|Vietnamese shoppers prefer food and essential goods in the next six months. Photo: Vingroup
Food and essential goods are expected to be on top of the purchase list of Vietnamese consumers in the next six months, according to the latest survey about how Vietnamese consumer behaviors are affected by COVID-19.
The survey conducted by the Business Association of High-Quality Vietnamese Products showed that consumers would spend their money primarily on food, health care products, chemical products, detergents and personal hygiene in the next six months.
Of the total respondents, 93% prioritized paying for food and essential goods, 42% chose health care products, and 33% would spend more on chemical products, detergents and personal hygiene.
In the next six months, the Vietnamese consumer buying behavior will remain unchanged compared to the pandemic period.
Meanwhile, garments and household appliances are predicted to remain on the purchase list but not as the preferred items.
Ho Duc Minh from the association said that the consumers are still showing reticence and prudence when buying so healthcare products will hold sway in consumer’s preference.
Therefore, businesses should take advantage of this trend to boost sales. Minh said the event “Rebooting Business after COVID-19 and Awarding the Vietnamese High-Quality Products 2020 Certificate” held on June 12 was a good opportunity for businesses to convince customers about the long-term benefits when using their products.
The survey was conducted at the end of May with 520 respondents, mainly in urban areas. The results also revealed shopping preferences of consumers vary by location.
|Source: Business Association of High-Quality Vietnamese Products. Chart: Nhat Minh
The survey also showed that in the near future, local shoppers in Ho Chi Minh City prefer choosing food and health care items more than in other localities while Hanoi shoppers prefer consuming non-essential products.
At the same time, people in other localities prioritize buying chemical, detergents, and personal hygiene more than those in Hanoi and Ho Chi Minh City.
According the survey, 82% of Vietnamese consumers said they shopped online during the social distancing period. Notably, 98% of those who did so will continue to maintain this purchasing habit in the future.
“The increasing trend of online shopping creates great opportunities for businesses to step up their digital communication strategy and make a stronger impression on the online market,” said Minh.
Kantar Vietnam forecasts fast-moving consumer goods (FMCG) market will return to its growth when the pandemic is over but at single-digit rate. Local retailers in FMCG should rethink their channel strategy as COVID-19 impacted the way Vietnamese consumers shopping, Kantar suggested.