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Foreign retailers pose threat to small businesses: Seminar
Mom-and-pop stores in Vietnam are facing a serious threat from foreign retailers, Pepsi International Vietnam’s Vice President of Sales Lam Van Hai said at a seminar on Monday.
More foreign retailers have been allowed in this year, piling pressure on local businesses who need to tweak their distribution system, he said.
But it is difficult to do that at a time of recession when 95 percent of local consumers cut their expenses.
Pepsi is one of the most successful foreign firms in Vietnam, with over 300,000 outlets across the country.
Cao Thi Ngoc Dung, chairwoman of Phu Nhuan Jewelry, said foreign retailers bring marketing strategies that local businesses find hard to match.
The chairwoman said her company plans to continue with its strategy of expanding throughout the country this year even if it faces competition from foreign retailers.
Improving distribution should be a priority for local businesses if they want to cope with foreign retailers, senior business executives attending the seminar said.
Minh Quang
thanhnien
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