A struggle to sustain growth in Vietnam
Positive trends continue to warm up Vietnam economy in November. Inflation is under control as the Consumer Price Index posts the year-low growth rates for three consecutive months. Still, it is a long way before the current slow-down bottoms out in the long run.
Though FMCG consumption picks up slightly in recent months thanks to stabilized economic situation, market in both urban and rural is struggling hard to sustain growth in November. In urban, the total FMCG market maintains a value growth at 11%. Rural market witnesses a growth slip from 14% in October down to 12% in November. Nonetheless, consumer demand is expected to heat up soon as Tet season is coming, especially in Tet’s categories such as Confectionary, Soft Drinks, Cooking Additives, etc. All key channels in urban including Street Shops, Wet Market and Modern Trade are suffering from moderate growth. In rural, Wet Market remains stagnant while Street Shop is expanding fast.
Over the review period, Ketchup in urban has excellently earned a 52% increase in volume compared with the same period last year, by attaining 57,000 new buyers and achieving 18% growth in average volume consumption. In Rural, Table Napkin is the most outstanding category with 43% uplift in volume consumption.
Over the review period, Ketchup in urban has excellently earned a 52% increase in volume compared with the same period last year.