Despite the Pandemic, Retail Consumption Gains Momentum in Vietnam!

According to 2019 Government figures, Young Population makes up about %55. Due to their active and engaging existence in social media and online shopping channels, there is promising evidence for investors in retail, food and beverage industry, fashion and accessories. According to new data from the Ho Chi Minh Municipal Statistics Office, total retail and service sales in the first 5 months of this year amounted to $19.8 billion. This is 8.9% higher when compared to last year's figures.

The first 5-month total trade revenue of this year is $11 billion, 9.5% higher than last year. Accommodation and Dining sectors, on the other hand, have reached a total of $1.3 billion with 30.8% growth compared to last year.

Foreign Investors are taking great concrete steps to get a share from this growing and developing market. Korea has recently demonstrated their intentions with investment of $400 millions for %5.5 stake in the local supermarket chains.

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