, Vietnam
Photo by Alphacolor via Unsplash

Ha Noi’s retail sales up 9.3% in Q1 2024

This growth outpaced the national average increase of 8.2% in Vietnam’s retail sale.

Ha Noi’s retail sales increased by 9.3% year-on-year In Q1 2024, reaching $7.99b (VND199.7t), Savills reported.

The growth outpaced the national average increase of 8.2% in Vietnam’s retail sales, which totaled $61.50b (VND1,537.6t).

The city's retail market features 1,786,100 square meters of net leasable area (NLA), comprising four department stores, 36 shopping centers, 50 retail podiums, 95 supermarkets, and three wholesale centers. 

Since 2020, retail space has grown at an average rate of 3% per year. Shopping centers dominate, holding 63% of the total retail space.

The Secondary Area, which includes districts surrounding the central business district (CBD) and western suburbs, has also become a key focus for new retail leases. 

From Q1 2023 to Q1 2024, it accounted for 72% of new leases by floor area. 

In contrast, the CBD, with limited space, represented only 14% of new leases, attracting tenants primarily in cosmetics, footwear, and accessories.

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Australian retailers push for stronger worker protections
In Victoria, nearly 19,000 violent incidents were reported in the past year.
7 in 10 Japanese consumers benefit from connected tech
Platforms like YouTube, Instagram, and TikTok are transforming shopping habits in the country.
E-commerce
Indonesian retail sales expected to improve in November
Automotive fuel, spare parts, accessories, and clothing are expected to drive this increase.
Swarovski and Coty partner to launch fragrance division
The partnership aims to expand both companies’ portfolios and market reach.

Exclusives

Asia-Pacific retailers tap subscribers to drive growth
Subscription services are a constant source of revenue during a downturn.
Chinese fine dining finds its next course in Singapore
The city-state’s high spending power and big Chinese commune make it an ideal entry point.
TikTok ‘shoppertainment’ drives mega-sale hit
Videos on the platform are used not just to entertain but also to drive e-commerce.