NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/06/02 - Rising affluence along with increasing awareness about branded food products will trigger food retail sales in Vietnam to grow above 20% CAGR during 2010-2012, predicts RNCOS.
According to our latest industry research report “Vietnam Retail Analysis (2008-2012)”, 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. Government’s support and increasing consumer confidence have resulted in positive outlook for retailers in Vietnam over the previous years. The report further identifies that food retail industry, in particular, will continue to post extraordinary growth during 2010-2012 on the basis of strong market fundamentals discussed and analyzed thoroughly in the report.
The study reveals that food is the most important component of retail sales in the country, accounting for about two-thirds of the total sales. Traditional food retail channels are dominating the market at present, but government’s decision to allow 100% entry to foreign players under WTO commitment will lead modern retail to realize unrealistic growth in the food retail segment which is poised for around 20.3% CAGR during 2010-2012.
Apart from food products, non-food retailing is also growing fast in the country, representing nearly one-third of the total retail sales. We anticipate that increasing consumer expenditure on non-essential items such as clothing, electrical and DIY (Do-It-Yourself) goods along with various other factors, the non-food retail will register double-digit CAGR during our forecast period.
“Vietnam Retail Analysis (2008-2012)”, is the outcome of our extensive research and thorough analysis on the burgeoning retail industry and its components. The report also discusses the market structure, current and past market performance and factors critical to the success of the retail industry in Vietnam. It includes statistics and analysis on industry sub-segments such as clothing, footwear, cosmetics, furniture, consumer electronics, household cleaning products, etc. In addition, provincial-level retail industry analysis has also been covered to facilitate a balanced research outlook.
Most importantly, the report also gives industry forecast based on correlation of past drivers, challenges and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the Vietnam retail industry and will prove decisive for clients.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.