Vietnam: Retail Foods
Vietnam's modern retail sector saw significant disruption in 2019 when two leading modern retailers, Auchan and Shop&Go, terminated their operations in Vietnam and were sold to two local companies, Saigon Co-op and Vincommerce, respectively. Traditional grocery retailers still dominate Vietnam’s retail food sector, while modern retail chains are competing to expand in response to growing consumer demand. Overall economic growth, combined with a sizable young population, rapid urbanization, and consumer concerns about hygiene and food safety are driving changes in consumption patterns. According to the General Statistics Office (GSO) of Vietnam, Vietnam’s total retail goods and services revenue in 2018 was approximately $191 billion, up 11.7 percent over 2017.