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|29 June 2009
Vietnam slips to 6th place in global retail index
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Vietnam has fallen out of the top five in the latest survey of the world’s most attractive retail markets, reported VietNamNet Bridge online, quoting an index compiled by global management consulting firm ATKearney.
Vietnam earned only 55 points on the 2009 Global Retail Development Index (GRDI), 21 points fewer than it earned in 2008 and dropping from the first to the sixth position on the survey, behind India, Russia, mainland China, the United Arab Emirates and Saudi Arabia.
ATKearney attributed the decline to inflationary pressures in the latter half of 2008 and a significant slowing in consumer spending in a largely export-driven economy.
The firm said that many global retailers were now well established in Vietnam, including South Korea’s Lotte, Japan’s Seiyu, Malaysia’s Parkson, Hong Kong’s Dairy Farm and Germany’s Metro.
"Vietnam has some short-term challenges, but our long-term outlook for the country remains positive as it continues to open its doors to international investors," said Hana Ben-Shabat, ATKearney partner and co-leader of the study.
"With economic conditions in developed markets improving so slowly, emerging markets are becoming much more important sources of growth for global retailers," said Ben-Shabat.
Conducted since 2001, the GRDI study is based on a set of 25 variables, including economic and political risk, retail market attractiveness, retail saturation levels, and differences between GDP growth and retail growth, according to ATKearney.
The GRDI also focused on opportunities for mass market and food retailers, which are typically bellweathers for modern retailing concepts in a country, the firm said.
Viet Nam Retailers Association general secretary Dinh Thi My Loan refused to commnent on the survey results yesterday until speaking further to other association members.
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