CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Vietnamese consumers shop fast-moving consumer goods less often: Kantar Worldpanel
Ngoc Thuy 12:18, 2018/07/13
Because of the busy schedule, people have a tendency to shop less often for fast-moving consumer goods (FMCG), resulting in fewer shopping occasions for categories and brands to be picked up off the shelf, according to Kantar Worldpanel.
Normally, the biggest challenge to FMCG growth is consumers' rapidly changing needs and expectations, but in Vietnam, the fact that consumers go shopping on FMCG goods less often is a major challenge to producers, stated a recent survey by market research firm Kantar Worldpanel.
 
Illustration photo.
Illustration photo.
According to the survey, consumers today are not only focusing on their basic needs but also moving to new aspirations. They have the tendency to reduce their budget on grocery expenditure and instead choose non-FMCG items.

In 2017, Vietnam's market saw an average of 16 new FMCG products per day, of which one third are related to packaged food. 

Because of the busy schedule, people have a tendency to shop less often for fast-moving consumer goods (FMCG), resulting in fewer shopping occasions for categories and brands to be picked up off the shelf.

This may be explained by its competing position with mini-stores and online ones in terms of speed and convenience and with hypermarket in terms of good deals and shopping experience. Online stores, from a very small base, keep growing exponentially, especially in the health & beauty sector, by continuously adding new shoppers. 

Vietnam's retail picture promises a lot of changes in the near future. The FMCG market grows more slowly in both urban (mainly in four major cities Hanoi, Ho Chi Minh City, Da Nang, Can Tho) and rural Vietnam, posting modest growth. 

In line with the global trend, achieving growth in FMCG industry is getting more difficult, the survey concluded. Consumers, thus, continue shopping less often with fewer categories in their shopping basket, which leads to the lower volume of in-home consumption.
Comments
Other news
14:06, 2024/11/20
Hanoi strengthens export competitiveness and trade protection measures
Hanoi will work with the Ministry of Industry and Trade to ensure that businesses and manufacturers are ready for new challenges.
10:49, 2024/11/16
US reiterates Vietnam is not manipulating currency
The US Treasury Department’s positive evaluation underscores Vietnam’s progress in balancing its economic and monetary policies while fostering strong bilateral relations with the US.
21:14, 2024/10/31
Vietnam, Brazil: Building bridges through shared history and new partnerships
Vietnam and Brazil are forging a future of mutual development, bridging continents through their shared history and new partnerships.
16:54, 2024/10/29
Hanoi to attract tourists by showcasing local specialties at wholesale markets
Hanoi aims to enhance supervision of food safety and traceability, along with promoting cashless transactions.
16:28, 2024/10/27
National E-commerce Week, Vietnam Online Shopping Day 2024 set to kick off
This year's event will focus on celebrating and raising the status of Vietnamese products, according to the Ministry of Industry and Trade.
18:39, 2024/10/21
Vietnamese goods in rising demand among Hanoi residents
The domestic market, estimated to be worth US$180 billion and projected to grow to US$350 billion by 2025, presents an opportunity for Vietnamese goods to gain a foothold domestically.