The Vietnam Retail Industry market report segments the industry into By Product Type (Food, Beverage, and Tobacco Products, Personal Care and Household Care, Apparel, Footwear, and Accessories, Furniture, Toys, and Hobby, Industrial and Automotive, Electronic and Household Appliances, Other Products) and By Distribution Channel (Hypermarkets, Supermarkets, Specialty Stores, Department Stores, and more.)

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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 market is experiencing significant growth, driven primarily by the increasing demand for convenience food products and the emergence of urban lifestyles. With a growing population and rising disposable income, Vietnamese consumers are increasingly opting for quick and easy meal solutions, fueling the growth of the convenience food sector. Furthermore, urbanization is transforming the retail landscape, with more consumers living in cities and seeking out modern retail formats for their shopping needs. However, challenges persist in the market. Logistical and supply chain operations remain a significant hurdle, with inconsistent supply chains and inefficient distribution networks hindering growth potential. Additionally, regulatory hurdles impact adoption, with strict regulations governing foreign investment and product imports. Companies seeking to capitalize on market opportunities must navigate these challenges effectively, investing in robust supply chain solutions and adhering to local regulations to succeed in the Vietnamese retail market.

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

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In the dynamic retail market, customer segmentation plays a crucial role in driving growth and competition. Retailers employ various strategies, such as social media marketing and content marketing, to engage with diverse consumer groups. Retail trends indicate a rapid tech adoption, with ecommerce platforms, digital advertising, and email marketing leading the charge. Retail expansion continues to be a focus, with modern retail innovations like virtual assistants and same-day delivery shaping the industry. Traditional retailers are adapting to digital transformation through omnichannel strategies, seeking competitive advantages in an increasingly crowded market. Consumer trends favor personalized shopping experiences, leading to the rise of department stores offering brand loyalty programs and predictive analytics. Retail investment is surging in sectors like last-mile delivery, mobile app development, and cross-border e-commerce. Online payment security remains a priority, as retailers navigate the challenges of fraud detection in the digital age. Convenience stores and traditional retailers alike are embracing technology to enhance the shopping experience and maintain market penetration.

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 ChannelOfflineOnlineTypeGroceryElectronics and appliancesHome and gardenHealth and beautyOthersChannelCashDigital paymentBuy now pay later (BNPL)Store TypeSupermarketsConvenience StoresOnlineSpecialty StoresGeographyAPACVietnam

By Distribution Channel Insights

The offline segment is estimated to witness significant growth during the forecast period.

In Vietnam's dynamic retail market, both local and international players are vying for dominance through various store formats, including malls, supermarkets, and convenience stores. Supermarkets, in particular, are popular due to their extensive offerings of food, beverages, non-food items, and household appliances, catering to consumers' daily needs. Physical stores remain prevalent, but digital channels are gaining traction. Mobile shopping, digital marketing, and cloud computing are transforming the retail landscape. Loyalty programs, consumer behavior, and customer experience (CX) are key focus areas for retailers. Joint ventures and retail partnerships are common strategies for expanding market reach. Machine learning and retail analytics are utilized for product innovation and pricing strategy. Omnichannel retail, online retail, and big data are shaping the future of retail. Food and beverage, fashion retail, consumer electronics, and home and furniture are popular sectors. Retail technology, including digital wallets, mobile payments, warehouse management, and payment gateways, are essential for efficient operations. Luxury goods and brand awareness are important for high-end retailers. Social commerce and travel and tourism are emerging trends. Grocery delivery, inventory management, and data analytics are critical components of the retail infrastructure. Supply chain and retail automation are crucial for ensuring seamless operations. Subscription services and online marketplaces are also gaining popularity. The market is an intriguing blend of traditional and modern retail, with constant innovation and evolution.

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The Offline segment was valued at USD 159.60 billion in 2019 and showe

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.

The Vietnamese retail market, valued at $276.37 million in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 12.05% from 2025 to 2033. This expansion is fueled by several key factors. Rising disposable incomes among Vietnam's burgeoning middle class are driving increased consumer spending on a wider range of goods and services. The rapid urbanization of the country concentrates purchasing power, creating lucrative opportunities for both established players and emerging retail formats. Furthermore, the increasing adoption of e-commerce and digital payment systems significantly expands market reach and consumer convenience, fostering further growth. Significant foreign direct investment in the sector, particularly from established Asian retail giants like Central Group and Lotte, contributes to market sophistication and infrastructure development. However, the market is not without its challenges. Competition remains fierce, particularly amongst large retailers vying for market share. Maintaining profitability in a rapidly evolving environment requires agile strategies, efficient supply chains, and a strong understanding of shifting consumer preferences. Infrastructure limitations in certain regions, particularly in rural areas, can hinder broader market penetration. Furthermore, maintaining competitiveness necessitates adapting to changes in consumer behavior and technological advancements while managing increasing labor costs. Key players, including Saigon Co op, VinGroup, AEON, and 7-Eleven, are leveraging both online and offline strategies to address these challenges and maintain their competitive edge within the Vietnamese retail landscape. The continued development of robust logistics and supply chain infrastructure will be pivotal in unlocking the full potential of this dynamic market. 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 2022, e-commerce sales accounted for seven percent of the total retail sales in Vietnam. In that year, the value of retail sales of goods and services amounted to over 4,789 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 16.4 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 63 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.

Vietnam AI in Retail Market is projected to reach USD 637.32 million by 2032, growing at a CAGR of 25.55% from 2024-2032.

Retail Sales in Vietnam increased 10.20 percent in May 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.

The Vietnam retail market, valued at $252.90 billion in 2025, exhibits robust growth potential, projected to expand at a Compound Annual Growth Rate (CAGR) of 13.64% from 2025 to 2033. This rapid expansion is fueled by several key drivers. Rising disposable incomes among Vietnam's burgeoning middle class are significantly boosting consumer spending across various retail segments, including grocery, electronics and appliances, home and garden, and health and beauty products. The increasing adoption of e-commerce platforms and digital payment methods is further accelerating market growth, particularly in urban areas. Government initiatives promoting infrastructure development and foreign direct investment are also creating a favorable environment for retail expansion. However, the market faces challenges such as intense competition among both domestic and international players, logistical hurdles in reaching remote areas, and the evolving needs of a digitally-savvy consumer base. The market segmentation reveals a strong presence of both offline and online distribution channels, with a diverse range of product categories contributing to the overall market value. Key players like 7-Eleven, AEON, and Berli Jucker are strategically positioning themselves to capitalize on the growth opportunities, leveraging both omnichannel strategies and strong brand recognition to maintain market share. The competitive landscape is dynamic, with companies employing various strategies to gain market dominance. These include aggressive expansion of store networks, strategic partnerships, and investments in technology to enhance customer experience and supply chain efficiency. Understanding the nuances of different consumer segments, particularly the preferences of younger demographics, is crucial for success. The ongoing development of modern retail infrastructure and the government's focus on improving logistics will play a significant role in shaping the future of the Vietnamese retail sector. Risks include economic volatility, fluctuating consumer confidence, and the potential for disruptions to global supply chains. Despite these challenges, the long-term outlook for the Vietnam retail market remains positive, driven by continued economic growth, rising consumer spending, and the ongoing digital transformation of the retail sector.

In 2018, groceries accounted for the highest share in the retail market of Vietnam at 44 percent. According to an analysis from McKinsey and Euromonitor, the retail market in Vietnam was valued at 108 billion U.S. dollars.

In 2021, traditional grocery retailers accounted for 89 percent of the total grocery retail sales in Vietnam. In that year, the grocery retail sales in the country reached a value of 53.2 billion U.S. dollars. Though accounting for over ten percent of the total grocery sales, modern retailers such as supermarkets, hypermarkets, and convenience stores have observed an increase in sales in recent years.

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.

[Keywords] Market include GS Retail, Aeon Citimart, Lotte, Big C, GS25

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Thailand Retail Market Size 2025-2029

The Thailand retail market size is forecast to increase by USD 49.69 billion, at a CAGR of 6.9% between 2024 and 2029.

In the dynamic market, several trends are shaping the industry landscape. The increasing preference for convenience and quick service, particularly in sectors like fast food and apparel, is driving market growth. Digital payment methods, such as LED and smartphone transactions, are gaining traction, streamlining the shopping experience. Telemedicine and digital health are revolutionizing the personal care sector, offering consumers on-demand healthcare services. In the realm of digital commerce, fresh food and FMCG categories are witnessing significant sales growth through e-commerce platforms. Artificial intelligence and data analytics are transforming logistics and supply chain management, ensuring efficient delivery of meal kits and other goods. 


Live streaming and meal kit services are disrupting the food service industry, offering consumers a unique dining experience. Travel retail is embracing digital commerce, with convenience stores and e-commerce platforms catering to the needs of travelers. The retail sector is also grappling with challenges, such as the threat from counterfeit products and the need for advanced packaging solutions to maintain product integrity. Overall, the retail market is witnessing a digital transformation, with technology playing a pivotal role in shaping consumer behavior and market dynamics.

What will be the Size of the Market During the Forecast Period?

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The market encompasses various sectors, including grocery, apparel, footwear, home and garden, convenience food products, and processed meat. This dynamic market exhibits continuous growth, driven by shifting consumer preferences and trends. Working women, striving for financial independence, increasingly turn to online shopping for convenience. However, challenges persist, such as card abandonment and high product return rates, which e-commerce players must address to ensure customer satisfaction.


Travel, food service, commercial assessments, and online food service are also significant contributors to the retail landscape. Emerging trends include media and entertainment, healthcare and wellness, technology products, and niche markets like live streaming engagement and cross-border e-commerce. The retail industry's size and direction reflect the evolving needs and preferences of a diverse consumer base.

How is this market segmented and which is the largest segment?

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.

Product

  Grocery
  Apparel and footwear
  BPC
  Home and garden
  Others


Distribution Channel

  Offline
  Online


Pricing Scheme

  Cash
  Digital payment
  Buy now pay later


Geography

  Thailand

By Product Insights

The grocery segment is estimated to witness significant growth during the forecast period. The market, driven by the grocery sector, experiences significant growth due to increasing consumer numbers and expanding product offerings from both domestic and international retailers. Convenience stores showcase strong growth, as consumers prefer purchasing daily grocery requirements from nearby shops. Hypermarkets, supermarkets, and other retail outlets also expand rapidly, catering to the demand for a wide range of household groceries under one roof. Key retail formats in the Philippines and Vietnam markets also witness similar trends, with e-commerce players gaining traction due to increasing internet and smartphone penetration.
Consumer behavior shifts toward financial independence, online shopping, and digital transformation. E-commerce platforms address this trend, offering counterfeit product protection and seamless digital consumer journeys. Cross-border ecommerce, sales channel analysis, and consumer engagement models further influence the evolving retail landscape. Actionable insights for strategists aim to inform decisions and drive strategic moves in the digital commerce space.

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Market Dynamics

Our Thailand Retail Market researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of Thailand Retail Market?

Growing demand for convenience food products is the key driver of the market. The market exhibits dynamic trends, particularly in sectors such as Grocery, Apparel, Footwear, Home and garden, and Convenie

The Commercial Real Estate in Vietnam is Segmented by Type (Offices, Retail, Industrial, Logistics, Multi-family, and Hospitality) and Key Cities (Ho Chi Minh City, Hanoi, Quang Ninh, Da Nang, and Rest of Vietnam). The report offers market size and forecast for Vietnam's commercial real estate market in value (USD billion) for the above segments.

The Vietnam Foodservice Market size was valued at USD 22.32 Billion in 2024 and is projected to reach USD 51.43 Billion by 2032, growing at a CAGR of 11% from 2026 to 2032.

Vietnam Foodservice Market Drivers

Rising Disposable Income and Urbanization: Growing income levels and rapid urbanization are driving increased spending on dining out, convenience foods, and premium dining experiences. As more people move to cities, demand for diverse and high-quality foodservice options continues to expand. Urban residents spend approximately 75% more on dining out compared to their rural counterparts, with major cities like Ho Chi Minh City and Hanoi seeing a 32% increase in foodservice establishments between 2021-2023.

Digital Adoption and Food Delivery Growth: The widespread adoption of digital platforms, mobile apps, and e-payment solutions has fueled the growth of online food delivery services. The rise of food aggregators and quick-service delivery options has made dining more accessible and convenient for consumers. Vietnam's food delivery market has experienced explosive growth, with the Vietnam Digital Economy Report showing that online food delivery services reached USD 951 Million in 2023, a 157% increase from 2020.

International Cuisine Integration: The increasing exposure to global food trends and rising demand for international cuisines have transformed Vietnam’s foodservice landscape. Restaurants and cafes are incorporating diverse culinary offerings, catering to evolving consumer preferences and attracting both locals and tourists. The Vietnam Trade Promotion Agency reports that international restaurant chains grew by 43% between 2020-2023, with over 200 foreign food and beverage brands now operating in Vietnam. Local consumers are increasingly embracing international cuisines, with Japanese, Korean, and Western restaurants seeing a compound annual growth rate of 25% from 2021 to 2023.

Vietnam Software as a Service Market Share, Size, Growth, Trends, Analysis, By Business Application, By Offering, Competition Forecast & Opportunities, 2018-2028

The Vietnam OOH and DOOH Market Report is Segmented by Type (Static OOH [Traditional] and Digital OOH [Programmatic OOH and Others]), Application (Billboard, Transportation [Airports and Others (Buses, Etc. )], Street Furniture, and Other Place-Based Media), and End-User Industry (Automotive, Retail and Consumer Goods, Healthcare, BFSI, and Other End-User Industries). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for the Above Segments.

Vietnam commercial real estate market size reached USD 17.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 63.0 Billion by 2033, exhibiting a growth rate (CAGR) of 14.1% during 2025-2033. The growing demand for modern warehousing and distribution centers, increasing focus on eco-friendly building practices and green certifications, and rising demand for commercial properties, such as hotels, resorts, and retail spaces in tourist hubs, represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type.

In 2019, VinMart accounted for the highest share of outlets in the retail market of Vietnam at 53 percent. According to an analysis from McKinsey, the retail market in Vietnam was valued at 108 billion U.S. dollars.

Vietnam ICT Market was valued at USD 21.11 Billion in 2023 and is expected to reach USD 36.06 Billion by 2029 with a CAGR of 9.17% during the forecast period.