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The countrys median age is 32, and its population of nearly 100 million is increasingly adopting modern shopping habits, fueling demand for retail expansion. Compared to Thailand, Indonesia, or Singapore, Vietnams retailmarket is still developing, said Matthew Powell, director of Savills Hanoi.
Lego recognized that when household finances are facing a squeeze, parents are more likely to buy products that will last – so they don’t have to replace toys a few months down the line. So if the retailmarket shrinks during the recession, finding a way to provide that experience could allow your business to stand out.
We will also be purchasing from Flavor Seed, World Seasonings, Botticelli, and more that I’m sure I’ll discover when we expand our retailmarket this summer. If you’re recruiting investors or seeking alternative financing, vet them as people you would want to sit down and have dinner with.
Second, there is a hard economic reason, which is the need for mall operators to rejig their tenant mix to place more emphasis on non-retail attractions to drive foot traffic. In major retailmarkets like Bangkok, art and crafts have become tightly woven into the high-end mall culture.
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