Storefronts are becoming a thing of the past

"The era of storefronts is slowly fading, much like the days when every home had a landline. Today, the 10X generation doesn't even know what a landline phone looks like. My kid, a Gen Zer, says they've never stepped into a physical fashion store since they started shopping—and they have no idea what a traditional market looks like," commented reader Lao Ngoan Dong.

He believes that storefronts may soon disappear altogether as Gen Z's shopping habits increasingly favor online platforms.

His comment reflects a growing trend, as more prime real estate locations in Ho Chi Minh City remain vacant for extended periods. According to reports from VnExpress, several properties on central streets known for their prestige have struggled to find tenants.

For example, a corner space on Ly Tu Trong – Pasteur Street in the central District 1 has been available for rent since July 2022 but remains unoccupied. The asking rent has risen to $30,000 per month, up from $20,000 in 2022, yet still, there are no takers.

Another reader, To, offered his perspective: "Consumer habits have shifted, so the concept of 'prime real estate' has changed as well. Nowadays, wealthy people drive cars, and it's impossible to park in these central spots. Motorbike riders don't even bother either. These locations should no longer be considered prime since they have low foot traffic. The only value they have left is as advertising space. Rent prices should be lower to attract tenants."

He suggested a more practical use for the vacant spaces: "Turning these large storefronts into parking lots might be a better solution. Each car needs around 15 square meters, including pathways, so a 600-square-meter space could hold over 30 cars. The income from parking fees might even exceed what a struggling retail business could bring in."

Readers' comments highlight a clear shift in consumer behavior, signaling that the future of storefronts may need to adapt or fade into history.