VNA
Retailers urged to toss out outdated practices
The Vietnamese retail market has huge potential, but local investors are frittering away the advantage by failing to develop modern retail, a senior industry-trade official has warned.
The Ho Chi Minh City-based Saigon Union of Trading Co-operatives (Saigon Co.op) has continued to grace the top 500 Asia-Pacific retailers in 2015, reported the Saigon Giai phong newspaper.
This is the 12th consecutive year Saigon Co.op has been recognised as a leading retailer by the Retail Asia Publishing and Euromonitor International.
Furthermore, the group also ranked among the top five retailers in Vietnam this year.
Saigon Co.op owns an expanding retail system across the country, including the Co.opmart supermarket chain, Co.op Food Stores, Ben Thanh Store, the HTV Co.op Shopping Channel, the Co.op Xtraplus Thu Duc hypermarket in HCM City and Sense City trade centre in Mekong Delta Can Tho city.
Retail Asia Publishing determined the ranking based on annual surveys conducted by the market research firm Euromonitor International, measuring enterprises from 14 countries and territories including Australia, China, Hong Kong, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, Taiwan and Vietnam.
The selection criteria include retail sales, growth rate, business areas and the number of stores.
The organising board will compile a list of the top 500 enterprises in the region and a list of the top 10 retailers in individual countries.-VNA
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