Central Retail in Vietnam has received an investment registration certificate to develop a 18.2 million USD mall under its GO! brand in Vietnam’s northern province of Hung Yen.

Retailers in Vietnam are increasing inventory and have launched promotions in anticipation of opportunities in the year-end shopping season, as there are just two months left until the Lunar New Year (Tet) – the biggest festival in a year of Vietnamese people.

Nearly 1,000 foreign enterprises from 28 countries and territories, including giants such as Boeing, Walmart, and Central Retail, have entered Vietnam to explore investment opportunities and seek partners since early September.

The presence of foreign-invested enterprises in Vietnam's retail sector has increased competition among businesses, jointly regulating supply and demand in the domestic market.

Retail stocks have dropped significantly due to the decline in business results in the context of the global economic recession and high interest rates.

Mobile phone and laptop distributors and retailers reported good revenue and profit in July, showing that business activity of companies operating in this field are on the rebound from the COVID-19 pandemic.

An alliance of retailers who pledged to reduce the use of disposable plastic bags made its debut at a ceremony held by the Institute of Strategy and Policy on Natural Resources and Environment (ISPONRE) under the Ministry of Natural Resources and Environment and Hanoi’s Department of Industry and Trade on January 14.

The Saigon Union of Trading Cooperatives (Saigon Co.op) is making every effort to remain a leading retailer in the country, said its General Director Nguyen An Duc at a meeting to launch the cooperative’s business tasks for 2021 on March 22.

Vietnam’s retail sector has actively adapted to better serve the rising number of customers now shopping online more often due to the COVID-19 pandemic.

With the growing middle class and increasing purchasing power, the consumer goods and e-commerce sector in Vietnam has become very attractive to Singaporean businesses.

Since joining the World Trade Organization in 2007, Vietnam’s retail sector has made big strides. However, shortcomings are still evident as it lacks connections between retailers.

Along with ensuring quality and safety, Vietnamese firms should make their products’ price suitable and meet customers’ demands to sell in foreign distribution channels, said Naohisa Saeki, AEON Vietnam’s Deputy General Manager.

Miniso, a Japanese lifestyle and fashion brand that sells merchandise such as homeware, bags and electronics at low prices, will soon be in Vietnam.

Several domestic retailers have been actively changing their business strategies to improve their distribution channels.

Domestic enterprises in the retail industry should strengthen their connections to take better advantages of resources and increase their competitiveness over foreign investors.

Premium packaging plays a crucial role during the run-up to the Tet (Lunar New Year) period, according to a Consumer Study report on Tet 2015 from market research firm Nielsen Vietnam.