The year in review: 8 FMCG insights that shaped 2023
The year 2023 in FMCG has been a year of complexities and resilience. Prices continued their upward climb, prompting consumers to reassess their shopping habits and seek out value amidst increasing uncertainty.
This year's Kantar Worldpanel Vietnam data reveals fascinating insights into how consumers navigated these changing dynamics, documenting their evolving priorities and expectations that shaped the year that was and the future of the FMCG landscape in Vietnam.
Although rising prices presented challenges, they also opened doors for growth. Consumers prioritised necessities and value-driven purchases, demonstrating a growing awareness of where their money goes. This shift in focus has fueled the rise of "premiumisation," with consumers increasingly seeking quality and convenience in their everyday choices.
Beyond the realm of consumer products, the shopper journey itself is undergoing a transformation. Expectations continue to rise, driven by a fragmented landscape where customer touchpoints are numerous, non-linear and complex. To navigate this intricate landscape and forge lasting connections, brands must prioritise genuine interactions that resonate with individual consumer values and aspirations.
As we are heading into 2024, what’s a better time to reflect on the insights that shaped 2023?
In this recap, we delve into the most impactful insights from Worldpanel Vietnam's best reads in 2023, exploring the year's key themes and unveiling the opportunities that lie ahead for brands seeking to thrive in this ever-evolving FMCG market.
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