Vietnam retail trends: Strategic insights for brand and shopper marketing leaders

Vietnam retail trends show that the retail landscape is undergoing transformative change. Cimigo’s Vietnam retail trends report provides a data-rich analysis of shifting consumer behaviours, the rise of digital commerce, and structural retail evolutions. With retail goods and services accounting for 55% of the country’s GDP, these insights are critical for CMOs, brand leaders, and shopper marketers navigating the Vietnamese market.

The report synthesises data from the Cimigo consumer intelligence platform to offer an executive-level perspective. This article delivers a deep dive into key sections of the report and concludes with actionable strategic insights and recommendations.

Eight key Vietnam retail trends

1. Traditional trade is in decline; modern and digital channels surge

Traditional trade dropped from 100% of retail share in 2000 to just 62% in 2024, marking its first absolute decline in sales. Meanwhile, modern trade expanded significantly (+19% outlets), led by players like WinMart+ and FPT Long Chau. E-commerce now accounts for 11% of retail goods sales, demanding urgent strategic reallocation for brands.

2. Digital economy powers growth, but consumers remain price-conscious

Vietnam’s internet economy is now worth US$36 billion (8% of GDP), up from US$3B in 2015. Yet consumer sentiment remains below 2019 levels, with a rise in savings and value-seeking behaviour. Brands must balance innovation with affordability and tangible value.

3. Rural and northern markets are e-commerce future growth engines

Rural shoppers buy online more frequently (10.03x/month) than urban consumers, driven by convenience and access to broader assortments. Hanoi residents shop online more frequently than HCMC but spend less per transaction. Tailored targeting by geography and behaviour is essential.

4. Online shopping has become ritualistic, especially among millennials

Vietnamese consumers shop online almost 10 times per month on average. Millennials (aged 29–44) are the highest spenders and shop more frequently than Gen Z. Peak times are weekends and evenings, highlighting the importance of timed promotions and content drops.

5. Live commerce is reshaping consumer engagement

63% of consumers engage in livestream shopping, while 53% use shoppable videos. Shopee and TikTok dominate here. This growing trend presents an opportunity for brands to drive real-time conversion through influencer-led, interactive experiences that blend entertainment and commerce.

6. Millennials are the power spenders; engage them with video content demonstrating brand authority

Millennials (aged 29–44) are Vietnam’s most valuable online shoppers, spending significantly more than Gen Z and driving evening and weekend peaks. Unlike Gen Z, they are more influenced by brand-generated content than influencers. Brands should focus on visually rich, informative media, especially video, and deploy campaigns during high-traffic times to capitalise on this group’s spending power.

7. Shoppertainment is the path to purchase

Shopping is no longer transactional; it’s entertainment. The most compelling content formats are fashion try-ons, tutorials, influencer reviews, and before-after comparisons. Videos around 1.5–2 minutes are ideal. Campaigns should be optimised for emotion, engagement, and speed.

8. Channel addition is critical; look to the baby care example

Baby care shoppers operate in a dual-channel model: 91% shop offline, but 71% also shop online, especially on brand e-commerce sites. Retailers like Con Cung and Kids Plaza are leaders. Brands must integrate in-store and online experiences to ensure convenience and trust.

Vietnam’s economy and consumer sentiment

Vietnam’s economy continues to grow, with GDP reaching US$431 billion in 2024 (7.1% growth), and a digital economy now worth US$36 billion (8% of GDP). However, consumer sentiment remains cautious. Retail sales of goods and services contracted by 4.2% in USD terms in 2024, despite a nominal 7% growth. Notably, retail services grew by 11% while goods rose by only 6%, highlighting a significant shift toward experience-based spending, supported by the rebound of both domestic and inbound tourism.

The household savings rate has climbed to 10%, up from 8.5% in 2019, indicating restrained discretionary spending. Consumers continue to rebuild savings post-Covid, delay high-ticket purchases, and reduce discretionary entertainment outlays, yet experiences remain in demand.

Vietnam is shifting consumer spending behaviours.

Vietnamese consumers are undergoing a behavioural reset, heavily impacting Vietnam retail trends:

Online platforms have become primary channels for purchasing.
Consumer price inflation is pressuring household budgets. The official inflation basket does not reflect real consumer shopping behaviour.
Big-ticket purchases are being delayed or halted.
Discretionary entertainment is down, though experiential spending is up.
Consumers are rebuilding savings, with elevated household deposit levels.
Shoppers are steering away from premium goods, gravitating toward value-driven purchases.

For brand and shopper marketers, this means reframing propositions to align with cautious yet digitally connected consumers who prioritise convenience, trust, and value.

Vietnam retail trends: Channels are undergoing structural transformation

A structural shift is redefining retail dynamics in Vietnam. Traditional trade’s dominance has eroded dramatically, from 100% in 2000 to 62% in 2024. For the first time, traditional trade saw an absolute decline in sales in 2024. E-commerce continues rising, accounting for 11% of retail goods sales.

Modern trade has surged in response. Its share of retail sales grew from 15% in 2005 to 27% in 2024. Outlet expansion led the charge, with WinMart+ adding 718 stores, FPT Long Chau Pharmacy 465, and Con Cung 202 outlets year-to-date, September 2025 alone.

Vietnam e-commerce and consumer behaviour

E-commerce in Vietnam is no longer an alternative channel; it is central to consumer purchasing behaviour. Online shopping now occurs an average of 9.84 times per month, with rural consumers (10.03x) and millennials (10.02x) leading the charge. Purchases typically peak on weekends and during evenings (7–10pm). For brand marketers, these are crucial windows for promotional campaigns, flash sales, and live activations.

Millennials: The core e-commerce demographic in Vietnam

Millennials (aged 29–44) are the biggest online spenders, averaging 3.02 million VND per month. They dominate the higher spending brackets and engage heavily in the South-East and Mekong regions. In contrast, Hanoi consumers shop online more frequently but spend less per purchase.

This group is particularly receptive to brand-produced product videos and shopping during leisure hours. Marketers should use branded content, official store presence, and mobile-first design to capture their attention and convert effectively.

Vietnam shoppertainment: Livestream and shoppable video

Vietnamese consumers are embracing ‘shoppertainment’ with enthusiasm. 63% participate in livestream shopping (Shopee Live, TikTok Shop Live), and 53% use shoppable videos. These formats merge entertainment with commerce and are most effective in fashion, household, beauty, and pharmaceutical categories.

Shopee leads in both livestream and shoppable video conversion. TikTok Shop, while less dominant, has emerged as a strong challenger due to its entertainment value, live interaction, and social proof from comments and reviews.

Vietnamese consumer triggers and content formats

Shoppable videos averaging 1.74 minutes are most effective. Influencer reviews, tutorials, and before-and-after content have the highest conversion impact. Males and urban consumers respond strongly to unboxings and influencer-led content, while millennials favour official brand content. Key shopper triggers include:

Real-time demonstrations.
Social proof.
Convenience and clear product information.
Promotions (free shipping, limited offers).

Vietnam baby care category: Provides an excellent benchmark for omnichannel retailing

For baby care products, dual-channel shopping behaviour is clear. While 91% of parents shop offline, 71% also buy online. Con Cung is the category leader, followed by Kids Plaza and AVAKids. Offline remains dominant due to trust and tactile assurance, but online gains traction through official stores on e-commerce platforms and official store platforms.

The baby category serves as a prime example of effective omnichannel synergy. Trust is built through physical store presence and reinforced online through verified brand channels. The complementary use of both formats allows brands to serve practical, safety-driven, and convenience-seeking parents.

Brand marketers must align in-store and digital experiences to maintain trust while offering convenience. Those who integrate promotions, consistent pricing, and inventory visibility across channels will strengthen loyalty and basket size.

Vietnam retail trends: Strategic insights and recommendations

Vietnam retail trends point to key actions to consider:

Prepare for frugal growth: Rising savings rates and inflation sensitivity demand a value proposition that balances aspiration with affordability.
Reframe value propositions: Consumers avoid premium goods and prioritise experience and value. Craft messaging that responds to these shifting behaviours.
Shift resources to modern and digital channels: Traditional trade is declining; modern trade and digital are surging. Prioritise investment where growth is occurring.
Optimise strategies for omni-channel: Coordinate in-store experiences with digital convenience. Emphasise trust and safety across both.
Own the brand experience: Use official stores and branded channels to ensure trust and maintain control over messaging.
Leverage shoppertainment: Develop livestream and shoppable video strategies to engage consumers in real time.
Use short-form video creatively: For shoppable videos, stay within 1.5–2 minutes. Match content format to category and audience triggers.
Engage millennials with branded content: Target high-value millennials with official videos, scheduled weekend/evening content drops, and UX-optimised e-commerce touchpoints.
Time promotions strategically: For maximum impact, activate campaigns during peak online shopping times (weekends, 7–10pm).
Tailor messaging by region: For example, Hanoi prefers frequent, smaller spends; the Mekong sees larger bills. Rural consumers are highly active online despite lower transaction values.

Vietnam’s retail trends and transformation are defined by digital acceleration, cautious consumer sentiment, and the rise of shoppertainment. CMOs and brand leaders must act agilely, adapting strategies to align with behavioural shifts and emerging platforms.

By leaning into these trends with smart timing, tailored content, and omni-channel integration, brands can convert attention into loyalty to win in a challenging and dynamic retail market.

End.

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