What retail channels are in Vietnam?

Vietnam’s Retail Landscape in 2022: Brick-and-Mortar Stores Reign Supreme

Vietnam’s retail landscape has been characterized by a robust presence of physical brick-and-mortar stores, which accounted for an impressive 67% of total retail sales in 2022. This dominance underscores the enduring power of traditional commerce in this vibrant market.

Brick-and-mortar stores offer tangible experiences that online platforms cannot fully replicate. Customers can physically inspect and interact with products, seek personalized advice, and enjoy the social aspect of shopping in physical spaces. These factors contribute to the enduring appeal of brick-and-mortar retail in Vietnam.

Smaller, independent stores have a significant presence throughout the country, particularly in local markets and residential areas. These stores cater to the day-to-day needs of consumers and provide a sense of familiarity and convenience. However, larger retailers and chain stores are also gaining ground, offering a wider range of products and services, including grocery, fashion, electronics, and household items.

Despite the growth of e-commerce, the physical presence of retail stores remains crucial for building brand awareness, establishing customer loyalty, and providing essential services to the population. Malls and shopping centers are popular destinations for both domestic and international shoppers, offering a diverse range of products, entertainment options, and dining experiences.

The resilience and adaptability of brick-and-mortar stores in Vietnam demonstrate the importance of understanding local consumer preferences and behaviors. While online shopping continues to gain traction, physical retail channels remain an integral part of the Vietnamese retail landscape and are likely to continue to play a significant role in the years to come.