The Vietnam Retail Market Report is Segmented by Product Type (Food, Beverage, and Tobacco Products, Personal Care and Household Care, and More), Retail Channel (Traditional Mom and Pop Retail, Modern Trade Retail, E-Commerce, and Others), and Format (Hypermarkets, Supermarkets, Convenience Stores, Department Stores, Specialty Stores, and Others). The Market Forecasts are Provided in Terms of Value (USD).

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Vietnam Retail Market Size 2025-2029

The Vietnam retail market size is forecast to increase by USD 278.7 billion, at a CAGR of 14.7% between 2024 and 2029. The Vietnam Retail Market is segmented by distribution channel (Offline, Online), type (Grocery, Electronics and Appliances, Home and Garden, Health and Beauty, Others), channel (Cash, Digital Payment, Buy Now Pay Later (BNPL)), store type (Supermarkets, Convenience Stores, Online, Specialty Stores), consumer segment (Urban Middle Class, Rural Consumers, Young Shoppers), and geography (APAC: Vietnam). This segmentation reflects the market's diversity, driven by strong demand for Grocery and Health and Beauty products among Urban Middle Class and Young Shoppers, growing Online channels with Digital Payment and BNPL options, and the dominance of Supermarkets and Convenience Stores for Offline purchases catering to both Rural Consumers and urban preferences across Vietnam in the APAC region.

Major Market Trends & Insights

Based on the Distribution Channel, the offline segment led the market and was valued at USD 212.20 billion of the global revenue in 2023.
Based on the Type, the Grocery segment accounted for the largest market revenue share in 2023.

Market Size & Forecast

Market Opportunities: USD 299.79 Billion
Future Opportunities: USD 278.7 Billion
CAGR (2024-2029): 14.7%

The market is experiencing significant growth, driven primarily by the increasing demand for convenience food products. This trend is closely linked to the emergence of urban lifestyles, as more consumers in Vietnam's cities seek out quick and easy meal solutions. However, this growth comes with challenges. Logistical and supply chain issues persist, posing significant obstacles for retailers looking to meet the surging demand for convenience foods. Efficiently managing the distribution and delivery of these products is essential for companies aiming to capitalize on this market opportunity and maintain a competitive edge. Navigating these challenges requires strategic planning and innovative solutions to ensure the timely and cost-effective delivery of convenience food products to consumers in Vietnam's urban areas. Companies that can effectively address these logistical hurdles will be well-positioned to thrive in this dynamic and expanding market.

What will be the size of the Vietnam Retail Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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In Vietnam's dynamic retail market, pricing optimization plays a crucial role in staying competitive. Consumer spending habits continue to shape the industry, with franchise models adapting to local preferences. Sustainability initiatives and compliance standards are increasingly important, driving retailers to prioritize environmental impact and social responsibility. Merchandising strategies and sales forecasting help businesses optimize profit margins and performance metrics, while product recall procedures and food safety regulations ensure customer satisfaction and protect against product liability. E-commerce fraud and intellectual property rights pose challenges, necessitating robust risk management and business intelligence. Sales data analysis and employee training are essential for addressing inventory shrinkage and supply chain disruptions. The grocery segment is the second largest segment of the type and was valued at USD 101.20 billion in 2023.
Competitor mapping and store security systems are crucial for market penetration and maintaining regulatory compliance. Consumer confidence is influenced by economic indicators, with private label brands gaining popularity. Retailers must navigate complex import/export regulations and adhere to consumer protection laws. Adopting a proactive approach to corporate governance and regulations compliance is vital for long-term success. Market trends include a focus on food safety, sustainability, and digital transformation. Retailers must balance these priorities with managing their workforce, implementing merchandising strategies, and addressing product liability concerns. Effective risk management and supply chain resilience are essential for mitigating the impact of potential crises.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Distribution Channel

  Offline
  Online


Type

  Grocery
  Electronics and appliances
  Home and garden
  Health and beauty
  Others


Channel

  Cash
  Digital payment
  Buy now pay later (BNPL)


Store Type

  Supermarkets
  Convenience Stores
  Online
  Specialty Stores


Consumer Segment

  Urban Middle Class
  Rural Consumers

Gain insights into the Vietnam retail market size at USD 250 billion in 2023 featuring segmentation, market performance, and digital transformation trends across supermarkets, e-commerce, and specialty stores.

In 2024, the total sales value of goods and services is expected to reach approximately *** quadrillion Vietnamese dong, reflecting a *****percent increase compared to the previous year. This figure included the sales value of the retail sector, accommodation and catering services, tourism, and travel services, as well as other services. The country‘s retail sales have shown signs of recovery after the impacts of the COVID-19 pandemic. Retail channels in Vietnam In Vietnam, traditional trade channels have remained dominant in the country’s retail landscape; however, modern retail channels could soon change this. The rise of the middle-class population and the expansion of modern retail channels such as supermarkets, mini stores, and department stores, as well as the convenient shopping experience that they offer, has led to a shift in shopping channel preferences among consumers. According to a survey among Vietnamese consumers, around ** percent of respondents revealed that they intended to increase their grocery purchases in large stores or one-stop shops. As of March 2023, Vietnam had over *** thousand convenience stores and mini supermarkets, mainly in big cities such as Hanoi and Ho Chi Minh City. Recovery from the COVID-19 pandemic The contribution of accommodation and catering services and travel services to total retail sales has decreased significantly in the past few years due to the negative impacts of the COVID-19 pandemic. However, after two years of restrictions, Vietnamese consumers have eagerly returned to shopping at stores, as well as travel. As a result, in 2023, the revenue from tourism and travel services experienced significant growth compared to the year prior. The removal of COVID-19-related restrictions was expected to revive the Vietnamese tourism industry, as well as boost the recovery of the retail sector.

The size of the Retail Market in Vietnam market was valued at USD 276.37 Million in 2024 and is projected to reach USD 612.88 Million by 2033, with an expected CAGR of 12.05% during the forecast period. Recent developments include: In October 2022, in order to connect all user interactions, whether they take place offline, online, in augmented reality, or even in the metaverse, the Central group launched the Next-Gen Omnichannel platform, which will encompass the Central Retail network in Thailand, Vietnam, and Italy., In February 2022, the fourth wave of the COVID-19 pandemic in HCM City caused several fluctuations in the supply chain of commodities, and modern retail businesses had to adapt by changing their distribution systems rather than continuing to play the traditional function of delivering items to customers on-site.. Notable trends are: Rapid Growth in Consumer Spending is a Driving Factor.

Retail Sales in Vietnam increased 7.20 percent in October of 2025 over the same month in the previous year. This dataset provides - Vietnam Retail Sales YoY - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Vietnam Retail Sales Growth

• Vietnam Retail Sales grew 8.7 % YoY in Feb 2025, compared with a 8.6 % increase in the previous month.
• Vietnam Retail Sales Growth YoY data is updated monthly, available from Sep 2004 to Feb 2025, with an average growth rate of 12.2 %.
• The data reached an all-time high of 31.6 % in Nov 2008 and a record low of -4.6 % in Oct 2021.
• In the latest reports, Car Sales of Vietnam recorded 15,676.0 units in Jan 2025, representing a drop of 6.1 %.

Discover the booming Vietnam retail market! This in-depth analysis reveals a $252.9B market with a 13.64% CAGR (2025-2033), driven by rising incomes and e-commerce. Explore key players, market segments (grocery, electronics, etc.), and future trends impacting this dynamic sector.

In Vietnam Retail Market is projected to grow from USD 2.3 trillion in 2025 to USD 3.7 trillion by 2031, at a CAGR of 8.2%

In 2018, groceries accounted for the highest share in the retail market of Vietnam at ** percent. According to an analysis from McKinsey and Euromonitor, the retail market in Vietnam was valued at *** billion U.S. dollars.

In 2022, the value of retail sales from household equipment and goods in Vietnam reached approximately 474 trillion Vietnamese dong, a slight increase compared to the year before. That year, the country's average consumer price index (CPI) of this segment was estimated at 102.03 index points.

Vietnam Retail Market size was valued at USD 297.5 Billion in 2024 and is expected to reach USD 952.6 Billion by 2032, growing at a CAGR of 15.6% from 2026 to 2032.

Vietnam Retail Market: Definition/ Overview

In Vietnam, retail is the direct sale of products and services to consumers through a variety of channels such as supermarkets, shopping malls, convenience shops, and e-commerce platforms.

Discover the booming Vietnamese retail market! This in-depth analysis reveals a 12.05% CAGR, key drivers, trends, and leading players like Saigon Co op and VinGroup. Explore market segmentation by product type and distribution channel, including the explosive growth of e-commerce. Get the data you need to understand this dynamic market's future. Recent developments include: In October 2022, in order to connect all user interactions, whether they take place offline, online, in augmented reality, or even in the metaverse, the Central group launched the Next-Gen Omnichannel platform, which will encompass the Central Retail network in Thailand, Vietnam, and Italy., In February 2022, the fourth wave of the COVID-19 pandemic in HCM City caused several fluctuations in the supply chain of commodities, and modern retail businesses had to adapt by changing their distribution systems rather than continuing to play the traditional function of delivering items to customers on-site.. Notable trends are: Rapid Growth in Consumer Spending is a Driving Factor.

In 2023, the value of retail sales of consumer goods and services in Vietnam increased to *** percent, reflecting a significant decline compared to the year prior. This value was forecasted to increase by **** percent in 2024.

In 2022, e-commerce sales accounted for ***** percent of the total retail sales in Vietnam. In that year, the value of retail sales of goods and services amounted to over ***** trillion Vietnamese dong. Since 2015, the e-commerce share of total retail sales has doubled in the country. B2C e-commerce landscape in Vietnam The revenue of the B2C e-commerce sector in Vietnam has been growing year on year, reaching approximately **** billion U.S. dollars in 2022. Shopee, owned by the Singaporean multinational technology company Sea, has been the leading e-commerce marketplace in Vietnam, accounting for ** percent of the total market share. Meanwhile, when it comes to electronics products, Vietnamese consumers have often opted for domestic e-commerce companies such as The Gioi Di Dong and Dien May Xanh. Vietnam's e-commerce growth post-COVID-19 recovery The COVID-19 pandemic has given rise to an increase in the usage of online shopping among Vietnamese consumers. While categories such as travel, mobility, and accommodation were already popular among online shoppers before the pandemic; today, consumers have shifted their preference to purchasing food and personal care online as individuals become more conscious of their health and personal lifestyles. As a result, food and personal care saw the highest growth of all e-commerce categories, as consumers place a higher priority on convenience and safety. In the future, this newly adopted shopping habit is expected to become another revenue stream of the e-commerce sector in Vietnam.

Global Vietnam Retail Market is segmented by Application (Food & beverage_Electronics_Apparel_Personal care_Home goods), Type (Supermarkets_Hypermarkets_E-commerce_Convenience Stores_Specialty Stores), and Geography (North America_ LATAM_ West Europe_Central & Eastern Europe_ Northern Europe_ Southern Europe_ East Asia_ Southeast Asia_ South Asia_ Central Asia_ Oceania_ MEA)

The total retail sales of cross-border e-commerce in Vietnam significantly increased from 2017 to 2021. In 2021, cross-border e-commerce retail sales in the country amounted to **** billion U.S. dollars. The country's retail sales of cross-border e-commerce were forecast to continue increasing and reached ***** billion U.S. dollars by 2026.

Vietnam Cloud Retail Market growth is driven by increasing digital transformation in the retail sector and the rising adoption of cloud technologies.

Vietnam Retail Sales: Domestic Sector data was reported at 3,076,600.000 VND bn in 2015. This records an increase from the previous number of 2,811,600.000 VND bn for 2014. Vietnam Retail Sales: Domestic Sector data is updated yearly, averaging 171,456.850 VND bn from Dec 1980 (Median) to 2015, with 36 observations. The data reached an all-time high of 3,076,600.000 VND bn in 2015 and a record low of 2.400 VND bn in 1980. Vietnam Retail Sales: Domestic Sector data remains active status in CEIC and is reported by General Statistics Office. The data is categorized under Global Database’s Vietnam – Table VN.H004: Retail Sales: Annual.

Vietnam Sports Equipment and Fitness Retail Market valued at USD 1.4 billion, driven by health awareness, rising incomes, and fitness trends. Growth fueled by urbanization and government initiatives.