Vietnam building a credible sustainable brand

(VOV) - Building a top-notch Made-in-Vietnam brand reputation that spans the world isn’t easy, but winning the support of customers in both the domestic and foreign markets is critical if the nation is to obtain economic sustainability.

When a customer makes a decision to purchase one particular brand over another, the decision is influenced more by the company’s reputation than by any particular feature of the product or service.

There is a strong correlation between a company’s reputation and a consumers’ willingness to purchase the product or recommend it to a friend. The “Vietnamese people prioritize using Vietnamese goods” campaign is a case on point.

The overriding goal of the campaign is for Vietnamese businesses to earn the trust and esteem of customers all over the world by paying meticulous attention to the quality, origin, safety and competitive prices of products.

A recent survey by the Steering Committee for the campaign in HCM City confirm that the campaign is bearing out.  Over 96% of people surveyed say they view the campaign favourably and have gained confidence in the overall quality of Vietnamese products.  

Roughly 62.8% report they have advised friends and relatives to purchase Vietnamese goods. While, 28.15% of those surveyed said they are opting more often to purchase Vietnamese goods over foreign products and services.

According to the results of the survey, over the past five years, the rate of using domestic goods by Vietnamese families has increased from 50% to 85.8%. Around 52.5% of those surveyed purchase at least 80% of all consumer goods locally.

vietnam building a credible sustainable brand hinh 0

At present, local goods have become the favourite for consumers in HCM City. The ratio of local purchases to total purchases for farm produce and vegetables  is 76.46%, garment and textile (74.58%), food (74.08%), leather footwear (64.35%), household utensils (58.29%), office stationeries (51.64%), fresh milk (47.17%), schooling facilities for children (43.40%), wine, beer and beverage (42.30%).

The overall ratio of Vietnamese goods to total goods on display at supermarkets, stores and trade centres in the city is 90%.

The results of the survey in Hanoi are consistent with HCM City and show the rate of using local goods has jumped significantly from 28% in 2011 to 47% now. Consumers report they are increasingly more willing to choose Vietnamese goods over foreign and report they have increased confidence on the Made-in-Vietnam brand.

At supermarkets such as BigC, Saigon Co.op Mart, Vinatex Mart, in the capital city, local goods comprise up to 90%, even up to 100% of product stocked on the supermarket shelves.

According to deputy director of Hanoi Department of Industry and Trade, Tran Thi Phuong Lan, the “Vietnamese people prioritize using Vietnamese goods” campaign has increased public awareness and confidence in the Made-in-Vietnam brand.

Deputy Head of the domestic market department under the MoIT, Le Viet Nga, in turn said official statistics show there are many positive trends for Vietnamese goods in recent times.

Up to 80% of consumers in many markets now report they favour garments and textiles and leather footwear made in Vietnam over foreign products, while 58% prefer Vietnamese food, fruits and vegetables.

In supermarkets, local goods now account for 80%-90% of the available product selection.

Additionally, the localization rate of businesses’ input products, materials, equipment has also surged by 25%, which is definitely a positive sign that bodes well for the long-term prosperity of the national economy.

However, deputy minister of MoIT Ho Thi Kim Thoa said there remain many laggards in the business community who have not sought ways to improve product quality in the market.

Moreover, counterfeit and fake goods are still a drag on the Vietnamese brand and better controls need to be devised to deal with the issues they pose to the Made-in-Vietnam brand.