Vietnam’s retail goods and services market reached an estimated VND 7,093 trillion (USD 270 billion) in 2025, marking a 10% year-on-year increase and the fastest growth in five years, according to the Ministry of Industry and Trade. Retail goods continued to account for the largest share, representing 76.2% of total sales, or roughly VND 5,405 trillion (USD 205.7 billion), up nearly 10% from 2024.
Domestic retailers maintained strong leadership across key segments. WinCommerce, the grocery arm of Masan Group, operated approximately 4,600 outlets nationwide under the WinMart, WinMart+, and Win brands, adding 800 stores in 2025, with around 70% in rural areas. Bach Hoa Xanh, run by Mobile World Group, expanded to nearly 2,000 stores, with 400 new openings concentrated in central Vietnam and the Central Highlands.
Foreign retailers also kept a significant presence. Thailand’s Central Retail operates about 330 outlets, including Go!, Big C, and Tops Market, serving roughly 500,000 customers daily across 1.3 million square meters of retail space. Japan’s Aeon Group runs eight shopping malls, 15 hypermarkets, 45 medium-sized supermarkets, 180 convenience stores, and various specialty outlets nationwide.
Service-related sectors outpaced retail goods in growth, expanding 10% to 14% annually, reflecting the consumption patterns of a developing economy with rising incomes and improved living standards. Within retail goods, food and foodstuffs remained the largest category, accounting for 34.1% of total retail sales, valued at VND 1,878 trillion (USD 71.5 billion).
Regional sales showed notable disparities. The Red River Delta led with 31.3% of national retail sales, with Hanoi alone contributing more than half of the region’s total. The northern midlands and mountainous areas recorded the lowest share, at 6.7%.
In pharmaceuticals, Long Chau Pharmacy, operated by FPT Retail, remained the largest drugstore chain with 2,343 pharmacies and 226 vaccination centres nationwide, generating about USD 1.28 billion in revenue. The convenience store segment continued to be dominated by foreign brands, led by Circle K with over 460 outlets, followed by South Korea’s GS25 and Japan’s 7-Eleven.
The ministry’s report underscores Vietnam’s position as an attractive market for both domestic and international retailers, driven by rising consumer spending, ongoing urbanisation, and expanding retail infrastructure.
Source: The Investor
