What: Vietnam’s retail sector achieved double-digit sales growth, fueled by a surge in tourism and robust economic expansion.

Why it is important: These developments confirm that integrating digital channels and experiential retail is key to maintaining resilience in Singapore’s evolving retail landscape.

Vietnam’s retail industry has entered a phase of rapid expansion, with double-digit sales growth driven by a significant increase in tourism and a strong economic backdrop. The influx of international visitors has not only boosted demand for a wide range of retail categories but has also encouraged leading retailers to accelerate their investment and expansion strategies. Central Retail’s announcement of 30 new stores in 2026 exemplifies the sector’s confidence in Vietnam’s market potential. The country’s economy grew by over 8% in 2025, fuelling urbanisation and attracting international brands eager to tap into the growing consumer base. This surge in tourism and retail activity is also intensifying regional competition, prompting neighbouring markets to adapt their strategies in response to Vietnam’s rising prominence. Retailers are focusing on operational agility, local engagement, and cross-sector partnerships to capture the opportunities presented by increased tourist flows. The evolution of Vietnam’s retail landscape underscores the importance of innovation, strategic investment, and adaptability in sustaining growth amid shifting regional dynamics.

IADS Notes: In April 2026, Inside Retail reported that Vietnam’s retail sales surged into double digits due to a tourism boom, while Central Retail’s March 2026 expansion plans reflected growing confidence in the market. The Diplomat noted in January 2026 that the economy grew by over 8% in 2025, supporting rapid urbanisation and attracting international brands. August 2025 coverage from Inside Retail and June 2025 reporting from Bangkok Post highlighted the impact of Vietnam’s retail rise on regional competition and the importance of operational agility and partnerships in leveraging tourism-driven growth.

Tourism surge boosts Vietnam retail sales growth into double digits