Key Consumer Trends Driving Vietnam’s Offline Retail Growth

Vietnam’s retail sector is entering a new phase of expansion. Despite the rise of e-commerce, the majority of purchases still happen in physical stores. For companies considering SME Vietnam market entry, understanding the latest Vietnam consumer trends is critical to building the right market strategies.

Vietnamese consumers shopping in a supermarket — symbolizing the growth potential of the country’s retail sector and opportunities for SME Vietnam Market Entry.

Vietnam consumer trends: young and dynamic demographics

With a median age of just 32, Vietnam has one of the youngest populations in Asia (UN Data, 2024). This demographic is highly urban, connected, and eager for lifestyle-driven consumption.

Young shoppers are fueling demand in categories such as fashion, cosmetics, and convenience retail. These dynamics underline why Vietnam retail insights consistently show strong momentum in modern malls and Modern Trade (MT) Vietnam.

Expanding middle class and rising incomes

According to the World Bank (2024), Vietnam’s middle class is projected to double by 2035. Rising disposable incomes are shifting consumer behavior toward branded goods, premium products, and experiential shopping.

For SMEs planning Vietnam SME expansion strategy, this growing consumer segment offers significant Vietnam market opportunity. These Vietnam consumer trends highlight the importance of tailoring product portfolios to meet new lifestyle demands.

Offline retail as an experience hub

Consumers are no longer visiting stores just to buy products. Shopping malls have become destinations for dining, entertainment, and social connection. In Ho Chi Minh City, new projects such as Vincom Mega Mall Grand Park reached over 70% occupancy immediately after opening (Savills Vietnam, Q1/2025). This reflects how offline retail continues to outperform forecasts, supporting Vietnam Retail Expansion strategies.

Vincom Mega Mall in Ho Chi Minh City — a prime example of offline retail as an experience hub, supporting Vietnam Retail Expansion.

Convenience and proximity shopping

Convenience stores are multiplying in urban centers, led by global chains like GS25 and Circle K. This format appeals to younger consumers who value speed, accessibility, and lifestyle branding. For SMEs, entering General Trade (GT) Vietnam and scaling into Modern Trade (MT) Vietnam with convenience channels provides a pathway to tap into these evolving Vietnam consumer trends.

Convenience store chains such as GS25 and Circle K are reshaping Vietnam consumer trends through proximity shopping.

Premiumization in FMCG and F&B

Reports from Worldpanel Vietnam (FMCG Outlook 2025) highlight that while overall consumption is value-conscious, premium categories are growing in cosmetics, beverages, and packaged foods. This duality means SMEs must tailor product portfolios carefully when designing FMCG Distribution Vietnam strategies.

An Nam Gourmet supermarket in Vietnam highlights the premiumization trend in FMCG and F&B, appealing to affluent consumers.

Tourism and experiential demand

Vietnam welcomed over 12 million international visitors in 2024, and full recovery is expected by 2025 (Vietnam National Administration of Tourism). Tourists, alongside affluent locals, are fueling growth in Horeca Distribution Vietnam — hotels, restaurants, and cafés. For SMEs, this represents a high-margin entry point into Vietnam’s offline retail ecosystem.

Multi-channel mindset

Although offline remains dominant, consumers are increasingly adopting hybrid shopping behaviors. Many browse online but complete purchases in-store. This trend positions Vietnam E-commerce Market Entry as a complementary channel, not a replacement. SMEs that integrate online and offline can maximize reach and adapt to evolving Vietnam SME Challenges.

The four key retail channels in Vietnam — General Trade, Modern Trade, Horeca, and E-commerce — reflecting the country’s multi-channel mindset.

Why SMEs should act now

Vietnam’s GDP expanded by 7.09% in 2024 (GSO, 2025), one of the highest in Asia. Coupled with a young population, rising incomes, and lifestyle-driven consumption, the country offers a powerful case for SME Market Expansion Vietnam. By aligning with key Vietnam consumer trends, SMEs can secure brand loyalty and achieve sustainable growth in one of the region’s most promising offline retail markets. With a balance of insight and execution, Go2Market (G2M) Vietnam is positioned to guide brands through these evolving opportunities.

Partnering with a trusted Vietnam market entry partner for FMCG helps businesses navigate distribution, compliance, and deliver a fast market entry solution Vietnam tailored to these evolving consumer behaviors.