Garments and household appliances are out of the top purchase list of Vietnamese consumers in the rest of the year.
The COVID-19 outbreak has hit fast-moving consumer goods (FMCG) businesses but not all categories and retailers will suffer negative impacts, according to global data and consulting company Kantar Worldpanel.
Amid the current coronavirus epidemic, the fast-moving consumer goods and e-commerce sectors have experienced a tumultuous period.
The COVID-19 epidemic is having an impact on Vietnamese consumer behaviour in the first quarter and will possibly continue in the second quarter, according to global data and consulting company Kantar Worldpanel.
The personal care sector has enjoyed strong growth of 7 per cent a year on average, higher than the fast moving consumers goods (FMCG) market, thanks to the skincare and make-up segment, according to a study by global data and consulting company Kantar Worldpanel.
Snacks are replacing traditional meals as busy modern life changes consumer behaviour, making the snack market lucrative globally including in Vietnam, experts said.
Vietnamese conglomerate Vingroup said on December 3 it has entered into a share swap agreement to merge its retail and agriculture arms with Masan Consumer Holdings, to create the country’s biggest retail company.
Most of the modern retailers from Indonesia, who are engaged in minimarkets and convenience stores, have expressed their interest in expanding business in Vietnam, according to Chairman of the Indonesian Retailers Association (Aprindo) Roy Nicholas Mandey.
Direct-to-consumer sales, particularly subscriptions, could be the next phase of online shopping in Vietnam as the model sees a wave of investment from major companies worldwide.
Vietnam’s mergers and acquisitions market is abuzz in food and beverages, as well as in consumer goods, as the competitive landscape evolves and rivals reshape their portfolios.
Vietnamese food and agricultural giant Masan has renamed a subsidiary to focus on selling branded pork products.
A new report says Vietnam spent nearly $2 billion on consumer goods this Tet, the highest in three years.
Ground has been broken for a US$30 million warehouse and distribution centre in the northern province of Bac Ninh.
Retail giant Mobile World Investment Corporation has announced plans to invest VND1 trillion ($43.07 million) in Bach Hoa Xanh, its groceries business.
With increasing incomes, consumers are paying greater attention to products of high quality and health foods, and producers and distributors need to focus on such products, a forum on Vietnamese high quality foods and agricultural products heard in Ho Chi Minh City on December 20.
Although foreign retailers have increasingly expanded their store chains in the Vietnamese market, domestic firms remain dominant, especially in the fast moving consumer goods (FMCG) sector, said Nguyen Huy Hoang, commercial director of the market research firm Kantar Worldpanel Vietnam.
A series of international brands have been pouring more money into Vietnam’s high-potential soft drink segment, toughening up competition against fledgling domestic producers.
One of Vietnam’s largest private conglomerates, Masan Group, has reported outstanding nine-month performance, leveraging its premiumisation and beverage strategy to double and triple the fast-moving consumer goods growth rate in the forthcoming years.
Vietnam’s biggest dairy firm Vinamilk is eyeing foreign markets in the hopes of offsetting the declining growth in the local market.
More than VND68 trillion (over US$2.9 billion) is expected to be spent on media advertising by companies in Vietnam, with fast-moving consumer goods (FMCG) manufacturers to make up the bulk of the spending.