A billion-dollar breakthrough for the retail industry.

A double boost from retail and tourism.

After a period heavily impacted by the pandemic and global inflation, 2025 opens with a different atmosphere: vibrant, full of expectations, and… a burning desire for growth. Domestic and foreign retail businesses are openly ambitious to expand their reach and capture market share early on.

On April 19th, Aeon Vietnam – a giant from Japan – commenced construction of its Aeon shopping mall in Hai Duong , marking a significant step in its expansion strategy in Vietnam. With a total investment of VND 1,180 billion, the project is expected to be completed in 2026, creating approximately 1,000 jobs and providing a modern shopping space with over 38,100 m² of floor area.

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

More than just a shopping mall, Aeon Hai Duong is developed as a "three-generation family paradise" – a model of living, shopping, entertainment, and connection among family members. A key aspect of Aeon's strategy is not only investing in modern retail infrastructure, but also deeply collaborating 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. The Uniqlo retail chain has also established a presence in Hue – an emerging market thanks to strong tourism growth and urban transformation. The Hue store is the 29th in Vietnam and the first in Central Vietnam. Here, Uniqlo leverages local culture to develop its products, collaborating with young artists to create a line of shirts featuring conical hats, poems, and paintings from Sinh Village – a clever move to win the hearts of local customers and tourists.

In Ho Chi Minh City, the local brand Alluvia Chocolate – renowned for its purely Vietnamese cocoa products – is expanding its presence in prime locations such as Le Loi Street. Notably, even with two adjacent outlets, the brand is still seeking to increase its reach to consumers, demonstrating confidence in the resilience of the retail sector amidst the strong recovery of domestic and international tourism.

It's no coincidence that many retail businesses choose "tourism hubs" like Hue, Da Nang, Hoi An, or Nha Trang to expand their distribution networks. Tourism – considered a "partner" of the retail industry – is making an impressive comeback.

In Hue, tourism revenue in the first quarter of 2025 is estimated to reach over 2,600 billion VND, an increase of more than 52% compared to the same period in 2024. This year, the locality is also hosting the National Tourism Year 2025, expected to generate tourism revenue of 10,800–11,200 billion VND – a figure that cannot be ignored by retailers targeting the customer segment with high demand for consumption, experiences, and local gifts.

The recovery and boom in the tourism industry has created a new customer base – those willing to spend on regional specialties, convenient products, and high-end services. This has transformed retail from a "modernized traditional market" into a "center for living experiences."

Domestic market: A strategic pillar for growth.

In the face of geopolitical uncertainties and global supply chain disruptions, Vietnam has identified the development of its domestic market as a crucial pillar for ensuring sustainable economic growth. The target of increasing total retail sales of goods and consumer service revenue by 12% in 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% compared to the same period last year – a positive start, reflecting the recovery of domestic consumption. Consumer confidence is gradually strengthening amidst stable interest rates, improved incomes, and a modern distribution system continuing to expand into remote areas.

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

The Vietnamese retail market in 2025 clearly has favorable conditions in place. The strong participation of domestic and foreign businesses, the recovery of tourism, the development strategy for commercial and service infrastructure in localities, and supportive government policies are major drivers of growth.

However, to effectively exploit the market potential, experts believe it is necessary to continue developing a modern distribution system linked to domestic product consumption, especially in rural, mountainous, and border areas. In addition, the retail model should be reformed to integrate cultural experiences, tourism, and technology – shifting from a sales model to one that creates value for life.

Businesses also need to invest in training high-quality human resources for the retail and service sector, especially in customer experience management. They should promote public-private partnerships to expand the domestic market, support innovative startups in the retail sector, and develop products with local characteristics.

The Vietnamese retail market is facing an unprecedented opportunity for breakthroughs. With the entry of major players, consumers are increasingly demanding higher levels of experience, quality, and value – retail is no longer simply about selling products, but about "selling emotions," "selling lifestyles," and, more broadly, "selling a vision for sustainable development." By 2025, if the right approach is taken, the retail sector can continue to assert its crucial role in economic growth, contributing to overall goals.

According to the Customs Department – Ministry of Finance, in the first quarter of 2025, total retail sales of goods and consumer service revenue at current prices are estimated to reach VND 1,708.3 trillion, an increase of 9.9% compared to the same period last year (Q1 2024 increased by 8.6%), or 7.5% if excluding the price increase factor (Q1 2024 increased by 5.5%).

Bao Ngoc

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