Vietnam’s shopping mall industry overview
Modern retail channels is taking off in Vietnam, supported by many positive factors such as young population, expansion of middle class and retail spending boom. In general, traditional retail expected to continue to dominate the whole retail market due to Vietnamese people’s shopping habits. The growth of retail property has closely related to the development of retail industry. In 2017, department stores records current value growth of 15% in 2017, to reach VND 8,326 billion. Over the forecast period, department stores is expected to see a value CAGR of 27% at constant 2017 prices, to reach VND 27,457 billion in 2022. Compared with other regional markets, Vietnam still has a huge potential for retail property.
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