Over the first two months of 2021, Da Nang retail sales and services have continued to rebound impressively, and get back on its growth path. Besides, a number of large domestic and foreign retail giants plan to pour money into the development of large trade centres in the city in the time ahead.

The Co.opmart chain has taken plans to ensure good supplies to serve shoppers’ demands which are on an upward trend after Tet breaks

Da Nang retail sales make impressive growth

A high growth rate in retail sales by year-end was due to retailers and shopping malls offering big discount programmes to stimulate local consumption. Functional local agencies have also well ensured goods circulation to meet the needs of local consumers, whilst market supervision and monitoring were implemented effectively.

According to data published by the municipal Department of Industry and Trade, the sales value of retailing in Da Nang amounted to an estimated 5,265 billion VND in February, up 15.7% over the same period last year, thus bringing the total retail sales value in Da Nang in the first two months of 2021 to an estimated 10,772 billion VND, up 6.8% from the year-ago period.

As a result, Da Nang saw the consumer price index (CPI) in February go up by 2.41% over the previous month, and climb by 1.69% over the same period last year. The average accumulated CPI recorded in the first two months of this year rose by 0.63% against the same period last year.

According to media representatives of many big retailers in the city such as Big C Mall, Co.opMart, MM Mega Market and Danavi Mark, one of the factors that facilitate Da Nang retail sales gain strong resilience since the beginning of 2021 is Da Nang’s good adaptability regardless of COVID-19 pandemic-triggered challenges.

Especially, the retail network, in a prompt fashion, promoted online trading services to help stimulate consumption demand effectively, and maintained the continuity of goods circulation in the local market.

The purchasing power since Tet breaks up to now has been rebounding, of course not as strong as that recorded in the same period two years ago due to the slowdown of the tourism industry triggered by the coronavirus resurgence, said Director of Co.opmart Da Nang Phan Thong.

Its stature as the leading major market in Central Viet Nam, the major cargo transshipment gateway of the whole region has enabled Da Nang to stand firm and gradually maintain stability in face of many difficulties and challenges, thereby stirring up more confidence in the country's top retailers.

Many new shopping centres expected to put into use

The coming time is highly expected to see Da Nang retail sales be more vibrant as some domestic and foreign investors plan to open a number of major trade centres.

The Ho Chi Minh City Union of Trading Cooperatives, the owner of the Co.opmart supermarket system, is looking for suitable premises to develop another supermarket, as well as developing a chain of mini-marts Co.opFood in residential areas.

In addition, the Thailand's Central Retail Group, that owns the Big C supermarket chain in Viet Nam, intends to open more distribution points in Cam Le District.

Notably, located on coastal Vo Nguyen Giap Street, the VV Mall shopping centre, which connects with the Crowne Plaza complex, Crowne Games Club and JW Marriott Da Nang, all of which belongs to the same developer Silver Shores Investment Development Company Limited, will come into operation by the end of this month.

An artist’s impression on the VV Mall shopping centre

Located on the highway from Da Nang to Hoi An, the centre, once fully operational, will offer famous fashion brands, international duty free shops and restaurants with a variety of dishes.

The presence of VV Mall promises to add a local retail outlet to Da Nang, and its tourism industry in particular, in the time to come.

According to Mr Cao Tri Dung, Chairman of the Management Board of the Viet Nam TravelMart Joint-Stock Company, that large retailers at home and abroad continue to expand new projects in Da Nang is promised to help diversify Da Nang service delivery capacity.

Da Nang retail sales are making good progress right from the start of this year, which serves as a ‘stepping stone’ to promote the development of the tourism - service industry in the coming time. 

By KHANH HOA – Translated by A.T