The race to expand the retail market between domestic and foreign goods

Consumers shop for goods at Co.opmart Thanh Hoa supermarket.

The “race” between domestic and foreign retailers is not only about price competition, but also a long-term problem of consumer experience, distribution systems and the ability to adapt to the local market.

According to data from the Department of Industry and Trade, the total retail sales of goods and consumer service revenue in the province in the first 6 months of 2025 is estimated at VND 87,600 billion, up 12.3% over the same period last year. This growth comes from the strong recovery after the pandemic, improved people's income, as well as the rapid expansion of supermarkets, shopping malls and convenience stores.

In recent years, many large domestic and foreign retailers have been presented in Thanh Hoa, creating diverse competition. While domestic enterprises such as Saigon Co.op , Mobile World Joint Stock Company... are still maintaining advantages in terms of network and understanding of the local market, foreign names such as Aeon, Central Retail (Thailand) are also constantly expanding their scale with a strategy of modernizing the shopping experience and long-term investment.

One of the clear signs showing the presence of “foreign” retailers in our province is the GO! Thanh Hoa Trade Center belongs to Central Retail Vietnam (Central Group Thailand). This center has been in operation since 2020 in Hac Thanh ward, becoming one of the major shopping - entertainment - culinary destinations in the province. With hundreds of domestic and foreign stalls, along with the modern GO! supermarket system, this place has gradually formed new shopping habits for local consumers, especially young people and urban households.

Under increasing pressure from foreign retailers, many domestic enterprises have remained steadfast and maintained a significant market share thanks to their market understanding, extensive distribution network and ability to flexibly adjust strategies according to consumer needs in each region. In Thanh Hoa, Saigon Co.op continues to affirm its position with the Co.opmart and Co.op Food systems covering the city center to key districts, acting as one of the key domestic retail brands.

According to Director of Co.opmart Thanh Hoa Supermarket Nguyen Van Dung, the local retail market is entering a period of unprecedented fierce competition, especially when consumer behavior has been changing dramatically.

"Consumers are now not only concerned with price, but also have higher demands on product quality, transparency in origin as well as overall shopping experience. Grasping this trend, we continuously improve our operating processes, upgrade after-sales services and implement specific promotional programs for each residential area, thereby maintaining the connection and trust of local customers," Mr. Dung shared.

The race to expand the retail market between domestic and foreign goods

Co.opmart Thanh Hoa always proactively improves service quality to retain consumers amid competitive pressure.

From the perspective of a private enterprise, Mr. Le Xuan Thanh, Director of Ngoc Ha Trading and Service Joint Stock Company, said: "Thanh Hoa is developing very rapidly in terms of urbanization and income, leading to a sharp increase in consumer demand. As a local enterprise, we take advantage of understanding customer needs to adjust seasonal goods, increase regional products and improve delivery services. The most important thing is to maintain prestige and connect with consumers through community activities."

In particular, many domestic retailers are shifting to a modern retail model that integrates technology, with fast delivery services, membership points and flexible promotions based on each location. This helps them retain customers in a context where consumers increasingly prioritize convenience and personalization.

The trend of smart consumption and the rise of e-commerce are significantly changing the retail landscape in Thanh Hoa. Consumers are no longer only concerned with price, but also pay more attention to product quality, shopping experience and convenience. According to a survey by the Department of Industry and Trade, in 2024, up to 67% of people in the province are willing to pay more if the product has a guaranteed origin, clear food safety and is professionally packaged. At the same time, the rate of online shopping is also increasing sharply, especially among customers aged 18 - 35. Platforms such as Shopee, Tiki, Lazada or TikTok Shop have all recorded increased revenue in Thanh Hoa. This forces traditional retailers to invest heavily in digital transformation and build parallel online channels to maintain competitiveness.

The race between domestic and foreign retailers not only brings diverse choices to consumers, but also promotes the modernization of the provincial trade sector. However, in order not to be overshadowed at home, domestic enterprises need to focus on long-term strategies such as improving product and service quality, improving management models and especially investing in professional retail personnel.

On the other hand, the province also needs to complete the planning policy for modern trade development, support investors in accessing land and legal procedures, and connect retailers with manufacturing enterprises and cooperatives in the province to build a supply chain of green and clean goods.

Article and photos: Chi Pham

Source: https://baothanhhoa.vn/cuoc-dua-mo-rong-thi-truong-nbsp-ban-le-giua-hang-noi-va-ngoai-254139.htm