A billion-dollar breakthrough for the retail industry

Double boost from retail and tourism

After a period of being heavily affected by the pandemic and global inflation, 2025 opens with a different atmosphere: vibrant, hopeful and… thirsty for growth. Domestic and foreign retail businesses do not hide their ambition to expand their territory and dominate the market early.

On April 19, Aeon Vietnam - a "giant" from Japan - broke ground on the Aeon Trade Center in Hai Duong, marking an important step in its expansion strategy in Vietnam. With a total investment of up to VND1,180 billion, the project is expected to be completed in 2026, creating about 1,000 jobs and providing a modern shopping space with a floor area of ​​over 38,100 m².

Aeon continues to expand its store system in Vietnam (Photo: Aeon Vietnam)

Not simply a shopping mall, Aeon Hai Duong is developed as a "three-generation family paradise" - a model of living space, shopping, entertainment and connection between family members. The special point in Aeon's strategy is not only investing in modern retail infrastructure, but also deeply cooperating with local suppliers, promoting the consumption of high-quality Vietnamese goods, supporting regional economic development and enhancing the competitiveness of the domestic supply chain.

This is not an isolated case. Uniqlo retail chain has also entered Hue – an emerging market thanks to the strong development of tourism and urban transformation. The Hue store is the 29th store in Vietnam and the first in the Central region. Here, Uniqlo takes advantage of local culture to develop products, collaborating with young artists to create a line of shirts printed with conical hats and Sinh village paintings – a smart move to win the hearts of local customers and tourists.

In Ho Chi Minh City, the domestic brand Alluvia Chocolate – famous for its pure Vietnamese cocoa products – is also expanding its presence in prime locations such as Le Loi Street. It is worth noting that even though it already has two points of sale next to each other, the brand is still looking to increase its reach to consumers, showing confidence in the resilience of the retail industry in the context of a strong recovery in domestic and international tourism.

It is no coincidence that many retail businesses choose “tourist capitals” such as Hue, Da Nang, Hoi An or Nha Trang to expand their distribution systems. Tourism – considered a “companion” of the retail industry – is making an impressive comeback.

In Hue, tourism revenue in the first quarter of 2025 is estimated to reach more than VND2,600 billion, an increase of more than 52% over the same period in 2024. This year, the locality will also host the National Tourism Year 2025, expected to bring in tourism revenue of VND10,800-11,200 billion - a number that cannot be ignored by retailers targeting the customer segment with high demand for consumption, experiences and local gifts.

The recovery and boom of the tourism industry has created a new group of customers – those who are willing to spend on regional products, convenient products and high-end services. This makes retail no longer a “modernized traditional market” but is shifting to a “life experience center”.

Domestic Market: A Strategic Pillar for Growth

Faced with geopolitical fluctuations and disruptions in global supply chains, Vietnam has identified domestic market development as an important pillar to ensure sustainable economic growth. The target of increasing total retail sales of goods and consumer services revenue by 12% by 2025 is a challenging goal, but not impossible given current developments.

According to a report from the Ministry of Industry and Trade, in the first quarter of 2025, total retail sales of goods and consumer service revenue are estimated to increase by 9.9% over the same period last year - a positive start, reflecting the recovery of domestic consumption. Consumer confidence is gradually being strengthened in the context of stable interest rates, improved incomes and a modern distribution system that continues to reach remote areas.

In addition, consumer stimulus programs, Vietnamese goods fairs, and local goods weeks in major cities and provinces are proving effective in boosting purchasing power at the grassroots level. Many cities and provinces, including Hai Duong, are implementing synchronous solutions to develop modern distribution systems in conjunction with supporting domestic production, helping to connect local products with large-scale consumer markets.

Vietnam's retail market in 2025 is clearly enjoying "heavenly time, favorable terrain, and harmony between people". The strong participation of domestic and foreign enterprises, the recovery of tourism, the strategy of developing trade and service infrastructure in localities, along with the Government's support policies... are major drivers for growth.

However, to effectively exploit market potential, according to experts, it is necessary to continue developing a modern distribution system associated with domestic product consumption, especially in rural, mountainous and border areas. In addition, it is necessary to innovate the retail model towards integrating cultural, tourism and technological experiences - shifting from a sales model to creating living values.

Businesses also need to invest in training high-quality human resources for the retail and service industries, especially customer experience management. Promote public-private partnerships to expand the domestic market, support creative startups in the retail industry, and develop products with local identity.

The Vietnamese retail market is facing an unprecedented opportunity for breakthrough. As the "big guys" enter the market, consumers are increasingly demanding higher levels of experience, quality and value - retail is not simply about selling products, but "selling emotions", "selling lifestyles", and more broadly, "selling a vision for sustainable development". In 2025, if we know how to seize the opportunity, the retail industry can continue to affirm its important role in economic growth, contributing to the common goal.

According to the General Department of Customs - Ministry of Finance, in the first quarter of 2025, the total retail sales of goods and consumer service revenue at current prices is estimated at VND 1,708.3 trillion, an increase of 9.9% over the same period last year (in the first quarter of 2024, it increased by 8.6%), if excluding the price factor, it increased by 7.5% (in the first quarter of 2024, it increased by 5.5%).

Bao Ngoc

Source: https://congthuong.vn/cu-but-pha-ty-do-cho-nganh-ban-le-384491.html