The Vietnam retail market size reached USD 338.7 Billion in 2025, and it is projected to grow to USD 1,055.8 Billion by 2034. The market is expected to expand at a CAGR of 13.46% during the forecast period of 2026-2034. Key growth drivers include population growth, expansion by global retailers, and the rise of modern retail formats like supermarkets, malls, and e-commerce, which enhance convenience and product variety, boosting overall market demand.

Study Assumption Years

• Base Year: 2025

• Historical Years: 2020-2025

• Forecast Period: 2026-2034

Vietnam Retail Market Key Takeaways

• The Vietnam retail market was valued at USD 338.7 Billion in 2025.

• It is expected to grow at a CAGR of 13.46% from 2026 to 2034.

• The market size is forecasted to reach USD 1,055.8 Billion by 2034.

• Expansion of international retailers is improving shopping experiences and infrastructure.

• Vietnam's population is projected to reach 106.7 million by July 2025, boosting retail demand.

• The rise of modern retail formats including e-commerce and malls is changing the retail landscape.

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Market Growth Factors

The growth of the retail market in Vietnam is affected by the increasing population. According to the United States Census Bureau, Vietnam's population will likely reach 106.7 million by July 2025. This figure will demand household consumption of food, clothing, electronics, personal care, and other products. More people living in cities increases demand for supermarkets, malls, and convenience stores. E-commerce, digital payments, and omnichannel shopping are popular with the youth demographic. The youth demographic is adept at using mobile and online platforms.

The entry of overseas retailers into Vietnam is changing the landscape of the retail sector by investing in department stores, supermarkets, and e-commerce companies, and creating competition and efficiencies. A Tata Group subsidiary, Titan Company, opened a watch kiosk in Vincom Mega Mall in Ho Chi Minh City in March 2024. Such entrants help to support the development of supply chain, warehouse, logistics and other infrastructure, and introduce international quality standards that later spur innovation and improvements in local firms.

Modern retail, including supermarkets, hypermarkets, convenience stores, shopping malls and electronic commerce stores, is growing in appeal in Vietnam among customers because of convenience, assortment and services. Vietnam Post launched nongsan.buudien.vn in December 2024, Vietnam's first e-commerce platform for high-quality agricultural commodities, which enables farmers to sell agricultural products online. It allows local businesses to participate in the digital economy by easing online checkouts, artificial intelligence-based recommendations, omnichannel retailing, thus improving the shopping experience, retail sales and market.

Market Segmentation

Product Insights:

• Food and Beverages: Covering a range of consumer foods driving retail sales.

• Personal and Household Care: Products catering to daily hygiene and household needs.

• Apparel, Footwear and Accessories: Consumer spending on clothing and related items.

• Furniture, Toys and Hobby: Including household furniture and recreational products.

• Electronic and Household Appliances: Sales of consumer electronics and appliances.

• Others: Various other retail products contributing to the market.

Distribution Channel Insights:

• Supermarkets and Hypermarkets: Offering fresh produce, packaged foods, and household items.

• Convenience Stores: Rapidly expanding, providing ready-to-eat foods and essentials in urban areas.

• Specialty Stores: Focused retail outlets managing niche products.

• Online Stores: Growing e-commerce platforms facilitating quick delivery and digital payments.

• Others: Additional retail channels not classified above.

Regional Insights

The report covers comprehensive analysis of the three major regional markets in Vietnam: Northern Vietnam, Central Vietnam, and Southern Vietnam. Although specific data metrics for each region are not disclosed, these regions represent key hubs in the retail ecosystem, indicating diverse and region-specific retail consumption patterns across Vietnam.

Recent Developments & News

In December 2024, South Korean retailer E-land announced plans to expand with the opening of 10 WhoAU stores in key locations across Hanoi and Ho Chi Minh City in 2025. Earlier in October 2024, Samsung Vietnam inaugurated Samsung West Lake, a new retail store in Lotte Mall West Lake, Hanoi, featuring four 'experience zones' and showcasing AI-powered devices. The store provides immersive experiences inspired by Hanoi's cultural heritage, enhancing customer engagement.

Key Players

• Tata Group (Titan Company)

• E-land

• Samsung Vietnam

Customization Note:

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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