VN has attractive retail market in 2016

Illustration photo

A series of famous retailers have flocked to Viet Nam, including Aeon Mall and Auchan. The competition at the retail market has become hottest than ever.

According to an analysis of Statista, a Germany-based online statistics portal, the market would value US$100 billion in 2016.Thus, big retailers from Japan, Thailand, Germany, and France hoped to penetrate the market.

With a young population and increasing number of visitors to commercial centres, Viet Nam offers a potential cake for the retail sector.

Recently, the Economist Intelligence Unit (EIU) published a report on economic prospects for 2016, highlighting analysis and forecasts on automobile, retail, energy, finance, healthcare, and telecom.

The Economist said that the liberalization of the retail sector has converted Viet Nam into an extremely attractive market. Despite economic deceleration in China, like India, growth rate of the retail sector in Viet Nam would outstrip other countries, especially e-commerce./.

By Kim Anh