AT Kearney has released its report on the Global Retail Development Index (GRDI), selecting the 30 economies that have the most attractive retail markets in the world, in which Vietnam ranks fourth, after India (92 marks), Russia (89 marks) and China (86 marks).
The fourth position for Vietnam proves to be a step back compared to the ranking Vietnam held in the previous AT Kearney report. In 2004, Vietnam ranked 7th in GRDI (after Russia, India, China, Slovenia, Croatia and Latvia). The ranking did not improve in 2005 (8th) even with Vietnam obtaining 79 marks. However, Vietnam made a big leap in 2006 when the country jumped into the third position. Therefore, it should be considered a step back with Vietnam falling to fourth position this year.
Over the last three years, from 2004 to 2006, Vietnam’s gained eight marks more only, while it lost 10 marks just in one year, 2007, and this, according to experts, is worth worrying about as it shows unstable development, thus making Vietnam’s retail market less attractive.
AT Kearney has selected the most attractive retail markets in the world among 185 countries based on four criteria: country risks, market attractiveness, market saturation level and time pressure.
Vietnam has made improvement in terms of country risks, but at a slow pace. In 2004, Vietnam got 52 marks, in 2005, it got 54 marks, in 2006: 43 points, and in 2007: 57 marks. Meanwhile, in 2007, China got 75 marks, Russia 62 marks, while India, 67 marks.
Vietnam made the most encouraging improvement in terms of attractiveness, but the improvement proves to be far below the one gained by the three other countries. Vietnam got 29 marks in 2004 and 2005, 24 marks in 2006 and 34 marks in 2007, much lower than India (42 marks), China (46), and Russia (52).
Meanwhile, Vietnam’s saw sharp declines in the other two criteria: it got 90 marks for market saturation level in 2004, 88 marks in 2005, 87 marks in 2006 and 76 marks only in 2007. The biggest problem occurred with the last variable, time pressure. Vietnam got 59 only in ‘time pressure’, falling by 22 marks over the previous year, a big fall considering that China lost four marks only over the last year. India got 74 marks, China 84 and Russia 90.
Source: VNE
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