Vietnam retail sales bounce back after virus outbreak shutdown ends
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Vietnam retail sales have dropped just 4 percent over the first five months of this year, despite a four-week shut down due to the Covid-19 crisis.
According to the General Statistics Office (GSO), the retail revenue reached more than US$82.36 billion from January to May.
‘Non-essential’ stores across the country were closed from the end of March through most of April, with only supermarkets and pharmacies allowed to continue to trade. However, throughout the closure, all retailers were allowed to sell goods online.
In May, after restrictions were lifted, Vietnam retail sales surged 27 percent from April’s figures.
Sales of consumer goods accounted for 80.6 percent of retail revenue, increasing by 1.2 percent year on year.
Growth sectors included fresh-food products and home appliances while educational products and apparel sales fell by 8.2 percent and 3 percent respectively
Although restaurants and other catering businesses have resumed their operations, the F&B sales fell 26 percent year on year across the first five months of this year.
Questions & Answers
Q.What percentage of the total retail revenue was accounted for by consumer goods during the first five months?
What percentage of the total retail revenue was accounted for by consumer goods during the first five months?
Consumer goods made up 80.6 percent of the total retail revenue between January and May. This represented a 1.2 percent increase compared to the same period last year.
Q.Which specific retail sectors experienced growth, and which saw a decline in sales?
Which specific retail sectors experienced growth, and which saw a decline in sales?
Fresh-food products and home appliances were growth sectors. In contrast, educational products and apparel sales both fell, by 8.2 percent and 3 percent respectively.
Q.How much did F&B sales decline year on year despite the reopening of restaurants?
How much did F&B sales decline year on year despite the reopening of restaurants?
F&B sales fell by 26 percent year on year across the first five months. This occurred even though restaurants and catering businesses had resumed their operations.
Q.What measures allowed retailers to continue generating revenue during the four-week shutdown?
What measures allowed retailers to continue generating revenue during the four-week shutdown?
Supermarkets and pharmacies were allowed to remain open, and all retailers had the option to sell goods online during the closure. This helped mitigate the impact of the shutdown.