Aug. 29 - The sales of local Vietnamese products have dipped by five percent year on year despite inflation while the sales of imported goods have risen by as much as 20 to 30 percent.

As living standards improve, Vietnamese are now willing to pay a premium for imported products that are better designed and packaged.

In June 2008, United States consulting company, A.T. Kearney ranked Vietnam as the the most attractive retail investment market in the world, unseating India from the top spot a year earlier

"Despite slowing economies in developed countries, the retail opportunity in emerging economies is more compelling than ever as less than 10 percent of the retail market in these countries is organized," said Hana Ben-Shabat, a partner with A.T. Kearney in a statement. "These markets will provide the engines for continued growth and profits for global retailers as sales in their home countries turn sluggish."