Vietnam: Retail Foods

Vietnam’s total retail sales were estimated at approximately $172 billion, up 6.8 percent over 2019, with food and beverage accounting for approximately 30 percent. Effective control of COVID-19 has allowed the retail sector to overcome short-term challenges and constraints while strong economic growth, increasing foreign investment, benefits from free trade agreements, a growing middle class with higher disposable incomes, and rapid urbanization continue to drive long-term sustainable growth. Vietnam’s modern retail food channels have seen expansions, exits, and mergers and acquisitions in 2020 and 2021. While e-commerce and food delivery services continue to enjoy sustainable growth, sales in traditional retail food channels have declined due to changes in consumer shopping habits as a result of COVID-19.