Mega Mall's playground is becoming increasingly vibrant.
According to the General Statistics Office, total retail sales of goods and consumer service revenue in July reached VND 3,625.7 billion, an increase of 9.4% compared to the same period last year. For the first seven months of 2024, total retail sales of goods and consumer service revenue increased by 8.7% compared to the same period last year.
According to a new study published last June by PwC on consumer behavior in Asia- Pacific , Vietnam stands out with the highest online shopping rate in the region at 67%, thanks to the popularity of e-commerce platforms including Shopee and Lazada, although in-store shopping remains strong (63%). The survey was conducted and collected responses from over 7,200 consumers.
According to Ms. Tu Thi Hong An, Senior Director of Commercial Leasing Services at Savills Vietnam, in both Ho Chi Minh City and Hanoi , approximately 1.5 million square meters of retail space for lease has consistently maintained an occupancy rate above 90% for many years, demonstrating that the large-scale shopping mall model remains attractive.
Ms. Tu Thi Hong An, Senior Director of Commercial Leasing Services, Savills Vietnam.
Currently, investment in large-scale shopping malls (Mega Malls) with floor space of 100,000 m2 or more is attracting the attention and resources of many domestic and international players such as Vincom, Aeon Mall, Central Retails... and in the future, Central Pattana, another member of Central Group, is expected to join.
"For domestic investors, the biggest strength is their understanding of consumers as well as their existing land reserves. Conversely, foreign investors also have their own strengths and strategies. For example, Aeon and Central Retail, long-standing and reputable retail investors in the regional market, maintain those strengths when entering the Vietnamese market," Ms. An analyzed.
Furthermore, Savills experts also pointed out several strengths of foreign and Vietnamese investors in the retail sector. Foreign investors possess experience and a strong reputation built over many years in the region. In retail, reputation and experience play a significant role in development and operation. Conversely, for Vietnamese investors, the main strength lies in their existing land holdings, which will ensure their coverage in the retail sector.
We need a sustainable vision.
Besides these attractive growth potentials, there are many important factors that developers need to consider to ensure the sustainability of shopping malls in today's volatile retail environment.
From the perspective of a retail real estate leasing consultancy, Savills experts recognize that the biggest obstacle in developing and operating large-scale shopping malls is the long-term strategy and vision. This stems not only from the initial development plan but also from marketing strategies, leasing strategies, etc., to ensure a sustainable future.
Foreign investors have extensive experience in managing large-scale shopping malls.
Furthermore, consistency in development strategy, marketing strategy, and long-term leasing strategy plays a crucial role, demonstrating the investor's focused investment in retail space and retail commerce.
"There's a reality that when professional retailers and retail space operators have different commercial chains, they create a rather unique and consistent operating model. This builds trust among retailers when they decide to do business in those shopping malls. This advantage is evident when tenants consider choosing that shopping mall chain over those with only a single project, thus creating a loyal customer base," Ms. An analyzed.
Through research on the operating models of shopping malls, Savills experts have also observed a shift in product categories to better suit the actual needs of consumers. This includes an increase in the proportion of food and beverage products, while the fashion and retail sectors tend to decrease. The diversification of other sales channels for the fashion sector, along with an increase in entertainment and healthcare services in some shopping malls, reflects the actual demand of users for services offered in shopping malls across different regions.
Source: https://www.congluan.vn/thi-truong-bat-dong-san-ban-le-soi-dong-hon-voi-chien-luoc-phat-trien-trung-tam-thuong-mai-quy-mo-lon-post306593.html
