Hanoi (VNA)🦩 – To seize business opportunities, major retail companies are actively investing in expanding their distribution systems, contributing to the overall growth of the domestic market.

In 2025, the global market is expected to remain complex and unpredictable, facing the risk of trade tensions and protectionism. In this context, apart from expanding exports and seeking new markets, the strong development of the domestic market is an important base to maintain economic growth and stabilise production.

Intensifying investment

Since the beginning of this year, the Vietnamese retail market has been cause for optimism as retail businesses opened new sales points. Early January, Aeon - a large group from Japan, inaugurated Aeon Xuan Thuy, further increasing its presence in the Vietnamese market. Many domestic companies are also striving to increase sales points. By early March, on its website, Bach Hoa Xanh announced the locations of 1,876 sales points across 31 provinces and cities nationwide, an increase of about 90 compared to the end of 2024. Mobile World Investment Corporation, owner of Bach Hoa Xanh, plans to open an additional 200-400 sales points in 2025. It not only aims to increase revenue from existing stores, but also expand into new localities, starting from the north central province of Thanh Hoa. Currently, goods retailing is one of the most significant factors contributing to the total retail sales and consumer service revenue. This is why large companies are making efforts to invest in expanding their distribution systems to contribute to the overall growth of the domestic market. Representatives from the Vietnam Textile and Garment Group (Vinatex) reported that from 2020 to 2024, besides boosting exports, Vinatex has developed and expanded its domestic business network. The homegrown company achieved domestic revenue of approximately 40 trillion VND (1.56 billion USD), accounting for an average of 20% of the group's total revenue.

In addition, Vinatex has been also enhancing its uniform manufacturing segment with major partners, focusing on introducing quality fashion products to domestic customers through online platforms. The Vinatex Product Development and Business Centre has become a reliable shopping destination for consumers favouring Vietnamese goods thanks to a diverse range of products and designs that meet different consumers’ taste. So far, the centre has attracted over 100 suppliers across the country with over 60,000 product codes. The center has sold more than 500,000 products per year, achieving annual sales of 100 billion VND and meeting the demand of over 300 customers daily. These results show that Vietnamese consumers are increasingly interested in domestic products.

Stimulating consumer demand

In 2024, the total retail sales of goods and consumer service revenue was estimated to reach 6,391 trillion VND, an increase of 9% compared to 2023. In the first two months of 2025, the revenue was estimated at 573.3 trillion VND, a 2.7% increase compared to the previous month and a 9.5% increase compared to the same period last year. These figures show that domestic market growth was stable, bolstering the economy in the face of global headwinds. Economic expert Vu Vinh Phu said retail companies are anticipating new trends in the market, and expecting purchasing power to rise in the near future. This is key motivation to boost the growth of domestic market in the coming time. However, with the government's target of achieving retail and consumer revenue growth of about 12% in 2025, the remaining months will need to maintain an average growth rate above 12% to meet this goal.

Therefore, the Ministry of Industry and Trade is focusing on consumer stimulus programmes to create new growth momentum and promote the consumption of domestic products across traditional and e-commerce channels. Additionally, the ministry is organising concentrated promotional programmes, trade fairs, and consumer promotion events in major cities and areas with high consumption potential. It encourages and supports businesses in applying digital technology to personalise promotional programmes, effectively reaching target customers. Nguyen Kieu Oanh, Deputy Director of the Hanoi Department of Industry and Trade, said that the city will expedite the progress of shopping centers, supermarkets, and support distribution companies in developing business networks to combine traditional commerce with online business. Furthermore, the city continues to promote the effectiveness of the campaign "Vietnamese People prioritise Vietnamese Goods", and develop points to sell One Commune One Product (OCOP) items, as well as strengthen regional linkage programmes to connect supply and demand. Oanh said the city will continue to implement consumer stimulus programmes and concentrate promotional months in 2025, with discounts of up to 100%, and encourage businesses to reduce prices and launch their own promotional programmes./.