Vietnam’s retail market will continue to grow strongly this year, with lots of opportunities to develop modern retail systems in rural areas, according to Phan Lan Chi, deputy director of supermarket chain Lan Chi Mart.
Hanoi (VNA) – Vietnam’s retail marketwill continue to grow strongly this year, with lots of opportunities to developmodern retail systems in rural areas, according to Phan Lan Chi, deputydirector of supermarket chain Lan Chi Mart.
The Nielsen market research company reported thedemand for consumer products has continued to increase sharply in Vietnameserural areas with purchasing power of more than 20 billion USD per year.
Many businesses have shifted investment tobuilding supermarket chains and convenience stores in rural residential areas.
Vingroup, for example, has opened more than1,500 Vinmart+ convenience stores across 30 cities and provinces since March2017.
In the northern region, Lan Chi Mart hasexpanded its distribution system in rural areas with 25 supermarkets insuburban areas of Hanoi and some provinces.
After 11 years of investing in supermarkets andHapromart convenience stores, the retail network of Hanoi Trade Corporation(Hapro) has reached Thai Binh, Quang Ninh and Thanh Hoa provinces, in additionto Hanoi.
Residents in Hanoi’s suburban areas such asThuong Tin, Dan Phuong, Hoai Duc, Phuc Tho, Thanh Oai and Chuong My districts havesaid the presence of Lan Chi Mart, Vinmart and Hapromart has enabled them tobuy various kinds of high quality products.
Director of the Northern Region Nielsen VietnamDang Thuy Ha said apart from ensuring the quality of products, an importantfactor to attract rural customers is reasonable prices.
To develop the market in suburban areas, theHanoi Department of Industry and trade has mobilised enterprises to organiseabout 200 mobile sales trips to remote districts, communes and industrial parks.-VNA
Urbanisation brings rural consumers, accounting for 68 percent of the country’s 90 million people, closer to their counterparts living in towns and big cities and to a diversified media world.
Businesses should bring their new products to rural areas as the consumption in the rural market is equal to that of the urban market, Nielsen Vietnam said in its fast moving consumer goods report.
Facing increasing competition from the arrival of many world leading retailers, domestic retailing companies are turning their eyes to the rural market to capitalise on the advantage of home ground.
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A Vinmart+ convenience store (Photo: VNA) 
