The continued closure of Parkson stores shows that the time of the department store may be over. Shopping malls are the growing tendency in large cities.

VietNamNet Bridge - Parkson recently shut down its shopping center at Cantavil An Phu in district 2, HCM City. To date, the big retailer from Malaysia has closed five malls in Vietnam.

Parkson, which was once the leading distributor of branded goods in Vietnam, has had shut down four department stores in recent years, including all of their stores in Hanoi.

VietNamNet Bridge - Bad luck still clings to Parkson as the Malaysian group continues to report losses and unsatisfactory business results in Vietnam.

VietNamNet Bridge - The Vietnamese retail market is bustling with the expansion of existing brands and the appearance of newcomers, including 7-Eleven, the world's largest convenience chain. 

VietNamNet Bridge - A number of shopping malls have shut down though it is now the peak sales season. 

VietNamNet Bridge - Parkson, the Malaysian department store chain, was once compared to a haughty lady who was choosy in cooperating with partners. However, the lady has gone downhill.

VietNamNet Bridge - The closing of a series of Parkson trade centers in Hanoi indicates that luxury shopping malls are facing pressure from the economic crisis.

VietNamNet Bridge - After closing some of its department stores in Hanoi within a two-year period, Parkson, a retail giant from Malaysia, has officially decided to leave the capital.

VietNamNet Bridge - The concern about the number of retail premises in HCM City became more intense after Parkson Paragon closed. 

VietNamNet Bridge - The Vietnamese retail market, analysts say, is still being overestimatrd by investors. 

VietNamNet Bridge – Although there are many well-off Vietnamese who are willing to spend money on expensive items, luxury malls may still not succeed in the market.

VietNamNet Bridge – A property developer has decided to lease retail premises for free to help establish the “world of Vietnamese goods”.

Once Vietnamese retail chains fall into the hands of “foreign sharks”, Vietnamese goods will be dislodged from the home market, while local production will become stagnant, experts have warned.

VietNamNet Bridge – Big fortunes can be made through small investments, and this is  especially true in the distribution sector.

As high-end shopping malls continue to face difficulties attracting customers, some retailers are combining two business models, modern merchandising and traditional markets.

VietNamNet Bridge – Despite great efforts to attract customers, shopping malls in large cities continue to have problems attracting many customers.

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VietNamNet Bridge – The decision by Parkson to close Parkson Landmark, one of its nine shopping malls in Vietnam, has alarmed and angered the public.