Vietnam Marketing/Media Channel

Kantar: Vietnam’s FMCG Monitor Full Year 2020

 

From Kantar Worldpanel Vietnam

With the positive figures in 2020, Vietnam economy is expected to further recover in 2021. In the first month of 2021 there was a strong uplift in domestic demand, export and import.

FMCG Overview:
FMCG for in-home consumption marked a remarkable year, hitting a robust growth in 2020 amid the pandemic, driven by the increase in volume consumption. Yet, in short-term, consumer demand on groceries is getting back to pre-pandemic level.

Packaged Foods is the most successful sector and is the main driver of the abnormal spike in FMCG market throughout the year of stay-at-home economy.

Hot Categories:
Drinking yogurt with health benefits has been growing over the past few years, especially functional segment. The category growth continues in 2020 given the COVID-19 situation. With consumers’ increasing priority on health, drinking yogurt has potential to further grow in both consumer base and volume consumption.

Retail Landscape:
2020 was a year of double-digit growth for almost all channels in terms of FMCG sales. Beside drug stores and pharmacy providing hygiene and disinfection products, channels that offer a wide range of categories including fresh foods have benefited from the increased consumer demand on essentials and basic needs.

Spotlight: Share of Vietnamese’s Wallet Amid COVID-19:
Consumers’ spending cut on out-of-home activities such as transportation, entertainment, holiday/travel and savings at the expenses of Food & Consumer Packaged Goods (CPG) is a common behavior of Vietnamese households in the context of the health crisis.

Note: Urban 4 cities include Ho Chi Minh, Ha Noi, Da Nang and Can Tho.

Editors Note:
To read the full Kantar report – Vietnam’s FMCG Monitor Full Year 2020 ... CLICK HERE!!

 

 

 

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