Vietnam Retail Market Size, Share, Industry Trends, Growth and Report 2025-2033

Vietnam Retail Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Size in 2024: USD 298.2 Billion

Market Forecast in 2033: USD 1,032.6 Billion

Market Growth Rate (2025-33): 13.6%

The Vietnam retail market size reached USD 298.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 1,032.6 Billion by 2033, exhibiting a growth rate (CAGR) of 13.6% during 2025-2033. The market is expanding due to population growth, global retailer expansion, and modern retail formats. A rising population increases demand, while global retailers enhance competition, infrastructure, and product variety. Modern retail formats including supermarkets, malls, and e-commerce, improve convenience and shopping experiences, which further drives the market share.

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Vietnam Retail Market Trends and Drivers:

The trend reshaping the Vietnamese retail landscape with most impact is when formerly clear lines separating the digital and physical worlds erode. Digital and physical, online and offline are not separate worlds today. They are intertwined within an omnichannel world. In this world consumers expect consistent and integrated experiences across all touchpoints. Smartphones and social media platforms in the country caused this rise in addition to Zalo, Facebook, and TikTok Shop providing homegrown alternatives. As a result, brick-and-mortar retailers are rushing to digitize their operations by adopting a "click-and-collect" business model, where items can be ordered through the app and collected at the physical store within hours in urban Ho Chi Minh City and Hanoi. Conversely, e-commerce pure-plays have begun opening stores both experience-led flagship stores and click-and-collect pick-up counters at calculated locations in order to engender experience and consumer trust in the brand. Developed logistics networks remain an important pillar of this strategy. Same-day last-mile delivery becomes common in core metropolitan areas. Before becoming an omnichannel imperative, a competitive advantage existed, and retailers invested heavily into unified customer relationship management systems. The systems view each customer, target promotions, and show inventory across digital and physical channels.

The consumer mindset shifts gradually from impulse-based purchases toward information-based purchases. While there is an increase in disposable income, post-COVID-19, discretionary purchases are increasingly made with an emphasis toward long-term value and personal well-being, rather than on short-term pleasure. Consumers also seek product claims of quality and authenticity and source more sustainably. That is clear as organic food and sustainable products grow rapidly and consumers increasingly read ingredients labels to look throughout supply chains for purity and environmental credentials. A strong example of this trend is domestic health and wellness brands which draw on local credentials and cultural knowledge to compete with multinational companies. The private label sector of modern trade is also making a comeback as retailers look to offer higher-quality own-brand products that are superior to manufacturer brands but affordably priced, appealing to this consumer group. This makes it more difficult for other market actors to compete solely on price. They must invest in openness and transparency across the supply chain, verifiable credentials and marketing that tells a story to a consumer segment which now regards their spending as investments in their family's health and, ultimately, in a sustainable future.

As the country's retail evolution moves beyond the two largest cities which are now over-built, smart retailers are looking to secondary cities such as Hai Phong, Da Nang and Can Tho, as well as developing hubs in rural areas, where investment in infrastructure and growing access to the internet are unlocking important pent-up demand. The areas are growing faster than the existing metropolitan areas regarding retail spending, and there is a growing number of people in the emerging middle class with pent-up demand. Suppliers expanding into these areas need to be able to understand the local preferences, distribution networks, and price points and capabilities. In response, many of these modern commerce players are rolling out smaller hypermarket formats into smaller local trade areas and consumption baskets, and regional shopping malls are becoming more social and entertainment hubs. They are being joined by the rollout of national logistics and fulfillment networks that can reliably deliver into those trade areas, delivering true integrated commerce capability nationally. It is to this group that we must look for the most meaningful untapped scalable, sustainable growth opportunity.

Vietnam Retail Market Industry Segmentation:

Product Insights:

Food and Beverages
Personal and Household Care
Apparel, Footwear and Accessories
Furniture, Toys and Hobby
Electronic and Household Appliances
Others

Distribution Channel Insights:

Supermarkets and Hypermarkets
Convenience Stores
Specialty Stores
Online Stores
Others

Regional Insights:

Northern Vietnam
Central Vietnam
Southern Vietnam

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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Key highlights of the Report:

Market Performance (2019-2024)
Market Outlook (2025-2033)
COVID-19 Impact on the Market
Porter's Five Forces Analysis
Strategic Recommendations
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Contact Us:

IMARC Group

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Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

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About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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