Retail Asia magazine of June and July announced the 500 largest retailers in Asia-Pacific in which Vietnam's Mobile World ranked 70, rising 40 places from 110 of last year.
In 2017, this retailer got $3.2 billion in revenue, $100 million in after-tax profit, much higher compared to $2 million and nearly $70 million respectively in 2016.
It is notable that among 14 economies listed by Retail Asia, Vietnam is the only one where a retailer in the field of telephone and consumer electronics ranks number 1. In other countries, this position belongs to consumer goods retailers.
In Vietnam, by the end of 2017, there were seven out of ten largest retailers ranked by Retail Asia that were consumer electronics and electronic retail systems. Mobile World ranked first with 1,914 outlets nationwide, which was followed by FPT Shop (500 stores), Nguyen Kim (50 supermarkets), Cho Lon Electronics (51 outlets), Vien Thong A (310 stores), Home Center (13 supermarkets) and Pico (22 supermarkets) respectively.
The rest is in the consumer goods sector, including Saigon Co.op having 230 stores, Big C with 63 supermarkets and a system of VinMart +, VinPro and VinMart with total 1,149 stores and supermarkets in Vietnam.
According to Association of Vietnam Retailers (AVR), Vietnam is in the top 30 countries with the most vibrant retail market in the world.
A number of well-known retailers from Japan, France or Thailand have invested in Vietnam, making the retail sector more competitive and forced retailers to change, increase its competitiveness and make the right investment strategy.
According to HSBC, Vietnam's retail sector is relatively small with annual sales of only $90 billion recorded in 2016. However, "it is notable that Vietnam is emerging as a strong market for the retail sector," stated HSBC.