Retail in Vietnam: An accelerated shift towards omnichannel retailing
The report provides insights on changes of consumer behavior after the Covid-19 pandemic, thereby stressing the importance of channel strategy reconsideration of retailers.
As early and decisive COVID-19 containment efforts bear fruit, Vietnam is expected to remain one of the fastest-growing economies in Southeast Asia. On the back of strong and resilient economic fundamentals, Vietnamese consumers are also amongst the most optimistic despite the onset of the global pandemic.
But that is not to say that retail will return to business as usual after the crisis. Retailers and consumers alike heightened their focus on safety aspects in the wake of the COVID-19 outbreak, they have moved to minimise physical interactions and maximise digital interactions. This has resulted in an accelerated shift towards omnichannel purchasing behaviours, as e-commerce channels are increasingly used as a substitute for physical shopping activities.
In this report, we cover economic resilience in the face of COVID-19, highlight how COVID-19 is changing the Vietnamese consumer and analyse segment of retail channels.