In Vietnam, Gen Z emerges as shopping malls' unlikely savior

A recent report by Cushman & Wakefield found that 64 percent of young consumers, particularly those from Gen Z, are fueling the return to shopping malls and the growing preference for in-person retail experiences.

A spot check by a Tuoi Tre (Youth) reporter at 8:00 pm on a weekend at a bustling shopping complex in downtown Ho Chi Minh City echoed the trend, with large numbers of young people filling the venue.

Why shopping malls are winning Gen Z back?

Vo Thi My Duyen, 21, from the former Long An Province, is an overseas student in Australia currently back in Vietnam for summer break.

She said that even though she could shop online, she still prefers to see and try things on in person to make sure they are the right fit.

Malls are not just for shopping, either, they have become a lifeline for people craving quick social connection.

Phan Tuan Dat, 22, who lives in Cho Lon Ward, Ho Chi Minh City, visits a mall roughly every two weeks.

The chance to try products firsthand before buying, plus the convenience and variety of dining options, is what keeps him coming back.

According to Sona Aggarwal, managing director and head of Retail Sales and Strategy for Asia Pacific at Cushman & Wakefield, the role of physical stores remains unchanged, but consumer expectations of them have evolved.

She called this the rise of a ‘trust economy,’ where consumers form opinions about a brand long before they ever set foot in a store. As a result, physical stores must deliver on the expectations and promises the brand has already established online.

Businesses forced to adapt

This shift in Gen Z's expectations is forcing frontline staff to rethink their approach entirely.

Tran Quang Tien, a sales associate at the Dior boutique in Vincom Dong Khoi in Ho Chi Minh City, said young customers now make up seven out of every ten visitors.

According to him, this generation wants meticulous attention to detail and hands-on experience rather than just scrolling through a screen, especially when it comes to luxury spending.

To win these customers over, the sales approach has shifted from chasing viral products to putting customers first.

Rather than simply closing a sale, he now takes the time to understand their needs and offer thoughtful advice, helping them choose products that truly suit them while building long-term loyalty.

Hoang Nguyet Minh, general director of Cushman & Wakefield Vietnam, said malls today are positioned as lifestyle destinations.

The most successful projects go beyond retail by offering visitors more reasons to come, from dining and entertainment to experiences that foster a sense of community.

In Vietnam, this trend goes beyond store shelves.

Malls in Hanoi and Ho Chi Minh City are shifting toward a multi-hub model, deeply woven into mixed-use developments, with retail now an integral part of a ‘live-work-play’ ecosystem where residents, office workers, and visitors converge.

Minh said this shift is exactly what is driving demand for flexible planning models -- from short-term pop-up flagship stores to modular designs that let brands continually refresh their offerings.

Across Asia-Pacific, the pop-up retail model now accounts for nearly a third of the global market, generating an estimated US$4.8 billion in revenue in 2025.