A panel discussion at the seminar discussing new consumption trend post COVID-19 and what businesses need to do in HCM City on June 17. (Photo: VNA) Speaking atthe seminar held by the High Quality Vietnamese Product BusinessAssociation, Nguyen Cao Ngoc Dung, a senior manager at NielsenIQ Vietnam, saidthe pandemic has accelerated the ascendance of wellness as a dominant consumervalue all around the world.
Consumersare increasingly aware that all aspects of their lives – where they live, howthey work, what they eat, and how they exercise, socialise and travel – impacttheir health outcomes, mental influence and overall sense of well-being.
Theystrive to protect themselves against immediate threats to their health andwell-being, she said.
Beit daily hygiene habits or minimising exposure to disease and pollution, thesefundamental health priorities are top of mind for them, she said.
Healthwill remain a focus for consumers and continue to be a driver of growth.
TheOTC (over the counter) and health supplements category saw substantial andconsistent growth in the past two years, including 17 percent last year in theAsia-Pacific.
Talkingabout the reasons why health has become a priority, she listed several rangingfrom a desire to live a longer, healthier life and look and feelbetter to the sway of social media and the burden of risingcosts of healthcare.
ANielsen IQ survey found 39 percent of consumers in the Asia-Pacific boughtproducts with healthy elements in the last two years, 29 percent bought thosewith relaxation properties and 26 percent those with special nutritionalproperties.
Consumerswere also willing to pay a premium for products that offer specific benefitssuch as nutrition, fewer or no preservatives, sustainability, hygiene, andprotection, she said.
Itis imperative for manufacturers to identify where their brands sit in thecurrent hierarchy of needs of consumers and try to meet or exceed expectations,she added.
InVietnam, home care, personal care and food products enjoyedgood growth in the first quarter of this year.
Likein the rest of the region, Vietnamese consumers are sensitive to price changesand are willing to cut spending if prices rise.
Sowhen deciding to raise prices, firms must have convincingreasons, she said.
Consumerstend to eat more at home, so manufacturers and retailers should have suitableand convenience products and delivery services to meet customers’ demand.
Some59 percent of Vietnamese consumers said they have mainly bought domestically-madeproducts because they know the origin of products and want to support localfirms, and 63 percent of consumers said they will continue to shop online postpandemic.
TheFMCG industry promotes the use of recycled plastics and packaging materialstowards sustainability development
VuKim Hanh, Chairwoman of the High Quality Vietnamese Product BusinessAssociation, said consumers were obsessed with the pandemic and looked forfoods that boost their health and immunity but are convenient.
Consumersare increasingly looking for natural and environment-friendly products andthose with health benefits.
Demandfor plant-based products and alternative protein products had grownsignificantly and will continue to rise in the future, she said.
Plant-basedproducts have developed strongly in many countries.
InVietnam, most of plant-based products available in the market are imported. Sofirms conduct research on this segment, she added./.
VNA
