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Vietnam Retail Market to Expand by USD 226.4 Billion (2024-2028), Driven by Rising Demand for Convenience Foods, AI Driving Market Transformation – Technavio

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NEW YORK, Nov. 25, 2024 /PRNewswire/ — Report with the AI impact on market trends – The retail market in vietnam size is estimated to grow by USD 226.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  13.64%  during the forecast period. Growing demand for convenience food products is driving market growth, with a trend towards emergence of urban lifestyles in Vietnam. However, issues related to logistics and supply chain operations  poses a challenge.Key market players include 7 Eleven Inc., AEON CO. LTD., Berli Jucker Public Co. Ltd., Central Group of Company, Central Retail Corp., Charoen Pokphand Foods PCL, Circle K, E Mart Co. Ltd., FPT Retail Joint Stock Co., Lotte Shopping Plaza Vietnam Co. Ltd., Masan Group, MM Mega Market Vietnam, Saigon Union of Trading Cooperatives, and SPAR International.

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Retail Market In Vietnam Scope

Report Coverage

Details

Base year

2023

Historic period

2017 – 2021

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 13.64%

Market growth 2024-2028

USD 226.4 billion

Market structure

Concentrated

YoY growth 2022-2023 (%)

11.74

Regional analysis

Vietnam

Performing market contribution

APAC at 100%

Key countries

Vietnam

Key companies profiled

7 Eleven Inc., AEON CO. LTD., Berli Jucker Public Co. Ltd., Central Group of Company, Central Retail Corp., Charoen Pokphand Foods PCL, Circle K, E Mart Co. Ltd., FPT Retail Joint Stock Co., Lotte Shopping Plaza Vietnam Co. Ltd., Masan Group, MM Mega Market Vietnam, Saigon Union of Trading Cooperatives, and SPAR International

Market Driver

Vietnam’s retail market is experiencing significant growth due to economic development. Traditional formats like brick-and-mortar stores, shopping malls, boutiques, and specialty stores coexist with modern retailing. The digital wave is transforming businesses with tech-savvy consumers preferring ecommerce platforms. AI, machine learning, IoT, and omnichannel strategies offer seamless shopping experiences, enhancing customer loyalty. Price sensitivity remains a key factor, with health, wellness products, fitness, and wellness supplements gaining popularity. Brands focus on brand awareness and shopping experience, offering diverse product ranges. Sustainability is a growing trend, with eco-friendly products, green technologies, and reduced plastic use. Mahindra, the Chairperson, sustainability and environmental awareness in the supply chain. Adaptation to changing consumer preferences, data analytics, and omnichannel experiences are essential for businesses. Urbanization increases the demand for modern retail, including department stores and organized sector growth. Traditional stores like Kirana shops and street vendors maintain their local connection and personalized service, offering lower operational costs. Cultural significance remains, with infrastructure improvements supporting the expansion of both modern and traditional retail sectors. 

Vietnam’s retail market is experiencing significant growth due to urbanization and changing consumer preferences among young urban customers. This shift is leading to the expansion of contemporary retail channels, including convenience stores and e-commerce. Online retail sales have seen substantial growth, with both established and private retailers effectively selling their products through digital platforms. The elimination of physical stores, merchandise, salespeople, and inventory requirements makes online sales an attractive option for retailers. Additionally, the increasing Internet and smartphone penetration in Vietnam provides retailers with an opportunity to expand their reach and offer their products online. 

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Market Challenges

In Vietnam’s retail market, economic development brings new opportunities but also challenges. Traditional formats like brick-and-mortar stores face competition from modern retailing and ecommerce platforms. Tech-savvy consumers prefer seamless shopping experiences, digital technologies like AI and machine learning, and omnichannel strategies. Businesses must adapt to the digital wave and offer convenience, customer loyalty, and eco-friendly practices to stay competitive. Price sensitivity remains a key factor, with health, wellness products, fitness, and wellness supplements popular. Brands aim for increased awareness and better shopping experiences through payment options, infrastructure, and personalized service. Sustainability is a growing concern, with green technologies, ecofriendly products, and reduced plastic use gaining importance. The organized sector, including department stores and modern retail, competes with the unorganized sector, including traditional stores, kirana shops, and street vendors, which offer local connection and lower operational costs. Mahindra’s Chairperson sustainability and environmental awareness in the retail sector’s supply chain. Urbanization and changing consumer preferences drive e-commerce expansion and adaptation to an omnichannel experience. Data analytics plays a crucial role in understanding consumer behavior and adapting to their evolving needs.In Vietnam’s retail market, back-end supply chain management processes are intricate due to the developing infrastructure. Functions include product acquisition, warehouse management, packaging, inventory, distribution, and merchandising. Costs entail IT support, infrastructure, and customer service. Managing transportation and multiple retail stores adds complexity, with potential product damage risks. Retailers face challenges in optimizing these processes for efficiency and cost savings. Effective supply chain management is crucial for retailers to remain competitive in Vietnam’s market.

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Segment Overview 

This retail market in Vietnam report extensively covers market segmentation by  

Distribution Channel1.1 Offline1.2 OnlineType 2.1 Grocery2.2 Electronics and appliances2.3 Home and garden2.4 Health and beauty2.5 OthersGeography 3.1 APAC

1.1 Offline-  The retail market in Vietnam offers significant growth opportunities, yet faces intense competition among domestic and international retailers. Supermarkets, with their wide range of daily necessities and convenient one-stop shopping experience, remain popular among consumers. These stores provide food, non-food items, and household appliances, as well as in-house bakeries and cafes. Traditional retailers continue to dominate due to their extensive availability, lower prices, and fresh produce offerings. Convenience stores, offering everyday essentials, are strategically located near highways and busy roads. Department stores or commercial centers provide a broad selection of consumer goods, shaping urban shopping habits. Despite the rise of digital channels, physical retail channels continue to dominate the Vietnamese retail landscape.

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Research Analysis

Vietnam’s retail market is experiencing rapid growth due to the country’s economic development. Traditional formats like street markets and mom-and-pop stores continue to coexist with modern retailing, offering a diverse shopping experience. The economy’s digital wave has brought about a tech-savvy consumer base, leading businesses to adopt digital technologies such as AI, machine learning, and IoT for omnichannel strategies. Ecommerce platforms and brick-and-mortar stores are merging to provide seamless shopping experiences. Shopping malls, boutiques, and specialty stores cater to various consumer needs, from health and wellness products to fitness and wellness supplements. The organized sector, including department stores and brand awareness, is expanding, offering a wider range of products at competitive prices. Price sensitivity remains a key factor, making affordability a priority for many businesses. Overall, Vietnam’s retail market is an exciting space to watch as it continues to evolve and adapt to consumer demands.

Market Research Overview

Vietnam’s retail market is experiencing significant growth due to the country’s economic development. Traditional formats are evolving as modern retailing gains popularity among tech-savvy consumers. The digital wave is transforming businesses with ecommerce platforms and AI, machine learning, IoT, and omnichannel strategies offering seamless shopping experiences. Convenience, customer loyalty, and environmental impact are key considerations. Indian consumers are price-sensitive and prefer health, wellness products, fitness products, and wellness supplements. The organized sector, including department stores and modern retail, is expanding, while the unorganized sector, including traditional stores, Kirana shops, and street vendors, maintains a local connection and offers personalized service at lower operational costs. Sustainability and environmental awareness are increasingly important, with eco-friendly products, green technologies, and plastic use reduction becoming priorities. Urbanization and changing consumer preferences are driving the adoption of digital technologies and infrastructure development. Adaptation to these trends is essential for businesses to thrive in this dynamic market. Mahindra, the Chairperson, the importance of sustainability and environmental awareness in the retail sector. Supply chain optimization and brand awareness are also crucial factors in the shopping experience, with payment options and infrastructure development playing a significant role in the success of both physical stores and online platforms.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Distribution ChannelOfflineOnlineTypeGroceryElectronics And AppliancesHome And GardenHealth And BeautyOthersGeographyAPAC

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Technology

Quintus Flexform™ Press Enables Sona SPEED to Deliver Flight-Critical Aerospace Components Faster

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Advanced forming technology strengthens precision manufacturing capabilities and reduces lead times for global high-performance industries

VÄSTERÅS, Sweden, April 22, 2026 /PRNewswire-PRWeb/ — Sona SPEED Pvt. Ltd., a specialist in precision mechatronics manufacturing solutions, is investing in a Quintus Flexform™ fluid cell press to expand its capabilities in producing high-precision prototype and low-volume components for aerospace and other demanding industries. The new press will support the company’s growing role as a supplier of flight-critical components for global customers.

Quintus Technologies’ expertise in high-pressure forming solutions meets the strict standards required for aerospace applications, enabling us to deliver consistent quality, performance, and reliability to customers operating in mission-critical environments.– Sona SPEED General Manager Bart Korff

Reflecting rising demand for lightweight, high-strength structures used in aircraft, satellites, and launch systems, Sona SPEED is strengthening its advanced forming and structural assembly capabilities, according to General Manager Bart Korff.

“We are expanding our metal forming and structural assembly capabilities to support next-generation aircraft, satellite, and launch vehicle programs,” says Mr. Korff. “Quintus Technologies brings proven expertise in high-pressure forming solutions that meet the stringent standards required for aerospace applications. Their technology enables us to deliver consistent quality, performance, and reliability to customers operating in mission-critical environments.”

The investment reflects broader industry trends toward lighter, stronger materials and faster development cycles across aerospace, defense, and high-performance industrial sectors. Advanced forming technologies such as the Flexform process enable manufacturers to reduce tooling complexity, improve structural performance, and accelerate product development timelines.

Sona SPEED selected the Flexform press model QFC 1×3-800, capable of applying up to 800 bar of forming pressure across a 1000 mm × 3000 mm work area. This performance is enabled by Quintus’ proven wire-winding pre-stress technology, which allows consistent pressure distribution across large forming surfaces.

Flexform is a versatile solution for manufacturing complex sheet metal components, particularly in industries where precision, speed, and cost control are essential for maintaining global competitiveness,” explains Peter Henning, Chief Commercial Officer, Quintus Technologies.

Designed for both prototyping and low-volume production, the Flexform process offers significant advantages compared with conventional rubber pad pressing and mechanical stamping. High-pressure forming reduces tooling complexity, eliminates secondary process steps, and improves fabrication productivity. Multiple forming tools can be used in a single operation, enabling faster transitions from design to production. High-cycle systems can produce up to 120 parts per hour, supporting rapid response to customer requirements.

The user-friendly press includes advanced features such as equipment serviceability, remote system control, and a high degree of self-diagnostics. It is also equipped with state-of-the-art high pressure hydraulics and a semi-automatic service system for quick and easy service of the unique Quintus flexible rubber diaphragm.

“This investment completes Sona SPEED’s aerospace offering by enabling us to manufacture high-integrity, near-net-shape components with enhanced mechanical properties. The Quintus press integrates seamlessly into our production line, allowing the delivery of flight-critical parts with reduced lead times and improved material performance – essential for aerospace and space missions,” notes Mr. Korff.

To support long-term operational reliability, Sona SPEED has chosen to participate in the Quintus® Care Program, a customized service solution that ensures operational reliability, maximum performance, controlled annual costs, and long-term partnership.

The program includes forming process and tool design support, access to Quintus Application Centers, prioritized technical assistance, and reliable availability of spare and wear parts. It also provides annual press inspections, operator training, and personnel recertification to maintain high levels of technical competence and production readiness.

“The added value of the high pressure process allows Sona SPEED to meet the quality, volume, and cost demands for sheet metal parts in major industrial sectors across the globe,” comments Johan Hjärne, CEO of Quintus Technologies. “We are pleased to be a strategic partner as they scale operations, invest in advanced manufacturing technologies, and enhance their engineering capabilities.”

The press will be installed in Sona SPEED’s 100,000-square-foot advanced manufacturing facility on the outskirts of Bengaluru (Bangalore), India in mid-December 2026.

About Quintus Technologies

Quintus Technologies is the global leader in high pressure technology. The company designs, manufactures, installs, and supports high pressure systems in four main areas: densification of advanced materials; sheet metal forming; battery processing; and high pressure processing for food and beverage innovation, safety, and shelf life. Quintus has delivered approximately 1900 systems to customers within industries such as energy, medical implants, space, aerospace, automotive, and food processing. The company is headquartered in Västerås, Sweden, with a presence in 45 countries worldwide. For more information, visit Quintus Technologies.

About Sona SPEED

Part of the century-old Sona Group, a premier business group in India, Sona Special Power Electronics & Electric Drives (Sona SPEED) was established in 2003 as an R&D division specializing in cutting-edge mechatronics manufacturing solutions. The company provides a comprehensive range of metal treatment solutions tailored to the specific needs of a worldwide client base across industries like aerospace, defense, heavy equipment, medical wearables, space, marine, industrial, automotive, and more. Sona SPEED’s unwavering commitment to precision and quality in metal treatments is reflected in state-of-the-art facilities and advanced technology that ensure the delivery of products that excel in performance and durability, thus meeting highest standards required for the most sophisticated and mission-critical applications. To know more, go to Sona SPEED.

Media Contact

Peter Henning, Quintus Technologies, 46 736 20 24 49, peter.henning@quintusteam.com, quintustechnologies.com

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Hannover Messe 2026: Zoomlion Debuts Robot Ops, Showcasing Industrial AI and Intelligent Manufacturing Capabilities

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HANNOVER, Germany, April 22, 2026 /CNW/ — Zoomlion Heavy Industry Science & Technology Co., Ltd. (“Zoomlion” or “the Company”; 1157.HK) has made the global debut of its embodied intelligence operating system, Robot Ops, at Hannover Messe 2026, taking place from April 20 to 24. At the event, Zoomlion is showcasing the robot operating system for industrial applications, along with its industrial AI and intelligent manufacturing (IM) solutions. Through live demonstrations and themed presentations, Zoomlion is highlighting its latest advances in embodied intelligence development platforms and IM practices.

Built for the Software 3.0 era, Robot Ops is a professional embodied intelligence development platform centered on the engineering concept of “Data, Software, and Agents.” It integrates DevOps, DataOps, and AgentOps into a full-stack, engineering-grade solution, enabling coordinated development across software, data, and intelligent agents.

The platform comprises four modules: basic tools, imitation learning, reinforcement learning, and task orchestration, enabling full-lifecycle management from data collection and model training to simulation verification, application development, and deployment maintenance. Designed to be ready to use with a low barrier to adoption, Robot Ops improves closed‑loop iteration efficiency by over 50%.

It directly addresses four key industry challenges: high technical barriers, scenario migration difficulty, data bottlenecks, and lack of lifecycle management. By providing a standardized, replicable engineering path for large‑scale deployment, Robot Ops can be widely adapted to humanoid robots, industrial robots, construction machinery, and autonomous driving. As one platform empowering multiple industries, it supports a more scalable and standardized approach to embodied intelligence development.

At Hannover Messe 2026, Zoomlion is presenting live demonstrations under the unified scheduling of Robot Ops, in which a wheeled humanoid robot and a logistics mobile robot collaborate on a logistics-sorting scenario, while the first-generation mass-produced humanoid robot Z1 performs a dance routine and dynamic motion-control demonstration. The multi-robot collaborative demonstration shows how Robot Ops connects algorithms, task orchestration, and on-site execution.

Zoomlion is also presenting its Industry 5.0 IM solutions, including insights into Zoomlion Smart Industrial City. The showcase highlights how digital technologies such as intelligent scheduling, industrial AI, digital twins, and end-to-end intelligent logistics are integrated into manufacturing processes.

Zoomlion is exhibiting at Booth D76 in Hall 15 and Booth D70 in Hall 11, the China Pavilion. The Company is also co-exhibiting with Amazon Web Services (AWS) and participating in the China Pavilion’s “Invest in China” launch ceremony.

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Realm Raises $4.5M to Bring the ‘Cursor Moment’ to Enterprise Sales

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HELSINKI, April 22, 2026 /PRNewswire/ — Realm has raised a $4.5 million Seed round to speed up enterprise sales cycles. Its platform gives AI the structured context needed to automate deal-defining materials like RFP responses. The round was led by Frontline Ventures, with participation from HubSpot Ventures, Slack Co-founder Cal Henderson and Deel Co-founder Alex Bouaziz.

Realm CEO Mikko Mäntylä believes revenue work is next to undergo the agentic revolution that has already transformed software development.

“Tools like Cursor and Claude Code have fundamentally changed programming. Developers now manage fleets of agents, often running five to ten simultaneous tasks in different terminal windows,” Mäntylä says. “The best revenue teams are starting to replicate this approach, offloading RFP responses, security questionnaires, and other customer-facing materials to AI.”

However, the shift is still held back by a fundamental constraint. Unlike in software development, where the codebase provides structured context for AI, revenue teams work with fragmented systems and unstructured data. Critical information, such as why a deal was won, has to be pieced together from subtle, scattered signals.

Realm solves this by turning raw information into a structured representation of a company’s market, products, pipeline, and strategies. This purpose-built context graph mirrors how human sellers are onboarded and gives agents the foundation they need to contribute effectively.

“Our customers use Realm to draft their most important deliverables, from multi-million dollar bids to business cases that will make or break months of work,” Mäntylä says. “Typically, 70-80% of Realm’s work is approved as-is. Any edits feedback into Realm’s context, creating a compounding record that everyone in the organisation benefits from.”

That institutional memory extends beyond Realm’s own application. The platform integrates with Slack, CRMs, and AI assistants like Claude and ChatGPT, allowing teams to leverage Realm’s context and agents wherever they already work.

“The GTM stack has been built to record and report on what has already happened,” says George Radford from Frontline Ventures. “The emerging paradigm is tools that actually do the work, and Realm is building at the forefront of this shift. The team’s exceptional execution velocity and the rate at which customers are expanding usage convinced us Realm is the right team to back.”

The company will use the fresh funding to triple its team by the end of the year and accelerate its entry into the US.

About Realm

Realm builds a structured understanding of a company’s go-to-market and turns it into execution. As a result, work like RFPs, security reviews, and deal coordination happens in the background, not at the expense of time with buyers. Founded in 2023 by former Slush leaders Mikko Mäntylä and Miika Huttunen alongside Johan Jern, Realm is headquartered in Helsinki, Finland. Realm’s customers include Visma, Aiven, and Hostaway. Learn more: https://www.withrealm.com/ 

About Frontline Ventures

Frontline Ventures backs the most ambitious tech companies across the US and Europe, and positions them to win the transatlantic market. Frontline Seed backs European Seed startups when early US traction is critical to hyperscale. Frontline Growth backs US scaleups at Series B-D when European revenues are essential to IPO-readiness. Frontline Ventures’ portfolio includes companies like Navan, Lattice, and Vanta. Learn more: https://frontline.vc/ 

About HubSpot Ventures

HubSpot Ventures partners with ambitious entrepreneurs who are redefining how businesses grow and operate. The fund backs early- and growth-stage software companies building products that deliver unique value to HubSpot’s customer base, with a mission to help millions of organizations grow better. HubSpot Ventures’ portfolio includes companies like Clay, ElevenLabs, and Lovable. Learn more: https://www.hubspot.com/ventures

Media Contact
Mikko Mäntylä
CEO & Co-founder
mikko@withrealm.com 

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