Modern trade channels, e-commerce to be further thrive: experts

Modern and online shopping channels recorded strong growth last year and will continue to thrive this year, according to experts.

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Nielsen Vietnam’s retail chain consulting said the COVID-19 pandemic has boosted online shopping and more consumers would choose to shop online even after the pandemic ends.

As of December there were around 8,500 stores nation-wide, including 453 supermarkets and 5,566 minimarts with the rest being convenience, health and beauty, drug, and cash & carry stores.

There is a fierce competition in the retail market, and so each chain has to identify its strengths to retain competitiveness.

According to the Ministry of Industry and Trade, average retail sales and consumer services revenue per capita increased from 19.3 million VND in 2010 to 51.2 million VND in 2019, accounting for 8 percent of GDP.

E-commerce, supported by electronic payment, has grown especially strongly in recent years, averaging over 27 percent growth, it said./.

VNA