Retail market growth optimistic

The retail market is forecast to flourish in 2025 as the economy continues to recover and develop. Businesses in the distribution and retail sectors are making investment plans and increasing the import and sale of key products to achieve high growth this year.

According to the Provincial Statistics Office, in 2024, the retail sales of goods in the whole province are estimated to reach 44,571.8 billion VND, accounting for 81.8% of the total retail sales of goods and consumer service revenue in the area, up 13.5% over the previous year. Along with that, the scale of the e-commerce market in 2024 will also be expanded and developed with Ha Nam 's e-commerce index in 2024 increasing by 6 places compared to 2023, rising to 18th place out of 58 provinces and cities participating in the ranking. Revenue from e-commerce accounts for about 9% of total retail sales of goods and consumer service revenue. This not only helps businesses and retailers reach more customers but also optimizes the shopping experience of consumers; thereby, contributing to promoting the growth of the trade sector.

Entering 2025, the retail market soon received positive signals when in the first 3 months of the year, the total retail sales of goods and consumer service revenue of the province was estimated at 15,893.2 billion VND, an increase of 22.2% over the same period last year. Of which, the total retail sales of goods were estimated at 12,782 billion VND, an increase of 20.9% (accounting for nearly 80.5% in the structure of total retail sales of goods and consumer service revenue). In the total retail sales of goods in the first quarter of 2025, up to 9/12 retail product groups had a significant increase in revenue compared to the same period last year, typically food and foodstuffs; garments; cultural andeducational items; wood and construction materials; gasoline, oil; precious stones, precious metals... with an increase of 4% to over 40%.

Customers shop for essential goods at Hung Huong grocery store, Le Cong Thanh street, Phu Ly city.

According to information from many distributors and retailers of goods in the province, in recent months, people's consumption demand has focused mainly on essential products. Meanwhile, spending on luxury goods such as technology products, jewelry, accessories, shoes, etc. has tended to decrease due to consumers' plans to spend economically. According to Ms. Nguyen Thi Thu Hang, Director of GO! Ha Nam supermarket (Lam Ha ward, Phu Ly city), the consumption of fresh food, vegetables, tubers, fruits, etc. at the supermarket has always maintained a high growth rate for many months. This is also the best-selling product group in the supermarket's product structure thanks to GO!'s strategy of focusing on fresh products with competitive prices as well as promoting online sales and free home delivery.

Similarly, the Winmart+ supermarket retail store system also recorded a good growth rate for food and essential goods in the first months of 2025. To stimulate consumer demand, in addition to promoting multi-channel sales and continuously running promotions and discounts on weekends, Winmart+ also applies special prices (up to 20-30% discount compared to normal days) for high-value fresh food items such as fresh salmon, Australian beef and some imported fruits.

The Vietnamese retail industry in general, and the retail market in Ha Nam in particular, are expected to enter a period of stable recovery in 2025, when the economy has room for stronger growth and especially when the Government has implemented many policies to promote consumption, typically reducing value-added tax (VAT) from 10% to 8% in the first 6 months of 2025. According to the assessment of the functional sector, this policy will help stimulate consumption, especially for essential and fast-moving consumer goods. In addition, retail businesses also expect a recovery in the retail sector of technology products, pharmaceuticals, health care, etc. when e-commerce is growing stronger and people's living standards are constantly improving and improving.

In order to increase the total retail sales of goods and consumer service revenue, creating momentum to promote economic growth in the area, in the coming time, the Department of Industry and Trade will continue to implement solutions to stimulate consumption. The focus is on implementing trade promotion activities to promote and introduce products of enterprises, production facilities, specialties of Ha Nam as well as other regions, creating conditions for units, enterprises, production facilities to increase joint ventures, associations, develop distribution networks, and consume products; organize fairs and conferences to connect supply and demand, support connections, and bring the province's agricultural products to modern distribution channels such as supermarkets, shopping malls, convenience stores, etc. Along with that, strengthen training for enterprises on online sales skills, build online marketing strategies, effective business solutions on e-commerce platforms; apply advanced quality management systems, ensure food hygiene and safety; Support businesses in applying information technology in expanding markets, building brands for products, goods and services; encourage businesses to actively implement price stabilization programs, apply various forms of promotions and discounts to stimulate consumption...

Nguyen Oanh

Source: https://baohanam.com.vn/kinh-te/thuong-mai-dich-vu/thi-truong-ban-le-tang-truong-lac-quan-158343.html