The Vietnam retail market size reached USD 338.7 Billion in 2025 and is expected to reach USD 1,055.8 Billion by 2034, exhibiting a CAGR of 13.46% during the forecast period 2026–2034. The growth is driven by population expansion, the entrance of global retailers, and the emergence of modern retail formats such as supermarkets, malls, and e-commerce platforms which enhance shopping experiences and convenience. The market shows robust potential due to increased demand from rising population and competitive international retail investments. 

Study Assumption Years

• Base Year: 2025

• Historical Year/Period: 2020-2025

• Forecast Year/Period: 2026-2034

Vietnam Retail Market Key Takeaways

• The market size in 2025 was USD 338.7 Billion.

• The CAGR is 13.46% for the forecast period 2026–2034.

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

• International retailers are expanding, introducing new shopping formats and boosting competition, infrastructure, and product variety.

• Vietnam’s population is expected to hit 106.7 million by July 2025, increasing consumer demand.

• Modern retail formats such as supermarkets, convenience stores, malls, and e-commerce channels are rapidly increasing.

• The rise of digital payments, AI-based retail technologies, and omnichannel retailing enhances shopping convenience and customer engagement.

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Market Growth Factors

The entry of international retailers into Vietnam builds upon the Vietnamese market by creating department stores, supermarkets and e-commerce platforms, to improve competition in the retail landscape, and build infrastructure for supply chains, warehouses and logistics. This activity can create jobs and introduce an international standard that requires locals to adapt. For example, Titan Company, a Tata Group subsidiary, made an opening of a watch kiosk in Vincom Mega Mall in Ho Chi Minh City in March 2024. It sells premium products and features high-tech services like products recommendation by artificial intelligence and self-checkout.

Vietnam's growing population is one of the major contributing factors to the growing retail sector. The United States Census Bureau estimated Vietnam's population at 106.7 million in July 2025. Due to high fertility and life expectancy, demand for food, apparel, electronics, and personal care products will increase. Rural-urban migration will also trigger demand for supermarkets, shopping malls, and convenience stores. A young, digitally savvy population is adopting e-commerce and digital payments, omnichannel shopping is gaining traction and more middle-class households are buying premium products.

Modern retail formats are beginning to change the face of the retail industry in Vietnam. The number of supermarkets, hypermarkets, family marts & convenience stores, and shopping centers, which act as lifestyle complete centers, has increased rapidly in recent years. In December of 2024, Vietnam Post opened its first e-commerce website with agricultural products. Retailers use tools such as automated checkout, kiosks, AI recommendations, and loyalty programs to give better customer service and client retention. These advancements ease a smooth online and offline shopping experience, driving onward into the market growth.

Market Segmentation

Product Insights:

• Food and Beverages: Significant segment encompassing fresh fruits, packaged foods, and household items, meeting growing consumer demands.

• Personal and Household Care: Products catering to personal hygiene and home cleaning needs.

• Apparel, Footwear and Accessories: Covers clothing, shoes, and fashion accessories reflecting evolving consumer preferences.

• Furniture, Toys and Hobby: Includes home furnishings, children's toys, and hobby-related products.

• Electronic and Household Appliances: Encompasses consumer electronics and household electrical goods.

• Others: Additional product categories contributing to market diversity.

Distribution Channel Insights:

• Supermarkets and Hypermarkets: Large retail formats offering various goods under one roof, facilitating convenient shopping.

• Convenience Stores: Rapidly growing stores focusing on ready-to-eat foods and daily essentials for urban consumers.

• Specialty Stores: Retail outlets specialized in certain product categories enhancing customer choices.

• Online Stores: E-commerce platforms transforming retail with online purchasing and quick delivery.

• Others: Other distribution channels supporting market accessibility.

Regional Insights

Northern, Central, and Southern Vietnam are the key regional markets covered. The report indicates a comprehensive analysis of these major regions but does not provide explicit data on dominance or specific statistics in the cleaned text. Thus, no single dominant region can be identified from the provided data.

Recent Developments & News

In December 2024, South Korean retailer E-land announced plans to open 10 WhoAU stores in Hanoi and Ho Chi Minh City in 2025. In October 2024, Samsung Vietnam inaugurated Samsung West Lake, a new retail store at Lotte Mall West Lake in Hanoi, featuring four experience zones and showcasing AI-powered smartphones and home appliances, with immersive experiences inspired by Hanoi’s cultural heritage.

Key Players

• Tata Group (Titan Company)

• E-land

• Samsung Vietnam

Customization Note

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