Vietnam’s ageing population is a powerful driver for growth in the pharmacy retail market. By 2035, one-fifth of Vietnamese people will be over 60 years of age, according to the United Nations. This demographic shift is driving surging healthcare demand in Vietnam–in 2020, Vietnam had the second-highest healthcare expenditure, as a percentage of GDP, in Southeast Asia, and per capita spending is projected to rise by 9.2 percent annually until 2025, according to a 2020 American Chamber of Commerce in Vietnam–known locally as AmCham–report…

Thai retailer kicks off construction of new mall in northern Vietnam

the-shiv July 1, 2024

Of note, Central Retail’s new mall aligns with the expansion plans of other major players in Vietnam’s retail industry, such as Japan’s Aeon, and South Korea’s Lotte Retail, as well as homegrown Masan, and Vincom Retail, which owns and leases-out a range of commercial spaces around Vietnam. It intends to open six new shopping malls in 2024. This is partly due to a positive outlook for Vietnam’s retail space rentals and the significant development potential of the retail market…

Vincom Retail to add 6 new malls in Vietnam in 2024

the-shiv June 21, 2024

Vincom Retail’s new malls align with a positive outlook for Vietnam retail space rentals. According to a CBRE market report released in May, in the first quarter of 2024, rental prices showed a steady increase per square meter, for ground/first floor spaces in non-CBD areas in Hanoi and Ho Chi Minh City, from US$30 and US$51 to US$30.6 and US$53.3, respectively…

Swiss high-end watchmaker opens outlet in Vietnam’s Ho Chi Minh City

the-shiv June 6, 2024

The number of ultra-high-net-worth individuals–persons with a net worth greater than US$30 million–has grown exponentially in recent years. According to Frank Knight’s Wealth Report 2024 estimates, Vietnam had 752 of these uber-rich at the end of 2023 and that number is expected to grow to 978 by 2028…

Ultra-luxury smart phone firm adds another Vietnam retail store

the-shiv May 20, 2024

The number of ultra-high-net-worth individuals–persons with a net worth greater than US$30 million–has grown exponentially in recent years. According to Frank Knight estimates, Vietnam had 1,059 of these uber-rich at the end of 2022.

Nearly three million small businesses selling goods on TikTok in Vietnam

the-shiv January 15, 2024

As of the end of November 2023, there were 2.8 million micro and small-t-medium sized businesses flogging their wares on TikTok, Tuoi Tre is reporting. The most common goods being sold were clothes, homewares, health and personal care products, electronics, and cosmetics. This is worth noting for foreign firms looking

Vietnamese spend US$1 billion in a month buying goods online

the-shiv December 29, 2023

Between the four major e-commerce platforms in Vietnam–Shopee, Lazada, TikTok Shop and Tiki–Vietnamese shoppers spent US$1.29 billion in November, Tuoi Tre is reporting. The publication cites an e-commerce report from YouNet ECI. Key points This was a 9.3 percent increase on October; Shopee accounted for 72.7 percent of sales; TikTok

Retail electronics price wars in Vietnam deterring foreign investors: FPT exec

the-shiv December 13, 2023

Electronics retailers are being driven to slash prices to keep up with their competitors and this is eating into profit margins which is deterring foreign investors, Ngo Quoc Bao, Senior Director of Corporate Customers and Customer Experience at FPT Retail has told Tuoi Tre. Of note, the article mentions that

Japanese home-furnishing retailer to set-up shop in southern Vietnam

the-shiv December 1, 2023

Nitori, a home-furnishings retailer from Japan is set to open its first in Vietnam’s Binh Duong province, in winter of this year, Japan Today is reporting. Vietnam has become popular among Japanese retailers keen to tap into Vietnam’s rapidly expanding middle-class. Other big Japanese retailers with a presence in Vietnam

Key retail strips in HCMC, Hanoi among the most expensive in the world

the-shiv November 23, 2023

Tuoi Tre is reporting that retail rents on Hanoi’s Trang Tien Street and Ho Chi Minh City’s Dong Khoi Street are among the most expensive in the world, according to Cushman & Wakefield. That said, the Main Streets Across the World Report 2023, from the aforementioned property managers, ranks HCMC’s

Vietnam digital economy to reach US$45 billion by 2025: Google, Temasek, Bain Report

the-shiv November 2, 2023

The e-Conomy SEA 2023, compiled by Google,Temasek Holdings, and Bain & Company has been released here’s what it says about Vietnam’s digital economy: Vietnam’s digital economy gross merchandise value, 2021 – 2030 2021 2022 2023 2025 2030 (US$ = Billions) US$ US$ % US$ % US$ % US$ Overall digital

Thailand cosmetics firm enters Vietnam market with retail store in Hanoi

the-shiv October 31, 2023

Harnn, a Thai cosmetics brand, has opened its first store in Vietnam in Hanoi, selling personal care and beauty products, Inside Retail is reporting. The brand is also planning to open a second store in Ho Chi Minh City later this year. Vietnam’s retail and cosmetics sectors have experienced high

Results of Vietnam’s TikTok inspection announced

the-shiv October 6, 2023

The Ministry of Information and Communications has announced the outcome of an investigation of TikTok’s practices in the country finding a number of breaches of Vietnamese law, VN Economy is reporting. Most of the breaches relate to the censoring of content on the platform and the removal of sensitive content.

Amazon exec on utilising the platform as an export avenue in VN

the-shiv August 31, 2023

The unique characteristics of a product, the ingredients, and environmentally friendly packaging are key details Vietnamese vendors should communicate on Amazon, according to Gijae Seong, head of Amazon Global Selling Vietnam, via an interview by The Investor. Seong says that often local firms tend to overemphasise the product as ‘made

Estée Lauder’s Aveda brand enters Vietnam market

the-shiv August 29, 2023

Cosmetics Design Asia has covered the Estée Lauder owned Aveda’s launch in the Vietnam market. It reads a bit like a press release but the crux of the article, that Vietnam presents a big opportunity for foreign cosmetics firms, is solid. Beauty care and beauty products are hugely popular in