{"id":19766,"date":"2023-07-11T10:04:56","date_gmt":"2023-07-11T03:04:56","guid":{"rendered":"https:\/\/gtjai.com.vn\/?post_type=research&p=19766"},"modified":"2023-07-11T10:20:25","modified_gmt":"2023-07-11T03:20:25","slug":"gtjasvn_retail-sector-report_gloomy-sales-due-to-weak-demand_july2023_nhungtth-en","status":"publish","type":"research","link":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_retail-sector-report_gloomy-sales-due-to-weak-demand_july2023_nhungtth-en\/","title":{"rendered":"GTJASVN_Retail Sector Report_Gloomy sales due to weak demand_July2023_Nhungtth -En"},"content":{"rendered":"

MAIN CONTENT<\/span><\/strong><\/p>\n

The retail industry faced many obstacles in the first half of the year due to the decline in people’s disposable income outlook.<\/span><\/p>\n

The unfavorable economic conditions affect domestic consumption in 1H. Accordingly, sales of essential goods such as food maintained the increasing trend well while sales of non-essential items increased only slightly.<\/span><\/p>\n

The business of retail chains is gloomy:<\/span><\/p>\n

– Departmental and pharmaceutical chains: continue to expand the number of stores.<\/span><\/p>\n

– ICT retail chain: faced difficulties in the first half of the year due to a decrease in demand for ICT products due to falling income pressure and demand for personal computers was not as high as 2 years of lockdown ago.<\/span><\/p>\n

\u00a0<\/p>\n

BUSINESS EXPECTATION<\/span><\/strong><\/p>\n

We believe that the retail market will continue to face difficulties in the second half of the year. However, there will be a recovery compared to the first 2 quarters. ICT chains can improve business results as back-to-school season approaches. The launch of new products lines from Apple, Samsung is the driving force to boost sales.<\/span><\/p>\n

In 2023, most retail businesses such as MWG and PNJ have come up with prudent business plans with low growth targets in terms of revenue and profit.<\/span><\/p>\n

In the long term, Vietnam’s retail market remains a fertile ground for businesses thanks to its young population structure, rising incomes and good macroeconomic prospects.<\/span><\/p>\n

Watch-list: MWG, PNJ, FRT, PET, DGW.<\/span><\/strong><\/p>\n","protected":false},"author":12,"featured_media":0,"template":"","cate_research":[80],"specialized":[],"class_list":["post-19766","research","type-research","status-publish","hentry","cate_research-bao-cao-doanh-nghiep-en"],"yoast_head":"GTJASVN_Retail Sector Report_Gloomy sales due to weak demand_July2023_Nhungtth -En - GTJA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_retail-sector-report_gloomy-sales-due-to-weak-demand_july2023_nhungtth-en\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GTJASVN_Retail Sector Report_Gloomy sales due to weak demand_July2023_Nhungtth -En - GTJA\" \/>\n<meta property=\"og:description\" content=\"MAIN CONTENT The retail industry faced many obstacles in the first half of the year due to the decline in people’s disposable income outlook. 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