Parkson’s demise and the rise of competitorsParkson’s demise in Vietnam marks an important transition in the retail sector due to changing shopping behaviours and the rise of shopping malls invested by competitors like Lotte, AEON Mall, and Vincom. Parkson’s sunsetSavich Aniyah, a 51-year-old businessman from Malaysia, expressed grief after the close of a series of Parkson’s stores in Vietnam, particularly Parkson Flemington. According to Savich Aniyah, living far from his hometown, he felt consoled by seeing projects invested by his countrymen, including Berjaya's large-scale real estate projects or Parkson's shopping centres. The second is the transition from the department store model to the shopping mall model, as signified by the appearance of Lotte, AEON Mall, Saigon Centre Takashimaya Mall, and Vincom. These shopping malls not only become leading destinations for shopaholics, but also meet all demands of families, from children to adults.

Source: VietNamNet News March 06, 2018 04:18 UTC