On 12 March 2020, COVID-19 was officially declared a pandemic, which is defined as a worldwide spread of a disease, according to the WHO. This is the first pandemic caused by a coronavirus. COVID-19 has now spread to 114 countries with more than 153,500 confirmed cases including 5,700+ deaths globally (according to WHO’s updates up to March 15th, 10am CET) and will greatly affect the global economy.

For Vietnam, where it’s been more than one month since the first official announcement on 1st February, it enters the 2nd phase of COVID-19 outbreak since the most recent, 17th case. Hopes for 2020 were that the country would maintain and continue the strong GDP growth of 7.02% in 2019, however it is now less likely with the unexpected COVID-19 pandemic.

In the first two months of 2020, CPI increased by 5.91%, the highest rate over the past seven years! As a result, domestic demand on consumer goods posted a weaker performance than the same period last year with an increase of 9.8% compared to 14.4% in 2019, the lowest growth rate since 2014, according to The General Statistics Office of Vietnam.

Within fast-moving consumer goods (FMCG) industry, the widespread COVID-19 is disrupting FMCG businesses but not all categories and retailers will see a negative impact. Kantar is closely monitoring the impact of COVID-19 on FMCG categories across different shopping channels to shed light on how consumers’ behaviors are changing, to help brands and retailers to respond to them in this VUCA (volatile, uncertain, complex, ambiguous) time.

COVID-19: Initial impacts on Vietnam’s FMCG In-home Purchases 2020 (Urban – 4 key cities of Vietnam)

On 12 March 2020, COVID-19 was officially declared a pandemic, which is defined as a worldwide spread of a disease, according to the WHO. This is the first pandemic caused by a coronavirus. COVID-19 has now spread to 114 countries with more than 153,500 confirmed cases including 5,700+ deaths globally (according to WHO’s updates up to March 15th, 10am CET) and will greatly affect the global economy.

For Vietnam, where it’s been more than one month since the first official announcement on 1st February, it enters the 2nd phase of COVID-19 outbreak since the most recent, 17th case. Hopes for 2020 were that the country would maintain and continue the strong GDP growth of 7.02% in 2019, however it is now less likely with the unexpected COVID-19 pandemic.

In the first two months of 2020, CPI increased by 5.91%, the highest rate over the past seven years! As a result, domestic demand on consumer goods posted a weaker performance than the same period last year with an increase of 9.8% compared to 14.4% in 2019, the lowest growth rate since 2014, according to The General Statistics Office of Vietnam.

Within fast-moving consumer goods (FMCG) industry, the widespread COVID-19 is disrupting FMCG businesses but not all categories and retailers will see a negative impact. Kantar is closely monitoring the impact of COVID-19 on FMCG categories across different shopping channels to shed light on how consumers’ behaviors are changing, to help brands and retailers to respond to them in this VUCA (volatile, uncertain, complex, ambiguous) time.
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This report was provided by Kantar Vietnam. For more information on Kantar Vietnam, visit their website at: https://www.kantarworldpanel.com/vn

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