E-commerce dominating as retail spaces struggle Chia sẻ | FaceBookTwitter Email Copy Link Copy link bài viết thành công
02/07/2021 09:26 GMT+7
Hanoi and Ho Chi Minh City retail landlords continue to face declining rents due to social distancing and competition from e-commerce.
E-commerce dominating as retail spaces struggle. Source: freepik.com
Despite reducing rent by 20 per cent and then later to as much as 50 per cent, landlords in the central areas of these two cities are suffering as their tenants are giving back the rented spaces which remain unoccupied for months.
Nguyen Van Hien, owner of a fashion kiosk in Ho Chi Minh City, said that she has to pay VND40 million ($1,700) per month for rent, staff’s salary, and other expenses. However, during the last year, Hien’s revenue was only 30 per cent compared to before the pandemic.
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