine the Shopping Experience
7-Eleven Sets New Food Trends to Win over Young Consumers Online and Offline
7-Eleven and Gs25 Expand Fast to Meet Youth-Driven Demand
Convenience Stores Outpace Forecourt Retailers with Lifestyle-Led Growth
Circle K Consolidates Leadership as Gs25 Drives Experience-Led Growth
Supermarkets in Vietnam
Key Data Insights
Winmart+ and Bach Hoa Xanh Accelerate Expansion as Shoppers Seek Modern Grocery Experiences
Winmart+ and Bach Hoa Xanh Accelerate Expansion as Shoppers Seek Modern Grocery Experiences
Saigon Co-Op Introduces Ai-Powered Robots to Redefine In-Store Shopping
Bach Hoa Xanh and Winmart+ Target Underserved Areas to Drive Sustained Sales Growth
Retailers Leverage Digital Channels and Private Label Innovation to Attract Value-Focused Consumers
Bach Hoa Xanh Accelerates Store Expansion to Widen Sales Lead
Opportunities for Growth through Scale and Operational Efficiency
Hypermarkets in Vietnam
Key Data Insights
Central Retail Accelerates Store Expansion and Drives Outlet Growth
Central Retail Accelerates Store Expansion and Drives Outlet Growth
Go! Introduces Self-Checkout Zones to Enhance Customer Experience
Central Retail and Aeon Target Provincial Expansion to Capture New Spending
Go! and Lotte Integrate Technology and Sustainability to Boost Shopper Engagement
Rising Gdp and Selective Retail Formats Underpin Long-Term Gains
Central Retail and Aeon Expand Reach as Competition Intensifies
Small Local Grocers in Vietnam
Key Data Insights
The Shift of Urban Youth Towards Convenience Stores Is Leading to Store Closures
The Shift of Urban Youth Towards Convenience Stores Is Leading to Store Closures
Young Shoppers Abandon Traditional Stores for Modern Retail Experiences
Community Grocers Adopt Digital Tools to Improve Resilience
Community-Focused Grocers Will Embrace Digital Tools to Offset Closures
New Tax Rules Squeeze Margins and Accelerate Modernisation
Digitalisation and Urbanisation to Reshape Revenue and Store Presence
Market Fragmentation among Small Local Grocers in Vietnam
General Merchandise Stores in Vietnam
Key Data Insights
Aeon and Chained Variety Stores Drive Growth with Tourism and New Store Concepts
Aeon and Chained Variety Stores Drive Growth with Tourism and New Store Concepts
Aeon Strengthens Department Store Dominance as Variety Stores Accelerate
Lotte and Aeon Reshape Shopping Habits through Retail-Tainment and Lifestyle Experiences, While Kkv and Miniso Accelerate Youth-Focused Variety Store Expansion
Miniso to Expand Footprint as Competition Intensifies Nationwide
Livestreaming and Digital Campaigns to Boost Sales and Brand Engagement
Aeon Expands with Lifestyle Malls and Digital Rewards to Extend Its Lead
Apparel and Footwear Specialists in Vietnam
Key Data Insights
Canifa Leverages Virtual Retail to Sustain Growth Amid Digital Disruption
Canifa Leverages Virtual Retail to Sustain Growth Amid Digital Disruption
Canifa’S Livestreams and Uniqlo’S New Events Redefine Engagement and Loyalty
Giordano Captures Growth by Blending Online and Offline Strategies
Livestream Shopping and Digital Integration to Support Revenue Gains
Chained Specialists to Leverage Brand Experience to Outpace Online Rivals
Uniqlo Increases Customer Engagement through Weekly Promotions and In-Store Events
Appliances and Electronics Specialists in Vietnam
Key Data Insights
Mobile World Jsc and Peers Accelerate Shift to Digital as Physical Sales Weaken
Mobile World Jsc and Peers Accelerate Shift to Digital as Physical Sales Weaken
Dien May Cho Lon Boosts Sales through Regular Large-Discount Livestreams
Fpt Shop’S Ai-Powered Trade-In Programme Accelerates Upgrade Cycles and Loyalty
Mobile World Jsc and Fpt Prioritise Digitalisation to Drive Value Gains
Mobile World Jsc and Fpt Embrace Ai and Omnichannel Strategies to Enhance Customer Experience
Mobile World Jsc Leverages Brand Strength and Financial Solutions to Outpace Rivals
Home Products Specialists in Vietnam
Key Data Insights
Nha Xinh Promotes Value-Oriented Purchasing through Aggressive Discounts
Nha Xinh Promotes Value-Oriented Purchasing through Aggressive Discounts
Home Improvement and Gardening Stores Sustain Leadership as Pet Shops Accelerate
Jysk Transforms Store Experience to Capture Young Shoppers’ Attention
Nitori Speeds up Store Expansion as Urban Youth Drive Demand for Comfort
Home Improvement Stores Consolidate Lead as Pet Shops Outpace Growth
Omnichannel and Store Upgrades Redefine Consumer Engagement
Aa Corp and Nitori Reinforce Their Dominance through Brand Investment and Rapid Expansion
Health and Beauty Specialists in Vietnam
Key Data Insights
Resilient Growth through Integrated, Experience-Driven Retail
Resilient Growth through Integrated, Experience-Driven Retail
Long Chau and Compliant Chains Consolidate Leadership as Regulation Reshapes the Health and Beauty Specialists' Channel
Vietnam's Health and Beauty Specialists Transform into Trusted, Multi-Service Retail Hubs
Long Chau, Hasaki and Watson to Expand Reach beyond Major Cities
Pharmacies Set to Secure Leadership as Traditional Channels Lose Popularity
Hasaki’S Interactive Formats and Digital Innovation to Redefine Retail Experience
Long Chau Accelerates Digital Expansion as Hasaki Captures Growth with Investment
Direct Selling in Vietnam
Key Data Insights
Regulatory Crackdowns Hit Sales at Herbalife and Amway
Regulatory Crackdowns Hit Sales at Herbalife and Amway
Consumer Caution and Enforcement Reshape Product Sales Hierarchy
Police Interventions Expose Unlicensed Operators and Reduce Participation
Oriflame Leverages Ai and Digital Tools to Reshape Advisor Engagement
Amway Pivots to Wellness and Premium Cosmetics to Defend Growth
Ministry Enforcement Restricts Dietary Supplement Launches and Drives Digital Adaptation
Herbalife Builds Brand Loyalty through Nationwide Health Initiatives
Oriflame Expands Digital Community to Drive Advisor Engagement
Retail E-Commerce in Vietnam
Key Data Insights
Tiktok Shop Outpaces Traditional Rivals with Viral-Driven Sales
Tiktok Shop Outpaces Traditional Rivals with Viral-Driven Sales
Shein and Temu Lose Ground as Domestic Rules Reshape Shopping Habits
Rising Fees and Tax Changes Prompt Sellers to Rethink Pricing and Promotions
Tiktok, Instagram, and Youtube Shape Gen Z Purchasing with Livestream Shopping
Marketplace E-Commerce Keeps Its Lead as Sellers Seek Alternative Platforms
Shopee Raises Fees, and Tiktok Shop Captures Share with Shoppertainment
Country Reports Disclaimer
The following categories and subcategories are included:
Retail
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- Convenience Stores
- Forecourt Retailers
- Supermarkets
- Hypermarkets
- Discounters
- Warehouse Clubs
- Food/Drink/Tobacco Specialists
- Small Local Grocers
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- Department Stores
- Variety Stores
- Apparel and Footwear Specialists
- Appliances and Electronics Specialists
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- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
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- Beauty Specialists
- Pharmacies
- Optical Goods Stores
- Health and Personal Care Stores
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- Bags and Luggage Specialists
- Jewellery and Watch Specialists
- Sports Goods Stores
- Traditional Toys and Games Stores
- Other Non-Grocery Retailers
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- Fashion Vending
- Health and Beauty Vending
- Appliances and Electronics Vending
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- Alcoholic Drinks Vending
- Hot Drinks Vending
- Soft Drinks Vending
- Tobacco Products Vending
- Foods Vending
- Home Products Vending
- Other Products Vending
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- Apparel and Footwear Direct Selling
- Personal Accessories Direct Selling
- Eyewear Direct Selling
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- Beauty and Personal Care Direct Selling
- Consumer Health Direct Selling
- Tissue and Hygiene Direct Selling
- Appliances and Electronics Direct Selling
- Drinks and Tobacco Direct Selling
- Foods Direct Selling
- Home Products Direct Selling
- Other Products Direct Selling
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- Apparel and Footwear E-Commerce
- Personal Accessories E-Commerce
- Eyewear E-Commerce
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- Beauty and Personal Care E-Commerce
- Consumer Health E-Commerce
- Tissue and Hygiene E-Commerce
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- Consumer Appliances E-Commerce
- Consumer Electronics E-Commerce
- Toys and Games E-Commerce
- Drinks and Tobacco E-Commerce
- Foods E-Commerce
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- Home Care E-Commerce
- Home and Garden E-Commerce
- Pet Care E-Commerce
- Other Products E-Commerce
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- First-Party (1P) Marketplace E-Commerce
- Third-Party (3P) Marketplace E-Commerce
- Grocery E-Commerce
- General Merchandiser E-Commerce
- Apparel and Footwear Specialist E-Commerce
- Appliances and Electronics Specialist E-Commerce
- Home Products Specialist E-Commerce
- Health and Beauty Specialist E-Commerce
- Leisure and Personal Goods Specialist E-Commerce
- Other E-Commerce Retailers
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Retail
Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, wholesale sales (e.g. Cash and Carry), and sales through cannabis dispensaries in markets where cannabis is sold legally. Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.
See all of our definitionsWhy buy this report?
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This report originates from Passport, our Retail research and analysis database.
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