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Experts say Vietnam’s retail market has potential
Foreign and domestic experts shared their experiences in developing Vietnam’s retail sales, distribution, and logistic at a workshop in Ho Chi Minh City on June 30.
Tinh Minh Triet, Director of the Best Fortune Company, emphasized that Vietnam is an open market for all models of retail. In order to build a strong national brand name for the retail sector, he said, it is necessary for domestic businesses to improve their effectiveness in management, control production expenses, and take advantage of their understanding of Vietnamese culture imbued in products.
Triet said the rural market, holding around 70 percent of Vietnam’s population, will also be a strategic market for low-price retails although its purchasing power is not as strong as in cities.
According to experts, goods like fast food, fresh food, fashion items, and information technology products will be potential for retail models. They believed supermarkets and shopping malls will be the kinds of retail models which will see great development for young people, women, and children.
The biggest problem facing the development of the retail sector is the lack of experience in management as it is a new form of business in Vietnam, said the attendees.
The workshop was held by the Vietnam Supply Chain Community.
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