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The retail market will remain quite attractive for foreign investors in Vietnam, according to Huynh Le Minh Tu, deputy director of the HCM City department of industry and trade, who recently said foreign retailers optimising the shopping experience for customer retention and applying multiple sales process metrics will have an edge in the market, he said.
Due to digital transformation in retail, many foreign retail businesses are constantly improving their technological applications for collection, storage, management and comprehensive data analysis, based on a solid, secure, flexible and self-operating cloud computing infrastructure, he was quoted as saying by Vietnamese news reports.
Hirai Shinji, chief representative of the Japan External Trade Organisation (JETRO) in Vietnam, said the Vietnamese retail market remains very attractive for Japanese investors. A recent JETRO survey found more than 55 percent of Japanese firms intend to expand their business in the country.
The retail market will remain quite attractive for foreign investors in Vietnam, according to Huynh Le Minh Tu, deputy director of the HCM City department of industry and trade, who recently said foreign retailers optimising the shopping experience for customer retention and applying multiple sales process metrics will have an edge in the market, he said.
According to the survey, conducted from August to September last year, more than 56 per cent of the firms expect higher profits this year, and only 9.6 per cent think their profit will reduce.
Major retailers like MM Mega Market Vietnam, Central, Aeon, LOTTE Mart and Emart implemented cashless payment methods for both online and offline shopping last year.
MM Mega Market Vietnam has started a multi-channel sales development strategy alongside completing its online sales solutions: website MM Click & Get; Zalo and Telesales. It also plans to launch an online shopping website for professionals with product prices and solutions designed for each specific customer.
MM said it will continue to invest and develop multi-channel sales, with its wholesale supermarket system implementing the Pick & Go software soon. AEON Vietnam would open more outlets in different locations with a variety of retail models, including shopping malls, department stores, supermarkets, convenience stores and specialised stores.
Furusawa Yasuyuki, general director of AEON Vietnam, said the company aims to open 30 shopping centres by 2030 along with other models.
The Republic of Korea’s Emart Vietnam Co., Ltd. (acquired by the Thaco Group) will operationalize two new shopping centres.
Fibre2Fashion News Desk (DS)
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