VN’s essential product sales

Supermarkets prevail in

SUPERMARKETS are the top choice for consumers seeking to buy essential products, stationery or household goods followed by convenience stores (including groceries), a survey by the High Quality Vietnamese Product Business Association has found.

Sales of certain items have reduced at traditional markets, but they still dominate in sales of fresh foods, it said.

Though online shopping still accounts for a small proportion of retail sales, it has grown significantly, especially in the case of garments, cosmetics, stationery, and electronics and among young consumers, it said.

Speaking at a press briefing held on Thursday to introduce the survey and the 2019 Vietnamese High-Quality Goods Awards, Vu Kim Hanh, the association’s chairwoman, said the survey also found that “consumers are most concerned about quality and safety when choosing a product, followed by clear information about the product, ease of buying, and brand.”

“Prices and promotion are only attractive to a small number of consumers and are no longer a prerequisite for customers to buy a product.”

‘Competitive advantage’

The survey also uncovered other market information that businesses and authorities could find critical.

For instance, the rate of consumers who “like” imported products has remained higher in recent years than the current “purchase and use” rate.

Thus, it is likely that in the near future the “buy and use” rate of imported products would increase, especially those from Japan, South Korea and Thailand, she said.

Vietnamese firms have had a taste of the competition they face in the coming years from foreign goods, especially with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) taking effect, she said.

“Enterprises understand this competitive pressure and adopt different ways to cope with the situation. Some businesses restructure their operations and reduce their goods portfolio to focus on sectors in which they have a competitive advantage.”

Centre for Business Studies and Assistance chief operating officer Phan Hoang Nhon said the association would support its members with improving their management and adopting new technologies.

It would create new standards for food and non-food products to enable more Vietnamese products to penetrate international markets and enhance programmes to help Vietnamese businesses promote their products in the domestic and international markets, he said.

The sur vey direct ly inter v iewed 12,000 households and 5,400 sellers in 12 key prov inces and cities. It a lso conducted online sur veys using a specia lised app and received 4,000 responses.

Through the customer survey followed by screening by authorised agencies and relevant industries and checking for transparency of information, the association chose 542 enterprises to confer the prestigious “Vietnamese High-Quality Goods” certificate this year.

The awards ceremony will be held in Ho Chi Minh City’s Tan Binh district next Wednesday.

This is t he 23rd year t he association is giv ing away t he awards.