A rising affluent class, more nuclear families, the booming development of digital technology, and an increasing demand for personalisation among consumers will offer opportunities and challenges for FMCG brands in the coming years, according to Kantar Worldpanel Vietnam.
The fast moving consumer goods sector is forecast to grow at 6.4 percent this year in the country’s four major cities and 8.7 percent in rural areas, according to global data and consulting company Kantar Worldpanel.
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.
Snacks are replacing traditional meals as busy modern life changes consumer behaviour, making the snack market lucrative globally including in Vietnam, experts said.
The fast moving consumer goods market will remain strong in the long term in the country’s four major cities of Hanoi, Da Nang, Ho Chi Minh City, and Can Tho and see an acceleration in rural areas, according to Kantar Worldpanel, a global data, insights and consulting company.
More than 68 trillion VND (over 2.9 billion USD) 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.
Products serving babies grew 12 percent in the second quarter of 2018, the highest recorded in fast moving consumer goods (FMCG) categories after months, according to a report of Nielsen, a global measurement and data analytics company.
Vietnamese customers’ rapidly changing needs and expectations and lower spending on fast moving consumer goods (FMCG) are the biggest challenges to the sector, according to a new report released by consumer and retail research company Kantar Worldpanel.
Sales of fast moving consumer goods have slowed down this year in both urban and rural areas, according to Kantar Worldpanel, a global expert in shoppers’ behaviour.
Fast-moving consumer goods (FMCG) are expected to have another year of strong growth in 2018 and rise 6-7 percent over the preceding year, according to a Kantar Worldpanel report on Vietnam FMCG market.
The fast-moving consumer goods (FMCG) market is expected to see good expansion towards the end of this year thanks to stronger purchasing power in both urban and rural areas, experts said.
In the last quarter of 2015, the Fast Moving Consumer Goods (FMCG) growth in the six key cities of Vietnam rallied, with an increase of 5.7 percent, compared to 4.5 percent in the previous quarter.
Many domestic producers have moved their markets to rural areas as local fast-moving consumer goods (FMCG) firms are facing severe competition with imported products in urban areas.
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