Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Vietnam Retail Sales Plunge 34%

Nguyen Hue, Vietnam. Peter Nguyen via Unsplash.
Nguyen Hue, Vietnam. Peter Nguyen via Unsplash.

The country, which continues to reel from the impact of Covid-19, saw retail sales drop 33.7 percent year-on-year in August, InsideRetail reports.

Official data reveals that Vietnam’s August retail sales declined 10.5 percent compared to July. On August 20, the government said it would impose a strict lockdown in Ho Chi Minh City amid an outbreak of the delta variant. The city’s retail revenue is forecast to hit $1.5 billion, a 15.9 percent drop from July. Despite expectations that online sales would surge over lockdown, restrictions allowing only for the operation of essential business activities has resulted in negative growth figures for the e-commerce sector.

Learn more:

Vietnam: Luxury’s Next Goldmine?

On the back of a deal with the EU, luxury goods will become more affordable in Vietnam. Are brands investing heavily enough in what is one of the fastest-growing economies in the world?

In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Global Markets
On the ground intelligence and analysis from emerging and frontier markets.
view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections