Vietnam retail sector shows strong growth and digital shift

retail sector growth Vietnam consumer market e-commerce expansion modern retail channels Phu Tho economic data

Vietnam's retail and consumer service sectors are showing significant growth. In Phu Tho province, total retail sales and service revenue reached nearly 120,600 billion VND in the first nine months of 2026, a 17.8% increase compared to the same period last year. The province reported stable supply chains, diverse goods, and the expansion of convenience store networks in urban and residential areas.

Nationally, the retail sector saw total revenue of 4,555.8 trillion VND in the first seven months of 2026, up 13.1% year-on-year. The market is undergoing a structural shift toward omnichannel integration and digital platforms, with e-commerce's share of retail expected to grow by 25% in 2026.

Major players are targeting untapped markets. Masan Group's WinCommerce is focusing on rural areas, where modern retail coverage remains low at approximately 10%. Meanwhile, AEON Vietnam is expanding its footprint, having commenced construction on the AEON Phu Ly shopping center, as part of a strategy to triple its current scale in the country.