Thailand’s Department of International Trade Promotion (DITP) pressed exporters Tuesday to accelerate entry into Vietnam’s rapidly expanding consumer market. Retail sales and service revenue there reached 7,000 trillion Vietnamese dong, equivalent to $268.5 billion, in 2025, according to a DITP report citing Vietnam’s Directorate of Market Surveillance under the Ministry of Industry and Trade.

That figure marks the highest level in five years and reflects a 9.2% increase from 2024. Retail revenue alone climbed 8%, the report stated. Services showed even stronger momentum at 20.2% growth.

Accommodation and food services led the charge with a 14.6% rise. Officials attributed the gains to major events, a surge in foreign tourists and rising incomes among Vietnamese consumers. Living standards continue to improve, fueling demand for modern retail formats.

The Thai Trade Center in Hanoi compiled the data from Vietnamese government sources. It highlighted opportunities in e-commerce and organized retail channels, both of which posted double-digit expansions. Vietnam’s shift toward these sectors creates openings for Thai goods, DITP officials said.

Thailand already counts Vietnam as a key trading partner. Bilateral trade topped $20 billion last year, with Thai exports including electronics, machinery and consumer products. DITP aims to boost that flow by matching Thai suppliers with Vietnamese buyers through trade fairs and matchmaking events.

“Exporters who act now can lock in market share before competition intensifies,” the report quoted Thai Trade Center staff as saying. Vietnam’s population of nearly 100 million, plus growing middle-class spending power, underpins the optimism.

Modern trade channels like supermarkets and convenience stores captured larger shares of sales in 2025. E-commerce platforms saw explosive growth, driven by smartphone penetration and digital payments. The report urged Thai firms to adapt packaging, pricing and marketing for Vietnamese preferences.

DITP plans roadshows in Bangkok and other provinces to brief exporters on logistics, tariffs and consumer trends. Vietnam’s free-trade agreements with ASEAN partners, including Thailand, ease market access. Officials expect retail growth to persist into 2026, barring global disruptions.

Southeast Asia’s consumer boom extends beyond Vietnam. Thailand eyes similar gains in Indonesia and the Philippines. DITP’s push aligns with government goals to diversify exports amid slowing demand in traditional markets like China and the U.S.