Hanoi (VNS/VNA) - Despite the impact of the COVID-19 pandemic, theretail market in Vietnam in the first quarter of this year still recordedpositive results from e-commerce, online shopping and delivery services.

The General Statistics Office of Vietnam reported that turnover in the firstquarter of food and beverage, and hotel and tourism services decreased by 9.6 percentand 27.8 percent, respectively.

Data from CBRE Vietnam also showed the number of visitors to shopping centresdecreased by about 80 percent in both HCM City and Hanoi because of thepandemic.

But although direct shopping revenue dropped, e-commerce and online shoppinghelped save many retail businesses, the research firm said.

CBRE also reported a strong competition between veteran e-commerce platformsand new players at the end of last month.

During the pandemic, Tiki reached a record of 4,000 orders per minute, SpeedLand Saigon Co.op also soared in the online sales segment.

Ride-hailing platform Grab also quickly launched its GrabMart service to servethe online shopping needs of customers at home.

Vo Thi Phuong Mai, deputy director and head of retail services of CBRE Vietnam, said the COVID-19 pandemic had negatively impacted direct visitor trafficbut creating many opportunities for small and medium-sized models such asconvenience stores, pharmacies and especially e-commerce.

E-commerce was a bright and transforming point, which supports physical storesduring the pandemic, she added.

Multi-channel sales would be more flexible and may even outperform thepost-COVID-19 period.

AT Kearney also listed the Vietnamese retail market among the world's mostexciting group.

There are many figures and development trends making domestic and foreignretailers realise the attractiveness and great opportunities in the country.

Vietnam’s economic growth is among the highest in the region. The size of thecountry’s population is nearly 100 million people, with a young populationgroup and the increasing income.

The rapid urbanisation process creates new shopping and consumption trends,especially in modern shopping spaces.

Under the pressure of the pandemic, many businesses in the retail industryrushed to adapt.

Being a traditional retail giant established in 1996, Saigon Co.op is a typicaladaptation when moving to multi-channel sales in recent years such astelevision retail, applying Scan & Go, and e-wallet MoMo.

"After diversifying the retail category, we are aiming for omnichannelsales," said Nguyen Anh Duc, newly appointed general director of SaigonCo.op in Forbes magazine recently./.