In today’s developed society, the appearance of many supermarkets, convenience stores or e-commerce channels is gradually dominating people’s purchasing activities. Although this has impacted the existence and development of traditional markets, traditional markets are still considered the main distribution network of goods to consumers.

1. Meaning of traditional market

Traditional markets are not only meaningful to the people and small businesses, but are also considered the face of each locality and a destination for tourists when they set foot in a new land.

1.1. For the people

The traditional market is a place that gathers a full range of goods: agriculture – forestry – fishery, necessities to serve people’s daily life. Besides, this is also a place to supply industrial consumer goods, civil electricity, fertilizer,… serving agricultural production activities. Not only that, the market is also considered a miniature society, a place to circulate goods and exchange information related to prices.

Traditional markets are places where all kinds of goods are gathered to serve the consumption and daily needs of people.

1.2. For local

For localities, markets are considered the socio-economic face of that locality. Traditional markets reflect the pace of economic and social development as well as regional cultural identities.

When looking at local markets, we can evaluate the quality of life of people in the area as well as the consumption habits of local people. The attraction of the traditional market is also what tourists enjoy when coming to the locality.

1.3. For small businesses

Traditional markets are also places that attract a large number of workers from each locality. This is the place that provides jobs for many unemployed workers.

Traditional markets are also a place to solve employment problems for workers

2. Development potential of traditional markets

According to Tuoi Tre newspaper, Nielsen data in 2020 shows that Vietnam has about 9,000 traditional markets and about 1.4 million grocery stores, accounting for a market share of 75%. This data shows that the market is still an important sales channel serving consumer needs.

In recent years, many provinces and cities in our country have had many policies to build and renovate markets. The Ministry of Industry and Trade also has a market development project with a vision to 2030.

Many people still choose to buy goods at traditional markets because it is convenient, close to home and can bargain.

So will traditional markets continue to exist? As mentioned above, although markets are facing huge competition with retail channels; But it cannot be denied that the consumption habits of most people in our country tend to shop at traditional markets. One of the reasons the market was chosen is because it is convenient, close to home and allows bargaining, convenient buying and selling. Therefore, traditional markets still have a lot of development potential.

Perhaps this is also the time for policymakers, investors, and market management businesses to recognize and propose more appropriate development directions for traditional markets in the future.

3. Innovate for integration

Currently, there are many countries in the world that have succeeded in innovating traditional markets to meet the needs of the people and the development of society. In developed countries, traditional markets are built in a new style, outside are hundreds of shophouses, inside are hundreds of kiosks for small traders to sell agricultural products, regional specialties, and organize festivals. The market, both modern and traditional, not only ensures food hygiene and safety, especially fire prevention… The most prominent can be mentioned traditional markets in Korea. Neatly planned, clean and beautiful with a variety of attractive products, attracting people as well as tourists to visit and shop.

In fact, traditional markets in our country can completely change to survive and develop even stronger.

A traditional market in Korea with an airy, eye-catching space.

To meet people’s needs in the new era, traditional markets also need to create their own mechanisms for competitive markets, prices as well as food quality and safety. Besides, traditional markets also need to promote their strengths with fresh products, ensuring environmental hygiene and other factors.

In addition, the market also needs to be organized and upgraded to create an airy, clean shopping space , with clear price listings to match the integration trend and meet consumer needs.

Hopefully in the coming time, with the management and policies of departments and investors, traditional markets will have positive changes to contribute to promoting the development of domestic trade as well as the system. local distribution systems.