Noida, India, December 18, 2009 --(PR.com
)-- In their latest market research offering, “Vietnam Retail Analysis (2008-2012)”, they have thoroughly analyzed Vietnam retail industry and its various segments. An extensive and conceptual evaluation of the industry exhibited a compact but dynamic retail market in Vietnam, which is developing by leaps and bounds even amid global economic slowdown. Almost all industry segments emerged as highly investment prone, contributing strongly to the overall growth of the retail industry.
As discussed in the report, the retail sector in Vietnam is much smaller as compared to other developing economies in Asia, but it has shown strong fundamentals and buoyant expansion in comparison of its neighbors like India and China. The market has been registering double-digit growth in recent years. Vietnam's accession to the World Trade Organization (WTO) has further opened the market for foreign investments, which will ultimately transform into even rapid market developments, driving the industry to experience a boom from 2009 onwards.
The report further revealed that food retail is currently dominating the overall retail industry. Food retail sales in Vietnam grew at a CAGR of over 16% during 2005-2008 and accounted for about two-third of the total retail sales. In addition, the non-food segment is also getting excellent response in view of growing interest for western-style shopping among people. Non-food retailing is basically driven by clothing, footwear, and cosmetics & toiletries segments. With rising income, consumers are becoming more fashion and look conscious, and spending more on their clothing and cosmetic products.
The report further reveals that some of the entirely new segments of the industry have been getting encouraging response from consumers. For example, food service sector is expanding at a much faster pace in urban centers, and the fast food sector, which is still in its infancy, is strengthening its roots, especially in service class population.
“Vietnam Retail Analysis (2008-2012)” provides an extensive and in-depth evaluation of Vietnam’s burgeoning retail industry and facilitates an all around market intelligence on all its prominent segments. The report provides quantitative as well as qualitative description of the past and current industry trends and leads towards conceptual future analysis. The report will help clients to identify factors critical for successful market planning and will facilitate an informed strategy development process which is quite essential with respect to Vietnam retail industry.
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RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.